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Views: Visits 20 The start of trading under the African Continental Free Trade Area (AfCFTA) agreement on 1 January 2021 marks the dawn of a new era in Africa’s development journey. Over time, the AfCFTA will eliminate import tariffs on 97% of goods traded on the continent, as well as address non-tariff barriers. Opening up a market of over 1.3 billion people is expected to spur more intra-African trade while increasing the appeal of direct investment in Africa for the rest of the world. Intra-Africa trade has historically been low. In 2019, only 12% of Africa’s $560 billion worth of imports came from the continent. African countries have also been trapped in the lower levels of the global economy by selling low-value raw materials and buying higher-value manufactured goods. This is seen as one of Africa’s major challenges for development. The free trade agreement seeks to reverse this.

Lake chadNigeria generalKwame nkrumahTeniola tayoIndustrial development of africaAfrican unionAfrican continental free trade areaAccelerated industrial developmentResearch officerLake chad basinஏரி சாட்நைஜீரியா ஜநரல்முடுக்கப்பட்ட தொழில்துறை வளர்ச்சிஆராய்ச்சி அதிகாரிஏரி சாட் பேசின்