Continental: Continental Free Trade Area (CFTA) Implementation Project

Description

The Continental Free Trade Area (CFTA) Implementation Project aims to boost cross-border trade in Africa through the creation of a single market of 1.2 billion people, with a GDP of $3.5 trillion in Africa.

The Bank’s Investment

The African Development Bank, through the African Union Commission, is committing Approx. USD 4,900,000 over a 3-year period (2019 – 2021) to support the implementation of the CFTA

Economic and social benefits

The CFTA implementation project is expected to achieve the following results by the end of the implementation period:

  • Establishment of a CFTA Secretariat & its implementation structures;
  • Implementation of the tariff liberalization programme;
  • Establishment of regional mechanisms for the audit/verification of tariff schedule/liberalization conformity;
  • Secured net gain of $2.8 billion in real income for Africans.
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