Ramaphosa wants "Made in Africa" to be a reality

2021-11-16 17:55:43
Ramaphosa wants "Made in Africa" to be a reality

South Africa's President Cyril Ramaphosa has appealed to states that have not ratified the African Continental Free Trade Area (AfCFTA) agreement to do so, urged a speedy resolution of outstanding issues, and made a clarion call for the domestication of the landmark trade framework.

A total of 39 out of 55 countries have deposited their instruments of ratification for the historic agreement, which establishes the biggest single trade area globally, comprising 1.3 billion people and a cumulative GDP of $3.4trn.

South Africa’s neighbours, Botswana and Mozambique, as well as Morocco and Sudan, are among the 16 states whose instruments of ratification remain outstanding.

President Ramaphosa made the appeal during the official launch of the seven-day Intra-African Trade Fair (IATF) 2021 at the Durban Convention Centre in KwaZulu-Natal.

The African Continental Free Trade Area is a free trade area founded in 2018, with trade commencing as of 1 January 2021. It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations.

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