Angola | 2020.10.15
Ratification of the Agreement Establishing the African Continental Free Trade Area

The President of Angola has ratified the Agreement Establishing the African Continental Free Trade Area (AfCFTA).

The AfCFTA, which was signed by 54 member States of the African Union, is a trade agreement that foresees the creation, by 2028, of a single market, as well as the constitution of an economic union and an area for free movement of persons.

This Agreement will create the world’s largest free-trade area, and contribute to the reduction or progressive elimination of tariffs and non-tariff barriers to trade and investment. This open market will certainly bring countless new business opportunities and will strengthen the commercial relations between the investors and economic operators of the many countries concerned.

The AfCFTA came into force on 30 may 2019, and trade thereunder is scheduled to commence on 1 January 2021.

Click here for the official text of the AfCFTA.

For more information on this Legal Alert please contact:
mirandaalliance-alert@mirandaalliance.com

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