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The African American Continental Free Trade Agreement is the world's largest free trade area/agreenment. It's focus is mainly in the African Union.
It is a free trade area that has been created to be a liberalised market for goods, services, etc through consecutive rounds of negotiations.
The 55 countries of the African Union (and the members)and 8 regional economic communities.
Signed: March 2018
Ratified: May 2019
Came into force: January 2021
For this, we ask questions like, "how have the countries benefitted?", :"Did one benefit in a specific area", etc.
Africa benefitted because this agreement would make income boost in the country go up by a 7% gain ($450 Billion).
Yes. Certain areas focus on:
For this, we asked questions like "how has the world been impacted due to this agreement/organization?", "Have other nations/regions copied this model?", and "Is the world better, safer, and/or smarter?"
Following the implementation of AFCTFA, the world has learned lots of knowledge and has been given a model as to how to cooperate with other countires to achieve one big goal.
This agreement has showed other countries how they should treat those of the lower class & give them more financial help. One of the agreements benefits is that it will potentially lift 30 million people out of extreme poverty. It will also substantially increase the income of about 60 million people who are just slightly above the extreme poverty line. This impact shows the world how to treat lower class citizens and gives tips on how.
This agreement also provides an opportunity for the U.S.
corporations to effectively sustain their growth in challenging global environment of intensifiying geopolitical tensions. It has benefitted and captivated us and those around us globally. This agreement most likely inspires not only the US, but other countries/nations as well, and will continue to do so as it grows daily.
https://www.brookings.edu/wp-content/uploads/2022/05/Landry-Signe-Testimony-April-27-2022.pdf
www.au-afcfta.org
https://www.weforum.org/agenda/2021/02/afcfta-africa-free-trade-global-game-changer/