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President Cyril Ramaphosa says the coming into effect of the African
Continental Free Trade Area Agreement (AfCFTA) is a milestone that fulfils a
dream crafted by the founders of the Organisation of African Unity 60 years
ago when they conceptualised an integrated Africa. President Ramaphosa
was speaking at the conclusion of his Working Visit to Niger, where he
attended the 12th Extraordinary Summit of the African Union (AU) from 7 ¡V 8
July 2019.
The summit marked the entry into force of the agreement and formally
launched the operational phase of the African Internal Market.
¡§President Ramaphosa anticipates the agreement will catapult the economies
of many African countries onto a higher growth trajectory and says South
Africa stands to significantly benefit from being part of the world¡¦s
largest single market encompassing 55 countries with a combined population
of 1.2 billion people and a combined GDP of US$3.2 trillion.
¡§The President sees the implementation of the agreement as a platform for
African countries to trade among themselves and reap the benefits of the
tariff-free area,¡¨ said The Presidency's spokesperson, Khusela Diko.
One of the key spin-offs is expected to be greater focus and urgency for
infrastructure development across the continent to support economic
activities.
While at the summit, President Ramaphosa participated in the high-level
meeting of the AU on Libya and the first mid-year coordination meeting of
the AU and the Regional Economic Communities.
The President also held a number of bilateral meetings with his counterparts
from the Republic of Zimbabwe, President Emmerson Mnangangwa; the Democratic
Republic of Congo, President Felix Tshisekedi; Niger President, Mahamadou
Issoufou; and the President of the Arab Republic of Egypt and AU
Chairperson, Abdel Fattah el-Sisi.
During the visit, the President was supported by the International Relations
and Cooperation Minister, Naledi Pandor; Finance Minister, Tito Mboweni; and
Trade and Industry Minister, Ebrahim Patel.
The Assembly of Heads of State and Government of the AU selected Ghana as
the host country for the Secretariat of the AfCFTA.
The decision was announced on Sunday, 7 July, 2019, at the 12th AU
Extraordinary Summit after Ghana beat competition from Egypt, eSwatini,
Ethiopia, Kenya, Madagascar and Senegal.
The core mandate of the Secretariat will be to implement the AfCFTA.
n his acceptance speech, during the close session of the summit, the
President of the Republic, Nana Addo Dankwa Akufo-Addo, thanked the Assembly
for the decision, stating that ¡§it is a privilege that, for the first time
in our nation¡¦s history, we have the responsibility of hosting an important
pan-African institution¡¨.
¡§We have, today, taken very important steps towards working with a common
voice and a common purpose to exploit the abundant wealth and resources of
our great continent for the benefit of all our peoples. Indeed, the ¡¥Africa
We Want¡¦ is achievable,¡¨ the President said.
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