Launch Of African Free Trade Deal Postponed Due To COVID-19-Secretary-General

The implementation of a Africa’s free trade agreement has been postponed due to the outbreak of the coronavirus pandemic, the Secretary-General of the African Continental Free Trade Area, Wamkele Mene, told Reuters.

The African Continental  Free Trade Area (AFCFTA) which would create a $3.4 trillion economic bloc was earlier  scheduled to kick off on July 1.

AfCFTA would be the largest free trade area since the formation of the World Trade Organisation as the current population of the 55- nations is 1.2 billion and it  is further projected to grow to 2.5 billion by 2050.

While disclosing the development, Meme said, “It is obviously not possible to commence trade as we had intended on 1 July under the current circumstances.”

He however did not disclose a new date for the launch, but said he was confident the deal would still be implemented.

“The political commitment remains, the political will remains to integrate Africa’s market and to implement the agreement as was intended,” he said.

Meme added that since the government across the continent do not have enough resources to give out a huge economic stimulus package for the restart of business, the AfCFTA would serve as the stimulus.

“That’s our stimulus package. That’s how we’re going to get back on track as Africa,” Meme added.