Albert Muchang has said Africa is doing the right thing in creating the Continental Free Trade Area (CFTA) even with the current retreat from multilateralism.
According to him, the vision of the CFTA to achieve an integrated, prosperous and peaceful Africa, driven by its own citizens represented a dynamic force in the international system.
“With more than 1.2 billion people, a growing middle class, over 3.4 trillion dollars in aggregate GDP, and being one of the 10 largest economies in the world in aggregate GDP, the CFTA is a commercially viable undertaking.
“It has the potential to be among the largest free trade areas in the world in terms of population.
“It will bring about economic stability and growth in Africa and will address issues of trade policy, trade facilitation, productive capacity and trade information on the continent.
“The CFTA will also tackle the challenge of trade related infrastructure, trade finance and factor market integration, including free movement of people, free movement of capital and right of establishment,’’ Muchanga added.
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