The leaders from African Continent are on Wednesday expected to append their signatures to an agreement to create the first continental Free Trade Area.
The deal is expected to boost trade within African countries by 52% including cutting off tariff barriers for imports and exports within the continent.
Among the areas the protocol will focus are economic growth, industrialization, improved infrastructure development and business diversification.
Somalia, Kenya, Ethiopia and over 40 other countries are participating the conference that is hosted by the government of Rwanda.
The Trade Area which is one flagship projects of Agenda 2063 aims at deepening the integration process by allowing people to trade and move freely across the continent.
The project is also driven forward along with key related initiatives including Single African Air Transport Market.
Speaking at African Trade Minister on Monday in Kigali ahead of the Summit, AU Commission chairman, Moussa Faki Mahamat said the bloc will create new opportunities for the continent, which is faced by many challenges including poverty, droughts among others.
“Everything has been said about this African Continental Free Trade Area, it is crucial function in African integration, its economic spillover, solidarity of which is the symbol against other blocs in a world where competition is fierce,” Mahamat said, adding “Its positive impact on the well-being of our people, the expected opening up immense sources of jobs and the encouraging development prospects it offers to our youths.”
Somali Foreign Minister, Ahmed Issa Awad who also spoke at the meeting held ahead of today’s conference welcomed the move to establish new free trade bloc.
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