Afreximbank: CFTA starting point of Africa's development

SHARM EL SHEIKH, Egypt, Dec 9 (MENA) - The president of the African Bank for Export and Import (Afreximbank), Benedict Orama, said Sunday he considers the Continental Free Trade Area (CFTA) as the starting point and gateway for Africa's development.

Addressing the "strong leadership and collective commitment" penal session held on the sidelines of the Africa 2018 Forum in Sharm El Sheikh, he said some 49 countries signed CFTA agreement in Kigali in March although at first he expected only 25 countries to join it. This was impressive, he added.

Orama said Africa enjoys tremendous potentials, praising the efforts exerted by Egypt to host the first-ever Intra-African Trade Fair (IATF2018) next week, noting that the event is promoted by the African Export-Import Bank (Afreximbank) and organized in collaboration with the African Union. The seven-day trade show will provide a platform for entry into Africa’s single market of over one billion people joined together by the African Continental Free Trade Area, he added.