Cairo-to-Cape Town Free Trade Area Nears Launch

A screen shot of what the Cairo-to-Cape Town free trade area will look like. (Graphic: Business Insider)

A screen shot of what the free trade area will possibly look like.
(Graphic: Business Insider)

Mike Bird of Business Insider is reporting that Africa is about to launch a Cairo-to Cape Town free trade area that is bigger than the European Union.  Bird reports:

“The world is just about to get a free trade area that’s bigger, by population, than either the European Union or NAFTA.

It’s got nothing to do with the much-publicized Trans-Pacific Partnership (TPP) Transatlantic Trade and Investment Partnership (TTIP). In fact, you’ve probably never heard of it.

It’s actually the Tripartite Free Trade Area, a deal that will wrap together 26 African nations with a population north of 600 million.

The agreement will be signed off on June 10 in Egypt.  Much of west Africa isn’t covered, but the deal means a huge stripe of southern and eastern Africa will be.

According to the Brookings Institution, it’ll cover 58% of Africa’s economic activity and over $1 trillion (£651.1 billion) in GDP.”

Capital Economics named Africa as one of the world’s few potential bright spots for boosting global trade.

Read more at Business Insider.

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