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African Leaders Launch Africa’s Largest Free Trade Area

AFRICANGLOBE - The proposed “Grand” FTA will stretch from Cape Town to Cairo, creating an integrated market with a combined population of almost 600 million people and a total Gross Domestic Product (GDP) of about US$1 trillion.

African Leaders To Sign Continental Free Trade Area Deal

AFRICANGLOBE - Africa's three major regional economic committees (RECs) are set to finalise an agreement on forming the continent's largest free trade area (FTA) during a tripartite summit taking place 7-10 June in Egypt's Sharm El-Sheikh.

Africa Is About To Launch A Cairo-To-Cape Town Free Trade Area...

AFRICANGLOBE - The world is just about to get a free trade area that's bigger, by population, than either the European Union or NAFTA. It's got nothing to do with the much-publicised Trans-Pacific Partnership (TPP) Transatlantic Trade and Investment Partnership (TTIP). In fact, you've probably never heard of it.

Does Africa Need A Free Trade Area?

AFRICANGLOBE - Like a true phoenix, Africa is rising from the ashes of despondence and wretchedness and, as validated by the rest of the world, is seeing an absolutely unprecedented explosive growth and economic development driven by socio-political stability, the rise of the middle class citizen, and the seemingly sudden realization by international investors that the continent offers some of the highest returns on investment in the world.

Africa Targets Continent-Wide Free Trade Area by 2017

Africa will target the establishment of a continental free trade area by 2017, according to a document issued at the closing of the African Union (AU) summit in Addis Ababa, Ethiopia. "The Continental Free Trade Area (CFTA) should be operationalised by the indicative date of 2017," the document said.

AU Wants to Double Intra-African Trade

The African Union Commission wants to see intra-African trade double, from its current level of 10-12 per cent of the entire continent's trade, to 20-25 per cent within the next decade. A document from the Commission, provided as background to this weekend's heads of state summit, at which boosting intra-African trade is the main agenda item, points out that greater trade between African countries "will develop larger markets, and foster greater competition which in turn will lead to poverty reduction, growth and poverty reduction".

Southern Africa Plans Free Trade Agreement With India

India and South Africa plan to increase trade to US$15-billion (R105-billion) by 2014 from the current US$10,6-billion.

Intra-African Trade 'A Matter of Urgency'

The recently launched agreement for the establishment of the Tripartite Free Trade Area has made it more urgent to promote intra-Africa trade, and that should be at the top of the continent's economic agenda.