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UPDATE 1-Launch of African free trade deal postponed due to coronavirus -official

Published 28/04/2020, 16:54

(Adds quotes, detail)
LAGOS, April 28 (Reuters) - The implementation of a mammoth
African free trade agreement will not begin on July 1 as planned
due to disruptions caused by the coronavirus outbreak, a senior
official said on Tuesday.
"It is obviously not possible to commence trade as we had
intended on 1 July under the current circumstances," Wamkele
Mene, Secretary-General of the African Continental Free Trade
Area, said during a conference call.
Mene did not say whether there was a new targeted
implementation date, and left the conference call before the
question and answer session.
The 55-nation continental free-trade zone would, if
successful, create a $3.4 trillion economic bloc with 1.3
billion people across Africa and constitute the largest new
trading bloc since the World Trade Organization formed in 1994.
Mene said he was confident the deal would still go forward.
"The political commitment remains, the political will
remains to integrate Africa's market and to implement the
agreement as was intended," he said.
Mene said that as African governments do not have the
firepower to launch the same type of economic stimulus packages
that the United States and Europe are putting forward to
mitigate the economic damage from the coronavirus pandemic,
intra-African trade could serve the same purpose.
"That's our stimulus package. That's how we're going to get
back on track as Africa."

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