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Ethiopia to ratify Africa trade pact: PM

Xinhua | Updated: 2018-05-15 09:30

Ethiopia's Prime Minister Abiy Ahmed attends a rally during his visit to Ambo in the Oromiya region, Ethiopia, April 11, 2018. [Photo/Agencies]

ADDIS ABABA - Ethiopian Prime Minister Abiy Ahmed on Monday said his country would ratify the African Continental Free Trade Area (AfCFTA) agreement, giving a major boost to the continental economic initiative.

The PM made the remark during the opening of the Conference of African Ministers of Finance, Planning and Economic Development in Addis Ababa.

Ahmed said ratifying the AfCFTA agreement will boost intra-Africa trade and boost employment opportunities for Africa's predominantly young population.

Ethiopia, Africa's second most populous nation at around 100 million people which also happens to be East Africa's largest economy, is home to the AU headquarters, making its expected ratification of AfCFTA especially significant.

So far, Ghana and Kenya have ratified the Continental Free Trade Area, though 44 African countries have signed the AfCFTA document.

A minimum of 22 countries need to ratify the AfCFTA document for it to come into force.

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