The African free trade zone is slowly making its way

Recently, several African countries began their commercial activities under the new continental free trade area, called Zlecaf, after several months of delay due to the current situation derived from COVID-19. Experts suggest that it will take time to see the Zlecaf in its maximum splendor, and that this start of activity has been symbolic in nature.

There are several initial challenges that the continental free trade zone must face: bureaucracy, harmonization of legislation, investment in infrastructure, and a long etcetera. These challenges will cause a slight delay in full performance operation.

The objective of the African Continental Free Trade Area is to bring together 1.3 billion people in the same economic bloc, making it the largest free trade area since the establishment of the World Trade Organization.

In this way, trade between neighboring countries will be boosted and the continent itself will be allowed to develop its own value chains. According to the World Bank, this fact could be of great help to many African countries for their own development.