Africa trade insight

Abstract

The African Continental Free Trade Area (AfCFTA) aims to create a unified market for over 1.4 billion people, with a combined GDP of around USD 3 trillion. The 2018 Agreement promotes the free movement of goods, services, and capital, enhancing manufacturing investment, regional value chains, and economic resilience. Effective national implementation is key, with the agreement ratified by most African Union member states. The African Union Assembly and the United Nations Economic Commission for Africa (ECA) have supported the development of national AfCFTA strategies since 2019, aiding 36 countries so far. In January 2024, the ECA, AfCFTA Secretariat, and UNDP held a conference in Nairobi to foster collaboration and share best practices in AfCFTA implementation. This event marks the start of a regular platform for building a learning community dedicated to Africa’s economic transformation.