Ethiopia hands over AfCFTA ratification instrument to AU
Addis Ababa, April 10, 2019 (FBC) – Ethiopia today deposited the instrument of its ratification of the agreement on African Continental Free Trade Area (AfCFTA).
Mamo Mihretu, Senior Advisor to the Prime Minister and Chief Trade Negotiator handed over the instrument to Moussa Faki Mahamat, Chairperson of the African Union Commission.
The handover ceremony was witnessed by Ambassador Woinshet Tadesse, Permanent Secretary for African and Middle East Asian Countries at the Ministry of Foreign Affairs.
On the occasion, Moussa Faki said AfCFTA is set to enhance competitiveness at the industry and enterprise level through exploiting opportunities for scale production, continental market access and better reallocation of resources in continental Africa.
Mr. Mamo said that the decision is consistent with Prime Minister Dr Abiy Ahmed’s vision of creating a closer and enhanced regional integration, where minds are open to ideas and markets are open to trade
He added AfCFTA would expand intra Africa trade through better harmonization across RECs and Africa in general.
The AfCFTA, one of the biggest trade agreements since the creation of the World Trade Organization (WTO), attempts to create a single market in Africa.