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Government approves agreement to establish African Free Trade Area

The Moroccan government approved on Thursday a bill on the establishment of the African Continental Free Trade Area (AfCFTA).

The approval of the trade agreement came at a government weekly meeting in the capital Rabat.

The agreement aims to create a single market for goods and services in Africa and lay the foundation for the establishment of a Continental Customs Union at a later stage.

It also aspires to facilitate investment and promote industrial development through diversification and regional value chain development, agricultural development and food security.

The bill shall be transferred to the parliament for validation.

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