Tunis/Tunisia — The House of People's Representatives (HPR) unanimously passed at a plenary session held on Wednesday the draft organic law approving the agreement establishing the African Continental Free Trade Area (AfCFTA) No.69 of 2019.
The draft organic law was approved with 152 votes for, no rejections or abstentions.
The agreement aims to put in place an integral framework for a fruitful exchange at the level of trade relations between member countries of the African Union (AU).
Its objectives include strengthening the competitiveness of enterprises after easing trade transactions costs, reducing export linkages of major commodities and consolidating economic and social transition, in order to achieve full growth, industrialisation and sustainable development, in line with the AU's "Agenda 2063."
It also stipulates the dismantling of non-customs barriers that impede the movement of goods.
That agreement also aims to diversify trade between states and increase its volume by 50% by 2022, through the improvement of coordination levels in terms of trade liberalisation and the establishment of enforcement mechanisms, management and coordination necessary.