EU supports launch of African Continental Free Trade Area with €63 million
The EU has expressed political and financial support for the launch of a new intra-African trade area for goods and services, the African Continental Free Trade Area (AfCFTA), which . The EU has already committed €62.5 million (US$71 million) in financial resources to support the AfCFTA as a part of the Africa-Europe Alliance for Sustainable Investments and Jobs.
European Commissioner for International Cooperation and Development Neven Mimica welcomed the AfCTA’s entry into force. According to Mimica, the trade area is "a pillar of the Africa-Europe Alliance, as trade and integrated markets in Africa will promote sustainable investment and job creation".