May 19, 2020

Kenya submits bill to endorse the continental free trade zone agreement

kenya
AfCFTA
African Continental Free Trade Area
Trading bloc
professo
1 min
Kenya submits bill to endorse the continental free trade zone agreement

Kenya may become the first nation to offer legal support to the continental free-trade zone following its bill submission that endorses the trading bloc.

The bill is set to be debated by the National Assembly on whether to ratify the African Continental Free Trade Area (AfCFTA).

“Parliament is requested to take note of the content of this memorandum, take note of the Cabinet approval for signing, ratification and engagement under phase II and ratify the framework establishing the African Continental Free Trade Area in good time to facilitate entry into force of the AfCFTA and pave the way for Kenya to exploit opportunities arising from the AfCFTA,” stated Adan Mohamed, House of Industrialisation Secretary.

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The treaty aims to establish a single market, creating access to duty-free for traders, and becoming one of the largest single-trade blocs in the world.

An outcome of the treaty will be a single passport and currency for residents in all the member countries.

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