African leaders launch 55-nation trade zone
1 week, 2 days ago by john | 9 facts | 1 comments | 23 votes

  • While many transactions in Africa occur using U.S. dollars or euros, the AU announced an electronic pan-African payment system -
  • Amaka Anku, Africa analyst at Eurasia group, said the deal was a positive step but AfCFTA was still "a long way from taking off." -
  • The trade zone will unite 1.3 billion people and create a $3.4 trillion economic bloc -
  • It took African leaders four years to reach an agreement on the continental free-trade zone -
  • Members have committed to eliminate tariffs on most goods, which will increase trade in the region by 15-25%. -
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john - 1 week, 2 days ago
I think this is great news for Africa. I wonder if South America already has their own unified trade agreement or if they'll be the last continent to get one.

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