https://en.sputniknews.africa/20230809/ethiopian-undertakes-measures-to-support-african-continental-free-trade-area-1061200025.html
Ethiopian Undertakes Measures to Support African Continental Free Trade Area
Ethiopian Undertakes Measures to Support African Continental Free Trade Area
Sputnik Africa
In order to promote intra-African commerce and strengthen the continent's independence and its positions on the world market, the African Union (AU) championed... 09.08.2023, Sputnik Africa
2023-08-09T17:46+0200
2023-08-09T17:46+0200
2023-08-09T17:46+0200
sub-saharan africa
ethiopia
east africa
african continental free trade area (afcfta)
de-dollarization
free trade agreement
free trade
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Ethiopian Airlines has announced a 10% cargo discount in order to increase the success of AfCfTA, Mesfin Tassew, the Airline's CEO, announced.The 10% disscount will take effect from August of 2023, state media reported. Mesfin pointed out that Ethiopian is a Pan-African carrier connecting the people of the continent more than any other airline operating in Africa.As the major aim of AfCFTA is to improve people-to-people connectivity and economic integration, African countries should make progress towards its effective implementation and increase intra-African trade on the continent, he said.The global trend towards de-dollarization and transition to national currencies has acquired an African dimension with the Pan-African Payment and Settlement System (PAPSS) that will allow African nations to trade among themselves using their own currencies.The AfCFTA, which entered into force in 2021, is the world's largest free trade agreement in terms of number of countries and population. All 55 states (excluding Eritrea) recognized by the African Union have signed the agreement to join the AfCFTA, and 46 states have ratified it.
https://en.sputniknews.africa/20230629/africa-aspires-to-de-dollarization-to-reduce-exposure-to-us-manipulation-expert-says--1060237177.html
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ethiopia, east africa, african continental free trade area (afcfta), de-dollarization, free trade agreement, free trade
ethiopia, east africa, african continental free trade area (afcfta), de-dollarization, free trade agreement, free trade
Ethiopian Undertakes Measures to Support African Continental Free Trade Area
In order to promote intra-African commerce and strengthen the continent's independence and its positions on the world market, the African Union (AU) championed the African Continental Free Trade Area (AfCFTA) in 2012, which officially opened for business in 2021.
Ethiopian Airlines has announced a 10% cargo discount in order to increase the success of AfCfTA, Mesfin Tassew, the Airline's CEO, announced.
The 10% disscount will take effect from August of 2023, state media reported.
Mesfin pointed out that Ethiopian is a
Pan-African carrier connecting the people of the continent more than any other airline operating in Africa.
As the major aim of AfCFTA is to improve people-to-people connectivity and economic integration, African countries should make progress towards its effective implementation and increase intra-African trade on the continent, he said.
“Therefore, we have to do our part so that the trade between African airlines, not only in people to people but also goods, grows. So we gave the incentive to facilitate and help this. We have given this special discount because we want to help the business community and governments. Depending on the situation, we may sometimes give further discount based on agreement," CEO said as cited by state media.
The global trend towards de-dollarization and transition to national currencies has acquired an African dimension with the Pan-African Payment and Settlement System (PAPSS) that will allow African nations to trade among themselves using their own currencies.
The AfCFTA, which entered into force in 2021, is the world's largest free trade agreement in terms of number of countries and population. All 55 states (excluding Eritrea) recognized by the African Union have signed the agreement to join the AfCFTA, and 46 states have ratified it.
