Potential Economic Benefits of the African Continental Free Trade Area for Africa and the EU
Despite some growth, intra-African trade activity remains at low levels and falls far behind the levels of internal trade observed in more integrated regions like the EU. Europe remains a major trade partner, although its African exports and impacts are on a decline. In their policy brief, Julian Hinz, Sonali Chowdhry, Anna Jacobs, and Rainer Thiele elaborate on the potential economic benefits of the African Continental Fair Trade Area (AfCFTA) for Africa and Europe. Their simulations show that the AfCFTA can lead to substantial welfare gains in Africa.