Ethiopia Ratifies Continental Free Trade Area Agreement

ABN#

The House of People’s Representative (HPR) has approved the draft proclamation for the ratification of African Continental Free Trade Area Agreement today.

The HPR ratified unanimously the proclamation for the ratification of African Continental Free Trade Area (ACFTA).

As of the end of February this year, 52 out of 55 countries have reportedly signed the agreement and 20 of these, including Ethiopia, have ratified the agreement.

With two African countries coming on board, the agreement will come into effect. The African Continental Free Trade Area will create a 1 billion people market.

The agreement of establishing the African Continental Free Trade Area (ACFTA) is expected to enhance continental trade competition, promote job opportunities, improve productivity and expand continental trade destination.

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