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Strengthening Africa trade deal
Concurrently, addressing food insecurity and implementing growth-enhancing policies are vital to ensure the continent can navigate the turbulent global environment effectively.
Intra-African trade is growing, albeit unequally, keeping its performance below its potential. However, the continent's young and dynamic workforce, abundant natural resources, and a growing middle class offer Africa a large and diverse market for goods and services. The African Continental Free Trade Area (AfCFTA) presents a historic opportunity for regional countries.
A report titled African Trade Report 2024: Climate Implications of the AfCFTA Implementation, released last month by the African Export-Import Bank (Afreximbank), reveals that trade increased by 7.2 percent in 2023, reaching $192 billion.
