DStv Channel 403 Tuesday, 05 November 2024

Discussion | AfCFTA is the largest free trade bloc in the world

JOHANNESBURG- The African Continental Free Trade Area agreement (AfCFTA) is the largest free trade bloc in the world.  

It has an estimated combined GDP of US $3.4 trillion and access to a population of one-point-three billion people.

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A recent Standard bank conference revealed that intra-African trade, at 16%, lags far behind other blocs.

Countries within the EU account for 63% of trade in that bloc, while trading blocs in Asia reached 55% and 49% in the North American bloc. 

Tunde Macaulay Head of Africa Regions and offshore at Standard Bank spoke to eNCA.

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