President Buhari in his speech on the creation of Continental Free Trade Area said it will end poverty in the continent.
The President’s Senior special assistant on media and publicity said the President made the presentation during the 30th ordinary session of the Assembly of Heads of State and Government in Addis Ababa, Ethopia.
“It is Nigeria’s position that as African leaders and Principal architects of our Union, we must now speed up action to conclude the negotiation and establish the CFTA.”
NIn 2012 African Union set timeline that they will create CFTA by 2017, but it fail.
“In a rapid changing global economy, with much uncertainty, we believe that the establishment of CFTA would provide Africa with tremendous opportunity to achieve significant growth drive by intra-African trade.”
He also said the establishment would lead to improvement in economy and Unify African states.
“The primary objective is economic namely, for trade in good and services on the continent.
- ” A single unified market would leads to a comprehensive and mutually beneficial trade agreement amongst African Union Members State.“
President Buhari said Africa will be able to negotiate with other region with CFTA, reduce poverty and create job opportunities.
“If we integrate African’s Market for trade in goods and services, we will not only double intra-African trade, but also negotiate with other regions or continent on trade matters.”
“If we increase our trade, we grow faster, create more jobs and reduce poverty.
” Thus, with CFTA, our continent will be more integrated, United and prosperous. ”
“The establishment of the CFTA is also the first step for the African Union in the implementation of ‘Agenda 2063’ for the socio-economic transformation of the continent as well as being a building block in the achievement of the goals of the 1991 Abuja Treaty on the African Economic community.”
Nigeria is the chairman of the negotiation, President Buhari commend AU on their support.