Ethiopia has begun trading under the African Continental Free Trade Area (AfCFTA), Secretary-General Wamkele Mene announced in Nairobi on Thursday.

Kenya is the first destination for Ethiopian goods under the AfCFTA Guided Trade Initiative (GTI), Ethiopia’s state minister for Trade and Regional Integration Yasmin Wohabrebbi, said with the first shipment comprising meat, coffee, fruits and vegetables, beans, edible oil, and select manufactured products such as textiles.

Mr Mene Comesa Heads of state Summit that 24 countries are currently trading under AfCFTA.“Modest progress has been reported. However, more needs to be done to build the economic self-sufficiency of our continent by creating a truly viable domestic market in Africa through the AfCFTA. And no country should be left behind,” he said, urging the Comesa member states to join one of the world’s largest trading blocs.

The entry of Ethiopia ends a seven-year preparatory period since signing the agreement in Kigali in 2018, marking a significant step toward regional market integration.

Minister Yasmin said select services, including telecommunications, were being prepared for liberalisation “to align with AfCFTA rules.”Besides Kenya, Ethiopia targets Tanzania, Uganda, Zambia, South Sudan, Nigeria, Malawi, Cameroon, and Egypt for trade on a reciprocal basis.

The GTI was launched on October 7, 2022, in Accra, to allow a trial phase under the Agreement featuring eight countries: Cameroon, Egypt, Ghana, Kenya, Mauritius, Rwanda, Tanzania and Tunisia.

The AfCFTA’s initial goal was to add 24 countries to the Guided Trade Initiative (GTI) for the expanded pilot trading of various goods.

The AfCFTA is set to create a single market of 1.4 billion people with a combined GDP of $3.4 trillion US, offering opportunities for exporters, investors, and regional integration.

© Copyright 2022 Nation Media Group. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).