Trade under the Continental African Continental Free Trade Area (AfCFTA) was launched on Friday at a virtual ceremony held by the Accra-based AfCFTA Secretariat.
This official launch of trade under the AfCFTA was decided last December during the 13th Extraordinary Session of the African Union Heads of State and Government on the AfCFTA.
The official launch of trade is an important step in economic integration in one of the world’s largest trading areas with 1.2 billion consumers today and nearly 2.5 billion in 2050.
Since the launch of this flagship project on March 21, 2018, during the AU Extraordinary Summit on the AfCFTA that took place in Kigali, Rwanda, HM King Mohammed VI had affirmed that “Morocco believes in a kind of co-development which is based on intra-African cooperation, economic complementarity, active solidarity and the pooling of resources and efforts.These are prerequisites for any inclusive growth and for sustainable human development on the Continent.”
“The goal, ultimately, is to transform Africa into a dynamic force and to make it a major player on the international scene for the benefit of our populations,” the Sovereign stressed in a Speech addressed to the participants in the Extraordinary Summit of Kigali.
During the 13th Extraordinary Session of the AU Heads of State and Government on the AfCFTA, which approved the launch of the AfCFTA as of January 1st, Morocco reaffirmed its commitment to implementing the agreement as a pillar of African economic integration.
The Kingdom also reiterated its readiness to contribute to the advancement of work leading to the operationalization of the AfCFTA and the start of trade exchanges.
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