Tanzania has ratified the agreement establishing the African Continental Free Trade Area (AfCFTA), effectively joining the 1.2 billion people market and $3.4 trillion African economy, the country’s Trade and Industry minister has said.
Kitila Mkumbo made the announcement through a tweet, making Tanzania the 38th country to ratify the deal. The ratification comes barely two months after AfCFTA secretary General Wamkele Mene held discussions with President Samia Suluhu Hassan.
Pleased to announce that today, the 9th of September 2021, the Parliament of the United Republic of Tanzania has RATIFIED the Agreement Establishing the African Continental Free Trade Area (AfCFTA), effectively joining the 1.2 bilion market and USD 3.4 trillion African economy!
— Kitila Mkumbo (PhD) (@kitilam) September 9, 2021
During the talks on June 30 at State House Dodoma, President Suluhu reaffirmed Tanzania’s commitment to ratify the AfCFTA deal.
She also pledged that Tanzania would fully support the continent economic emancipation drives.
“The government is finalising the process towards the ratification of the AfCFTA agreement. On the other hand, Tanzania will fully collaborate with you to achieve your mission of recovering the economy of the African continent,” Suluhu said.
With Tanzania’s ratification, only South Sudan remains in the East African Community as Kenya, Uganda, Rwanda, and Burundi have already ratified the agreement.
The deal, signed by 54 of the African Union’s (AU) 55 member states – other than Eritrea — commits countries to 90 per cent tariff cuts within a five-year period.
The agreement seeks to accelerate intra-African trade and boost Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations.