The Continental Free Trade Area agreement seeks to create a single market for goods and services and movement of persons to deepen economic integration of the continent.
The Director, Industrial and Trade Development of AfDB, Dr Abdu Mukhtar, said this in an interview with newsmen on Sunday.The CFTA was adopted on March 21, 2018 and has presently been ratified by 22 countries.
“I have been talking to some of these people in Nigeria and I think the reason why they have been skeptical is that they don’t understand what is in it for them. “They are apprehensive of whether it will benefit them or whether their market will be swollen by companies from other countries. The director said the African Union was aware that establishing the secretariat as soon as possible was very important while expressing optimism that it would be concluded by this year.
Mukhtar said AfDB had signed a Memorandum of Understanding with the Korean Customs Service to work with a number of countries to help them orgarnise their customs services. “And secondly, working with airlines that will connect effectively across the continent and one good example is the Ethiopian airlines.
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