Egypt’s industries federation expects Africa free trade Agreement to see light early 2021

The African Continental Free Trade Area will come into effect early next year as 30 countries in the continent have approved its implementation, Sherif El-Gabaly, head of the African Cooperation Committee at the Federation of Egyptian Industries expected.

Trading under the AfCFTA Agreement was due to commence on 1 July 2020, but as a result of the COVID-19 global pandemic, this date has been postponed. It has been indicated that the new date for operations is 1 January 2021, he added.

e added that there is Egyptian keenness to activate the free trade agreement for the African continent, noting that the union is currently working on setting up the marketing plan and trade missions to be implemented to achieve the maximum possible benefit from the agreement in terms of export indicators to the continent’s markets.