{"id":107863,"date":"2021-11-16T09:30:09","date_gmt":"2021-11-16T08:30:09","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=107863"},"modified":"2021-11-16T09:56:49","modified_gmt":"2021-11-16T08:56:49","slug":"akinwumi-adesina-afcfta-will-soon-become-worlds-largest-free-trade-area","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/11\/16\/akinwumi-adesina-afcfta-will-soon-become-worlds-largest-free-trade-area\/","title":{"rendered":"Akinwumi Adesina: AfCFTA will soon become world&#8217;s largest free trade area"},"content":{"rendered":"<p>President of the African Development Bank (AfDB), Akinwumi Adesina has stated that investors should look to Africa for business opportunities because the Africa Continental Free Trade Area will soon become the largest globally.<\/p>\n<p>This was stated on Monday by AfDB President, Adesina while speaking at the Intra-Africa Trade Fair (IATF) in South Africa.<\/p>\n<p>Adesina said owing to the <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/11\/14\/nigeria-records-51-new-cases-of-covid-19-in-five-states\/\">COVID-19<\/a> pandemic, the need for inter-regional trade is important.<\/p>\n<p>The AfDB president said investors are not in business if they are not on the African continent.<\/p>\n<p>\u201cInvestors know if you\u2019re not in Africa, you\u2019re not in business,\u201d he said.<\/p>\n<p>\u201cThey know that with over 50 countries harmonising tariffs, rules and standards, the Africa Continental Free Trade Area will soon become the largest free trade area in the world since the establishment of the World Trade Organisation.<\/p>\n<p>\u201cBasically, Africa\u2019s entire development, trade and investment community is here to explore policy gaps in infrastructure, trade and regional integration.<\/p>\n<p>\u201cThe second edition of the Intra-African Trade Fair offers an exceptional platform to negotiate deals and agree on the steps required to promote intra-regional trade and accelerate the operationalisation of the Africa Continental Free Trade Area.<\/p>\n<div>\n<p>\u201cThe Africa Continental Free Trade Area will create a market of 1.3 billion people and drive a combined gross domestic product of $3.3 billion. The size of consumer and business expenditures in Africa will rise to $6.7 trillion by 2030.\u201d<\/p>\n<p>Adesina said the trade fair offers the avenue for expansion of networking opportunities, exchanging ideas and obtaining feedback.<\/p>\n<p>\u201cTake the example of Eze Ndubuisi from Nigeria. Eze specialises in aerial robotics to mechanise African farm fields to reduce the adverse effects of agrochemicals. He was one of the exhibitors at the 1st edition of the Intra-Africa Trade Fair,\u201d he said.<\/p>\n<p>\u201cIt didn\u2019t take long before Eze received an invitation from the government of Singapore to open an office in the city state. Today, his company Aerial Industries is revolutionising farming around the globe. That\u2019s how fast it can go.<\/p>\n<p>\u201cThe challenges ahead are enormous. But we will bounce back \u2014 strongly, boldly, and more united than ever. Together, there is no limit to what we can achieve.\u201d<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>President of the African Development Bank (AfDB), Akinwumi Adesina has stated that investors should look to Africa for business opportunities because the Africa Continental Free Trade Area will soon become the largest globally. This was stated on Monday by AfDB President, Adesina while speaking at the Intra-Africa Trade Fair (IATF) in South Africa. Adesina said [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":4582,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[38],"tags":[11619,22536,780,19],"class_list":["post-107863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-africa","tag-afdb-president","tag-africa-continental-free-trade-area","tag-akinwumi-adesina","tag-covid-19"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Akinwumi Adesina: AfCFTA will soon become world&#039;s largest free trade area<\/title>\n<meta name=\"description\" content=\"President of the African Development Bank (AfDB), Akinwumi Adesina has 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