Egypt's Prime Minister (PM) Moustafa Madbouli will take part later today in the 13th extraordinary summit of the African Union (AU), on behalf of President Abdel Fattah El-Sisi.
The virtual summit will discuss the implementation of the historic African Continental Free Trade Area (AFCFTA).
last year the 12th edition of the summit was hosted in Niamey, Niger, with the participation of presidents and prime ministers from 55 African countries.
AFCFTA Agreement
The agreement establishing the AFCFTA was signed on March 21, 2018, in Kigali, Rwanda, according to the summit official website.
The agreement entered into force on May 30, 2019, after the deposit of the 22nd instrument of ratification. As of date, 33 African countries have ratified the AFCFTA Legal Instrument.
Unlike conventional free trade agreements, the AFCFTA agreement is a comprehensive agreement with a development dimension, as it covers not only trade in goods and trade in services; but also investments, intellectual property rights, competition policy, and electronic commerce, among others.
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