President lauds launch of Africa Free Trade Area agreement
9 July 2019
President Cyril Ramaphosa says the coming into effect of the Africa Continental Free Trade Area Agreement (AfCFTA) is a milestone that fulfils a dream crafted by the founders of the Organisation of African Union (OAU) 60 years ago when they conceptualised an integrated Africa.
President Ramaphosa was speaking at the conclusion of his Working Visit to Niger where he attended the 12th Extraordinary Summit of the African Union (AU) from 07 – 08 July 2019.
The Summit marked the entry into force of the Agreement and formally launched the operational phase of the African Internal Market.
President Ramaphosa anticipates the agreement will catapult the economies of many African countries onto a higher growth trajectory and says South Africa stands to significantly benefit from being part of the world’s largest single market encompassing 55 countries with a combined population of 1, 2 billion people and a combined GDP of USD 3, 2 trillion.