African Development Bank officials have stated that, with the rapidly changing world of trade and rising echoes of unilateralism, Africa must trade by ensuring rapid growth in Intra-African trade.
The financial support is said to come in the context of the important role of the African Continental Free Trade Area. When fully implemented, the African Continental Free Trade would raise the share of Intra-African trade in Africa’s total trade from 16% to 52%, and increase the value of Africa’s traded goods and services by USD 35 billion per year, according to statements made by African Development Bank executives during a dinner organised to mark the 2018 Annual Meetings and 25th anniversary of the African Export-Import Bank (Afreximbank).
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