The Federal Government on has said that there’s a need for the African Union Commission to quickly establish the Continental Free Trade Area (CFTA) so as to encourage infra-African trade. This was disclosed by the Minister of Finance, Mrs. Kemi Adeosun, at the opening session of the first extra-ordinary meeting of the African Union Sub-committee of Directors-General of Customs.
When established, the CFTA would promote the utilisation of African products and improve the economic status of its citizens.
According to Adeosun, while the activities of Customs at the borders could make or break an economy, there was a need for the leadership of Customs in each African country to come up with innovative ways to expedite the movement of goods and services.
This, the minister added, should be done in a simplified and predictable manner to enhance trade facilitation and promote economic growth within the continent.
The African Union’s objectives of fostering unity, promoting economic growth and enhancing security, among others, find expression in what Customs administrations of the AU are about to do.
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