Algeria Officially Joins AfCFTA’s Guided Trade Initiative, Opening New Horizons for Unrestricted Commerce
BY: Hana Saada
ALGIERS- In a historic development, Algeria formally became a member of the African Continental Free Trade Area’s (AfCFTA) Guided Trade Initiative on Saturday. The announcement was made by the Minister of Commerce, Mr. Tayeb Zitouni, during his address at the opening of the AfCFTA Guided Trade Initiative forum held in Algiers.
Minister Zitouni affirmed that Algeria’s accession to the initiative marks a significant milestone, enabling unrestricted trade exchanges between Algeria and other AfCFTA member countries. Going forward, commercial interactions will be conducted seamlessly, free from customs barriers.
This strategic move aligns Algeria with eight other African nations already part of the initiative: Cameroon, Egypt, Ghana, Kenya, Mauritius, Rwanda, Tanzania, and Tunisia. Notably, Tanzania is in the process of formalizing its membership, having initiated the necessary procedures.
The AfCFTA, which came into effect on January 1, 2021, has established the world’s largest free trade area by the number of participating countries. With 55 member countries within the African Union, it constitutes a market of approximately $1.3 trillion, boasting a combined GDP of $3.4 trillion. Beyond its economic impact, the AfCFTA has the potential to elevate the continent’s income by $470 billion.
Algeria’s full participation in the AfCFTA’s Guided Trade Initiative reflects its commitment to regional economic integration, fostering collaboration, and streamlining trade processes for the collective benefit of African nations.
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Recently honored with the Media Leadership Award from the Minister of Communication, Mohamed Laâgab, Dzair Tube continues to shape the landscape of Algerian digital news, maintaining a position of influence and impact in the media industry.
