Free Trade Africa

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The Washington Post reported on a new African free-trade deal that would include all 54 countries. Here’s what you need to know about the Continental Free Trade Area (CFTA):

  1. The CFTA would constitute the largest free-trade area in the world.
  2. It’s part of a larger global trend of mega-regional trade agreements.
  3. The CFTA would help African countries develop.
  4. The CFTA would boost African trade by more than 50 percent.
  5. The CFTA will build off the ECOWAS and TFTA agreements.
  6. The CFTA has widespread political and economic support.
  7. 2017 is the target deadline.

This is exciting news, so long as it is more successful than previous trade deals.