Af DB President attends historic AU summit





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The president of the African Development Bank (https://www.AfDB.org), Akinwumi Adesina joined continental leaders in Niger for an African Union summit which saw the official launch of the African Continental Free Trade Area agreement – the world’s largest free trade area since the formation of the World Trade Organization.
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The agreement, ratified in April, will cover a market of 1.2 billion people and an estimated gross domestic product (GDP) of $2.5 trillion, across all 55 member States of the African Union.



The Bank has been central in shaping the AfCFTA agreement, setting its strategy and format and approving a $4.8 million grant to the AU for the establishing of the Secretariat and to accelerate its roll out. Nigeria made history at the summit by becoming the 54th African country to sign up.



Commending all the parties involved for bringing this historic agreement to fruition, President of Niger, Mahamadou Issoufou said: “The time has come to translate words into actions. The continent has waited for far too long, and we are glad this historic moment for the people of Africa is being witnessed in Niger.”



His comments were echoed by AU President, Abdel Fattah al-Sissi and AU Chairperson, Moussa Faki Mahamat who both stressed the need to celebrate the strides the continent has made.



“An old dream has come true. The founding fathers must be proud,” said Faki.


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