"The new move will increase the volume and effectiveness of investment, encourage growth rates, create jobs and increase the added value of the continent's wealth," he told Xinhua.
He added that the establishment of the AfCFTA is an important step on the path of economic integration between the countries of the African continent that will help create large partnerships between economic institutions as well as economic entities in Africa that help accelerate the growth of the continent.
He noted that the new AfCFTA will face some challenges that should be overcome, such as the absence of road and rail networks connecting the countries of the continent, adding that the private sector can play a pivotal role in overcoming this problem.
In addition, he said, the continent is suffering from a severe shortage of logistical support, non-tariff barriers, borders and political differences.
Meanwhile, Majid Abu al-Khair, the undersecretary of the African Affairs Committee of the Egyptian House of Representatives, said that the AfCFTA is a major development for the continent.
"The agreement ensures that the continent's resources are used effectively and more safely," Abu al-Khair told Xinhua.
He said that the volume of intra-African trade is low due to transportation, political and borders problems in addition to security risks, stressing that one of the main objectives of the agreement is to remove these obstacles as well as trade fees.
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