KIGALI, Feb. 15 — Rwandan President and AU Chairperson Paul
Kagame has said a “historic pact” on the Continental Free Trade Area (CFTA)
“will be signed” in Rwandan capital city Kigali in March.
The agreement is expected to get signed at an extraordinary summit of the
African Union (AU), said Kagame at the 42nd Annual General Assembly of the
Federation of African National Insurance Companies (FANAF), which opened on
Monday in Kigali.”This is a historic pact which has been nearly 40 years in
the making, and it represents a major advance for African integration and
unity,” said the Rwandan leader on Monday.He noted that the progressive
trade liberalization Africa expects in the years ahead will mean new
opportunities for African firms to compete and cooperate across borders and
build continental reach.”We will need to harmonize our regulations, and
fully implement CFTA in order to get the economic benefits which our people
expect and even deserve,” said Kagame, who is serving the term of the AU
chairperson for the year 2018. “I therefore want to ask for your active
support, throughout the ratification and implementation process.”The
decision to establish the CFTA by an indicative date of 2017 was adopted in
January 2012 at the 18th Ordinary Session of the Assembly of Heads of State
and Government of the AU, held in Addis Ababa, Ethiopia.According to the
AU, the CFTA will bring together 54 African countries with a combined
population of more than 1 billion people and a combined gross domestic
product of more than 3.4 trillion U.S. dollars. – XINHUA
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