ECA chief says continental free trade pact promising stimulant for Africa's economic growth
                 Source: Xinhua | 2019-06-02 18:57:14 | Editor: huaxia

File photo shows Rwandan President Paul Kagame (L), President of Niger Mahamadou Issoufou (C) and Chairperson of AU Commission Moussa Faki Mahamat (R) unveils a plaque of the African Continental Free Trade Area (AfCFTA) in Kigali, Rwanda on March 21, 2018. (Xinhua/Gabriel Dusabe)

ADDIS ABABA, June 2 (Xinhua) -- Executive secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, said that the African Continental Free Trade Area (AfCFTA), which took effect on Thursday, is a promising stimulant for economic growth in Africa.

Songwe made the remarks during her meeting with president of the European Economic and Social Committee, Luca Jahier, late Friday, the ECA said in a statement on Saturday.

As the AfCFTA took effect on Thursday, African countries under the umbrella of the African Union (AU) are set to launch the operational phase of the African free trade accord in July this year during the AU extraordinary summit in Niamey, Niger.

Songwe, during her meeting with the EU delegation, highlighted "the role of the AfCFTA as an exciting and promising stimulant for economic growth in Africa, infrastructure investments as well as in helping address the economic causes for African migration to Europe, among others," the ECA statement read.

"One of the most important impacts of AfCFTA is that it opens the door for funding Africa's infrastructural needs, whether it's railways, highways or telecommunications, or energy," the ECA chief said.

The ECA and EU officials "agreed to work together on concrete ways to amplify the role of non-state actors as implementation of the AfCFTA begins," the statement said.

The continental free trade pact has laid the foundation for what could be the world's largest free trade zone by the number of participating countries, covering more than 1.2 billion people with a combined gross domestic product of 2.5 trillion dollars, the AU said.

The African free trade accord, once operational, is projected to boost the level of intra-Africa trade by more than 52 percent by the year 2020, according to the ECA.

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ECA chief says continental free trade pact promising stimulant for Africa's economic growth

Source: Xinhua 2019-06-02 18:57:14

File photo shows Rwandan President Paul Kagame (L), President of Niger Mahamadou Issoufou (C) and Chairperson of AU Commission Moussa Faki Mahamat (R) unveils a plaque of the African Continental Free Trade Area (AfCFTA) in Kigali, Rwanda on March 21, 2018. (Xinhua/Gabriel Dusabe)

ADDIS ABABA, June 2 (Xinhua) -- Executive secretary of the United Nations Economic Commission for Africa (ECA), Vera Songwe, said that the African Continental Free Trade Area (AfCFTA), which took effect on Thursday, is a promising stimulant for economic growth in Africa.

Songwe made the remarks during her meeting with president of the European Economic and Social Committee, Luca Jahier, late Friday, the ECA said in a statement on Saturday.

As the AfCFTA took effect on Thursday, African countries under the umbrella of the African Union (AU) are set to launch the operational phase of the African free trade accord in July this year during the AU extraordinary summit in Niamey, Niger.

Songwe, during her meeting with the EU delegation, highlighted "the role of the AfCFTA as an exciting and promising stimulant for economic growth in Africa, infrastructure investments as well as in helping address the economic causes for African migration to Europe, among others," the ECA statement read.

"One of the most important impacts of AfCFTA is that it opens the door for funding Africa's infrastructural needs, whether it's railways, highways or telecommunications, or energy," the ECA chief said.

The ECA and EU officials "agreed to work together on concrete ways to amplify the role of non-state actors as implementation of the AfCFTA begins," the statement said.

The continental free trade pact has laid the foundation for what could be the world's largest free trade zone by the number of participating countries, covering more than 1.2 billion people with a combined gross domestic product of 2.5 trillion dollars, the AU said.

The African free trade accord, once operational, is projected to boost the level of intra-Africa trade by more than 52 percent by the year 2020, according to the ECA.

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