
The African Continental Free Trade Area (AfCFTA), which aims to create the world's largest free trade area by connecting 1.3 billion people across 55 countries, is steadily moving towards full implementation. Recent months have seen several member states ratify the agreement and begin implementing tariff reductions on a range of goods.
Key developments include the harmonization of customs procedures and rules of origin, which are critical for facilitating smooth cross-border trade. The AfCFTA Secretariat is working closely with national governments and regional economic communities to address implementation challenges and ensure that the benefits of the free trade area are widely shared. Economists predict that the AfCFTA could boost intra-African trade by over 50% in the coming years, fostering industrialization and creating economic opportunities across the continent.