AfCFTA: Economic and Distributional Effects

The 80th World Bank Group Morning Seminar “The African Continental Free Trade Area: Economic and Distributional Effects”

The African Continental Free Trade Area (AfCFTA) agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.

The World Bank report, The African Continental Free Trade Area: Economic and Distributional Effects, is designed to guide policymakers in implementing policies that can maximize the agreement’s potential gains while minimizing risks. Creating a continent-wide market will require a determined effort to reduce all trade costs. Governments will also need to design policies to increase the readiness of their workforces to take advantage of new opportunities.

At this morning seminar, Maryla Maliszewska, Senior Economist, Trade and Regional Integration Unit, World Bank and one of the lead authors, will introduce the report’s main findings.  This seminar will be held in English, without translation into Japanese.