The main objectives of the African Continental Free Trade Area (AfCFTA) agreement are to create a single continental market for goods and services with free movement of business persons and investments, and thus to pave the way to accelerate the establishment of a customs union in the future.
The AfCFTA agreement has the ultimate goal of increasing the ease of trade and investment across African borders as well as eliminating tariffs on intra-African trade, reducing unemployment, increasing infrastructure development and creating a more competitive and sustainable environment for cross-border trade.
The AfCFTA entered into force on 30 May 2019, and trade under the AfCFTA started on 1 January 2021.