201807.05
0

On Sunday, July 1, 2018, the President of the Republic of South Africa, Cyril Ramaphosa, signed the African Continental Free Trade Area agreement (AfCFTA), which aims at constituting a free trade area among member States of the African Union. The Agreement was initially signed by 44 States on March 21, 2018, during the XXth extraordinary Summit of the African Union held in Kigali, Rwanda.

The entry into the free-trade agreement by the Republic of South Africa bolsters the scope of the AfCFTA intents, also in light of the primary role played by South Africa, which is the first economic power of the Continent. The South African Government is currently waiting for the Parliament to ratify the Agreement.