by AKANI CHAUKE
JOHANNESBURG, (CAJ News) – THE United Kingdom (UK) will provide £35 million to support negotiations and implementation of the African Continental Free Trade Area (AfCFTA).
The announcement of the financial commitment comes as AfCFTA Secretariat Secretary General, Wamkele Mene, visits London to discuss how the UK can continue its work as a strategic partner to the AfCFTA.
As the world’s largest free trade area, the AfCFTA has the potential to boost Africa’s economic growth by driving industrialisation, generating jobs and delivering prosperity across the continent.
The move will create a single continental market, making it easier and more cost-effective for UK businesses to export goods and services across the 54 AfCFTA member states.
“As an independent free trading nation, the UK strongly supports the AfCFTA – the largest free trade area in the world,” said UK International Trade Secretary Anne-Marie Trevelyan.
“We’re keen to see continued momentum on outstanding negotiations, and on practical implementation of the agreement on the ground,” she added.
AfCTFA is expected to lift 30 million people out of extreme poverty, create jobs, and provide new commercial opportunities for businesses across Africa and the UK.
“We are pleased to receive this support from the Government of the UK, as it ushers us into a partnership for strengthening cooperation related to customs and trade facilitation and trade policy across the African continent,” Mene said.
– CAJ News