The Ethiopian parliament ratified the draft proclamation of African Continental Free Trade Area (ACFTA) agreement. The House of People’s Representatives (HPR) members voted unanimously in acceptance of the ACFTA agreement.

So far, 52 out of 55 African countries are reported to have signed the agreement. 20 of the 52, Ethiopia being one, have also ratified the agreement. This, in effect, makes the free trade area officially valid in Ethiopia.

ACFTA, the African Continental Free Trade Area, once established, is hoped it will enhance continental trade competition, promote job opportunities, improve productivity and expand continental trade destinations.

The African Continental Free Trade Area is expected to create a viable market for a billion people.

Source: ENA