2023-06-13 09:28:10
The African Development Bank (AfDB) to make a donation of 1.3 million dollars to support the process of integration of the Great as part of the accession of Madagascar in the African Continental Free Trade Area (ZLECAF) . The signing of the agreements was made yesterday at the Ministry of Economy and Finance. This funding will help Madagascar in the implementation of the processes of its membership in the ZLECAF.
The agreement will reduce customs duties between member countries of the zone and will deal with general policy aspects related in particular to trade facilitation and services, while encompassing regulatory provisions such as health standards and technical barriers to trade.
The AfCFTA aims to stimulate trade between African countries from different sub-regions while allowing the continent to develop its own value chains. Intra-African trade is indeed only 15% of total trade, much lower than intra-regional trade in other parts of the world such as Europe, where it is 67%, and Asia, where it is 60%. %.
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