KENYA TO DEPOSIT OFFICIAL INSTRUMENTS OF AFRICAN FREE TRADE AREA WITH AU THIS WEEK

NAIROBI, Kenya will deposit the official instruments of the African Continental Free Trade Area (AfCFTA) with the African Union (AU) this week following its ratification by the National Assembly here last week, says State House Spokesperson Manoah Esipisu.

This follows the decision to create the Africa trading bloc by African Heads of State and Governments in March this year. Less than two months after 44 African countries agreed to create the AfCFTA, Kenya has taken the lead in ratifying the pact.

The trade pact expected to benefit the 1.2 billion population of Africa by increasing employment and economic growth in the continent. Intra-African trade has been relatively low so far, accounting for only 10 per cent of all commerce and Kenya now hopes to grow its trade volumes once the AfCFTA is ratified by at least 22 countries to come into effect.

Source: NAM NEWS NETWORK

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