The African Continental Free Trade Area (AfCFTA) represents a monumental shift in Africa’s economic landscape, aiming to create a single market for goods and services across 54 countries, encompassing over 1.3 billion people. AfCFTA seeks to eliminate tariffs on 90 percent of goods, facilitate the movement of capital and people, and promote investment and sustainable development. According to the World Bank, the agreement could boost Africa’s income by up to USD 450 billion by 2035 and lift 30 million people out of extreme poverty.
For East Africa, and Tanzania in particular, AfCFTA offers unprecedented opportunities to enhance regional trade and attract investment, but success will depend on bold legal strategies and targeted policies that transform these challenges into catalysts for East Africa’s economic growth and make AfCFTA not just a framework, but a powerful engine for progress.
This article explores:
- Increased trade and investment opportunities for East Africa
- The role of AfCFTA in enhancing regional integration
- Legal and policy reforms needed to maximise AfCFTA’s impact
- Addressing challenges like non-tariff barriers and high freight costs
Click here to download and read the full article and explore how East Africa can leverage AfCFTA to drive economic transformation.
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