Can it Help Africans Recover Quickly?
Africa accounts for 20Pct of the world population but only makes up three percent of the world GDP, at USD2.6 trillion. The implementation of the African Continental Free Trade Area (AfCFTA) would, however, set in motion the largest regional free trade area in the world. Signed by all African countries, except for neighboring Eritrea, the agreement was supposed to be put into practice next month. However, the Coronavirus pandemic rushed in to steal its light as it did to a number of other plans around the world. Against all odds, some argue that now is the best time to launch the agreement across the continent as global supply chains are disrupted and being reconsidered by countries across the world. Even some go far as to claim AfCFTA would help African countries quickly recover from the impacts of the pandemic. Nonetheless, many say this may not hold true for Ethiopia as a few export commodities mark its comparative advantage. Haimanot Ashenafi, in her special report to EBR, explores.