AU SUMMIT TO PROCLAIM CONTINENTAL FREE TRADE AREA – ANGOLAN TRADE MINISTER

The Summit of heads of State of the African Union set for 2017 may proclaim Continental Free Trade Area, said the Angolan Trade minister, Fiel Domingos Constantino.

Fiel Constantino was speaking to Angop at Luanda International Airport after attending the just-concluded 2nd African Union Trading Forum Meeting of the Continental Free Trade Area (CFTA) held Monday and Tuesday in Addis Ababa, Ethiopia.

The official told Angop that the intention is to extend the trade throughout the continent, thus reducing customs and tariff barriers from South Africa to the Maghreb.

The objective is to create and increase the value added to domestic production, he said.

The official added that the move is meant to give a quality step toward intercontinental trade taking into account its different economic regions, and the preferential trade is only conducted within the countries in the context of those regions.

In addition to the incumbent ministers, the forum also brought together those of Industry and Mining.

The forum was preceded of preparation meeting of senior experts of the sector, member States, African Union and officials in charge of trade negotiations at technical level.

Source: Nam News Network