KITUYI: A step forward for continent if transport, utilities, capital and the right rules of commerce are put in place
A garments factory at an export processing zone in Kenya. Today, only 15 per cent of exports go to other countries on the continent, compared with intra-trade levels of 61 per cent in Asia and 67 per cent in Europe. FILE PHOTO | NMG
The year 2019 marks a memorable period in the history of African trade with the entry into force of the African Continental Free Trade Agreement (AfCFTA). The agreement establishes the largest free trade area in the world since the creation of the World Trade Organisation in 1995.
AfCFTA will cover more than 1.2 billion people and over $3 trillion in GDP. It creates a myriad of opportunities for entrepreneurs across the continent and has the potential to enhance competitiveness, promote industrial development through diversification and regional value chain development as well as sustainable socio-economic development and structural transformation.
