Egyptian Prime Minister Mostafa Madbouly said on Saturday that Egypt “renews its commitment” to providing all forms of support to fellow African countries in order to ensure the success of the African Continental Free Trade Area (AfCFTA), a statement by the cabinet said.
Madbouly made the comments in a speech while virtually attending the African Union’s (AU) 13th extraordinary summit on the AfCFTA between the AU’s heads of state on behalf of Egypt’s President Abdel-Fattah El-Sisi.
He stressed the importance of reaching a consensus on the sticking points of the rules of origin by no later than the end of June 2021, and the need to adhere to the proposed timeframes for resolving these points in the first stage of negotiations.
Madbouly also highlighted the necessity of starting negotiations for the second phase on investment, competition protection and intellectual property, and to complete them according to the proposed timeframe in December 2021, the statement said.
The AfCFTA – which, when operational, will be the largest free trade bloc in the world – aims at accelerating intra-African trade and boosting Africa’s trading position in the global market by strengthening Africa’s common voice and policy space in global trade negotiations, according to the AU.
Source: Al-Ahram Online
