Thursday, March 21, 2019 dSasEyOCCH+
Parliament Passes Ethiopia’s Membership to Free Trade Agreement (+Photo)
Parliament Passes Ethiopia’s Membership to Free Trade Agreement (+Photo)
Parliament Passes Ethiopia’s Membership to Free Trade Agreement (+Photo)
Addis Ababa, Mar 21 (Prensa Latina) The House of Peoples’ Representatives (Parliament) approved Thursday Ethiopia’s membership to the African Continental Free Trade Agreement (AfCFTA).
This decision confirms the decision taken last February by the Council of Ministers, which claimed in an official statement that the Ethiopian government is thus responding to the purpose of establishing regional integration based on the free market opening in the continent.
Ethiopia’s current efforts for regional stability and its trajectory in defending pan-African causes will make a more united continent a reality with multiple growth opportunities for all countries, the text added at the time.
AfCFTA is the largest free trade zone since the foundation of the World Trade Organization in 1995 and was created by the African Union (AU), whose aim is to eliminate customs tariffs and increase the regional circulation of resources.
Creating an area of people’ free circulation, establishing the monetary union and establishing a single market for goods and services, with sovereign movement of business and investments, are other of the many ambitions of this treaty.
The Agreement, signed in Kigali, Rwanda, in March last year, is a project prioritized in the AU’s Agenda 2063, an established tool for Africa’s socio-economic transformation over the coming decades.
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