Over 80% of Africa’s exports are shipped overseas mainly to the European Union (EU), China and the US, with the continent trailing behind its counterparts in intra-regional trade at 17% compared to Europe at 69% and Asia at 59%. There are huge benefits in establishing a free trade area among the 1.3bn people (accounting for Africa’s population) with a combined GDP of US$ 2.5 trillion from 54 countries. Free trade could create millions of jobs and reduce unemployment among the continent’s teeming youth population as free trade could be a catalyst for structural change and economic development. Read about how PDF II contributed to Nigeria’s decision to sign up to the AfCFTA.
