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AfCFTA to create USD3000 billion dollar-worth market

Published on : Monday, 07 October 2019 19:35   Read : 181 time(s)
AfCFTA to create USD3000 billion dollar-worth market

ALGIERS- African Continental Free Trade Area (AfCFTA), to come into force in July 2020, is to create a market worth USD3000 billion without any customs duties or border restrictions, Minister of Trade Saïd Djellab said Monday in Algiers.

"Once set up, the AfCFTA will cover a market of 1.2 billion inhabitants and a combined gross product of USD2.5 billion and create a market worth USD3.000 billion without any customs duties or border restrictions," the minister said at the national conference on the challenges of the AfCFTA and the adequate national strategy.

Djellab added that Algeria's integration into the African continent is a "strategic choice" that is contingent upon intra-African trade and partnership.


See also: AfCFTA to contribute to peace, prosperity in Africa


"Investment and trade are key elements for a good growth and a sustainable economic development."

"One of the natural areas for Algeria's economic integration is Africa, which is a major goal of our cooperation policy," the minister stressed.  

Algeria attaches "high priority to building exemplary relations with its African partners, as it believes that regional integration will have a positive and significant impact on economic growth and efficiency."

 

Last modified on Monday, 07 October 2019 20:10
AfCFTA to create USD3000 billion dollar-worth market