UAE – African trade average surges to $50 billion annually, boosted by AfCFTA economic agreement
August 12, 2021
The World Bank estimates that the 54-nation AfCFTA economic bloc launched in 2021, has the potential to lift at least 30 million Africans out of poverty, boost the continent’s income by $450 billion by 2035 (a gain of 7 percent) and increase Africa’s exports by $560 billion. For international players Africa presents one of the last major investment opportunities and the UAE is already benefiting, as the new framework gains momentum in creating a single, continent-wide market for goods and services.
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