EU pledges full support for AfCFTA
15 Nov 2019 - by
With the implementation of the African Continental Free Trade Area (AfCFTA) edging closer, members of the European Union (EU) have added their support to the agreement saying it has the potential to develop mammoth economic growth throughout Africa.
Speaking at the Africa Investment Forum in Johannesburg on Wednesday, Axel Pougin de La Maisonneuve, EU Private Sector Development deputy director, said the EU was in full support of the AfCFTA as continental trade agreements were what the EU was founded upon.
“Together with the African Union and governments in Africa, we also agree that the AfCFTA is the solution to the development challenge of Africa regarding investment and job creation,” said Pougin de La Maisonneuve.
“Any FTA is part of our [EU] DNA. The European Union FTA has seen the European economy grow and develop and has created jobs for many people in Europe.”
The AfCFTA is set come into effect from July 2020, with South Africa, along with 53 other African nations, having signed it in a move to enable companies to expand their markets and make the flow of goods easier between African states.
And according to Pougin de La Maisonneuve, the AfCFTA agreement is a game changer for the continent.