Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib, affirmed that the African Continental Free Trade Area (AfCFTA) represents a cornerstone for achieving economic integration among African nations and for boosting intra-African trade and joint investments.
El-Khatib praised the commitment of African countries to continue advancing the implementation of the agreement, underscoring its vital role in supporting the continent’s economic development and strengthening regional cooperation.
The minister’s remarks came during the 17th Meeting of the African Union Ministers of Trade, hosted in Cairo in September, and during the virtual follow-up session held in October. Both gatherings were convened under Egypt’s chairmanship of the Bureau of the Council of African Ministers of Trade under the AfCFTA framework.
During its presidency, Egypt successfully led the Council to achieve a landmark consensus among member states on the outstanding rules of origin for key sectors, including textiles, garments, and automobiles, through an interim implementation mechanism. This breakthrough came after more than four years of intensive negotiations.
The resolution marks a significant step forward in operationalizing the AfCFTA, which is considered one of the most ambitious trade initiatives in Africa’s history, aiming to create the world’s largest free trade area by connecting 1.3 billion people across 55 countries with a combined GDP exceeding $3.4 trillion.
Experts say that reaching an agreement on rules of origin is pivotal for enabling the movement of goods across borders under preferential terms, paving the way for deeper integration, stronger value chains, and enhanced competitiveness of African industries.
Egypt’s active leadership in advancing AfCFTA negotiations reflects its broader strategy to strengthen Africa’s collective economic position, attract investment, and support sustainable growth across the continent.
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