Kenya: Organizations signs pact to fast track ACFTA

APA-Nairobi (Kenya)

TradeMark East Africa (TMEA) and the AfroChampions Initiative (ACI) have signed a partnership agreement committing to provide support to governments and the private sector in realising the Africa Continental Free Trade Area (ACFTA).

Both organizations have a common interest in building partnerships that promote economic integration as a strategic growth driver for the African continent.

The areas of mutual agreement in the partnership include private sector engagement, strategic advocacy with governments and the private sector and improving access to information.

The agreement was signed by Frank Matsaert, TMEA CEO and Ali Mufuruki, Regional Chair, AfroChampions Initiative (ACI).

 “We are delighted in partnering with ACI to help support the realisation of the largest trade agreement which will increase Africa’s trade, increase GDPs and create jobs. TMEA, is excited to lend its expertise in supporting the realisation of this dream,” Matsaert said in a statement issued in Nairobi on Friday.

TMEA and ACI will leverage their expertise in trade facilitation to foster cooperation between African private operators across the continent.

“AfroChampions is looking forward to engaging further with TMEA to promote the AfCFTA to showcase what a successful Africa will look like and to identify benefits of increased intra-continental trade that can be shared between citizens and countries,” Ali Mufuruki added.

The two organisations will identify projects of regional or pan-African importance that require investment from African or foreign investors. 

Both TMEA and ACI will then promote and participate in the successful projects which will be designed to support the regulatory and technical implementation of the Agreement on the AfCFTA. 

African leaders from 44 African nations gathered at the African Union Summit from March 17th to 21st 2018 in Kigali, Rwanda, and signed the Continental Free Trade Area (AfCFTA) treaty to create the world’s largest single market.

The agreement will be the largest trade agreement in history since the creation of the World Trade Organization.

The pact aims to boost intra-African trade by making Africa a single market of 1.2 billion people and a cumulative GDP over US$3.4 trillion.


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