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Continental Free Trade Zone : Giant Step Towards Economic Sustainability
If fully implemented the African continent would becoming the world trade hub.
The African Continental Free Trade (AfCFTA), is a free trade area. It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union Countries. The free-trade area is the largest in the world in terms of the number of participating countries since the formation of the World Trade Organization (WTO). Accra, Ghana serves as the Secretariat of AfCFTA and was commissioned and handed over to the AU on August 17, 2020 in Accra.Lire aussi : Présidentielle au Congo: Dans l’attente des résultats
Map of Africa. Photo: aperianglobalAs 2020 draws to a close, it is worth recalling that the year has turned out rather differently than had been envisioned for Africa and Nigeria.
The compelling visions for Africa and Nigeria were respectively encapsulated in The Silencing the Gun in Africa by 2020 initiative and the Vision 20: 2020. While Silencing the Gun by 2020 is a regional initiative aimed at achieving the strategic goal of a conflict-free continent by 2020; Nigeria’s Vision 20 in 2020 was aimed at making Nigeria grow and join the ranks of the twenty largest economies in the world by 2020. Neither goal has been achieved as 2020 comes to an end. How were these two 2020-related goals set? Why were the targets not met? And what are the lessons from the failure to achieve these two targets?