Intra-trade between African countries to jump 40% after AfCTFA deal, official

The volume of the intra-trade between the African counties will reach 30-40 percent after the mammoth  African Continental Free Trade Area (AfCFTA) goes into effect, Sherif El-Gabaly, head of the African Cooperation Committee at the Federation of Egyptian Industries said on Wednesday.

The current volume of the African intra-trade is at 15 percent which is considered to be very low, he added during El-Gabaly meeting with Guinean foreign minister.

He added that there is Egyptian keenness to activate the free trade agreement for the African continent, and achieve a maximum possible benefit from the agreement in terms of export indicators to the continent’s markets.

The number of African countries whose parliaments have ratified the agreement so far is no more than 37 countries, he noted

He also explained that the Egyptian-Guinean relations are strong and historical, and the volume of trade exchange is $ 8 million, which is considered to be very small and not up to the huge potentials and expectations