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The Continental Free Trade Area is a free trade area signed by 44 countries in Africa. It aims to deepen African economic integration by strengthening the free movement of people, capital, goods and services, promoting agricultural development, food security, industrialization and structural economic transformation.
The Continental Free Trade Area envisages combining market integration with industrial and infrastructure development to address Africa’s productive capacity problems.
The World Bank estimates that the successful implementation of the African Free Trade Area can increase Africa’s gross domestic product by $450 billion a year, or 7%, and help at least 30 million people out of extreme poverty by 2035.
