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在线翻译:
szdaily -> World Economy -> 
African leaders launch ‘historic’ free trade deal
    2019-07-09  08:53    Shenzhen Daily

AFRICAN nations officially launched a landmark trade agreement at the African Union (AU) summit in Niger on Sunday, with the long sought-after agreement hailed as a historic step toward “peace and prosperity” across the continent.

After 17 years of tough negotiations, the AU launched the “operational phase” of the African Continental Free Trade Area (AfCFTA) in what AU commission chairman Moussa Faki described as a “historic” moment.

“An old dream is coming true, the founding fathers must be proud,” said Faki, adding that the AfCFTA would create “the greatest trading area in the world.”

Niger’s President Mahamadou Issoufou hailed it as “the greatest historical event for the African continent since the creation of the Organization of African Unity in 1963,” referring to the AU’s predecessor.

AU officials announced the launch of the five “operational instruments” of the African Continental Free Trade Area (AfCFTA).

Nations agreed to shared “rules of origin, the monitoring and elimination of non-tariff barriers, a unified digital payments system and an African trade observatory dashboard,” the AU commission announced.

The agreement was given a boost when the presidents of Nigeria and Benin signed on to rapturous applause Sunday morning at the two-day summit in Niger’s capital Niamey.

With Nigeria and Benin on board, 54 of the 55 AU member countries have now signed onto the deal, with holdout Eritrea announcing it will consider joining the pact.

Around 4,500 delegates and guests — including 32 heads of state and more than 100 ministers — attended the AU summit in Niamey, which has been revamped and boasts a brand-new airport, upgraded roads and new hotels for the occasion.

The agreement was formalized at the end of April when it crossed the launch threshold, which required ratification by at least 22 countries.

The zone will be operational from July 1, 2020, giving countries time to adapt to the agreed changes, Issoufou said.

Christina Chatima, Malawi’s director of trade, said the trade agreement is a “game changer for Africa.”

“Most of us export with Europe and the United States. It’s about time we started trading more with each other,” she said.

However, despite the launch, there are still key issues leaders have yet to resolve.

Leaders could not agree on a common criteria for rules of origin for some sectors.

(SD-Agencies)

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