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Africa is bucking the trade-war trend with a pact that would transform the continent into the world's biggest free trade area. But will it work?

Africa is bucking the trade-war trend with a pact that would transform the continent into the world's biggest free trade area. But will it work?
Shutterstock/anton_ivanov



The African Continental Free Trade Area aims to scrap tariffs on imports between African countries.




The eventual agreement will result in free trade, better communication and there are talks of freedom of movement and a common currency in the long run.




But economists warn that there is going to be a lot of political push back, and the poorest countries could lose out and a Greece-euro situation could develop.




View Markets Insider for more stories.




Just as trade wars and Brexit are splitting alliances apart, at least one area of the world is coming together.
This week all but one African country signed a continent-wide free trade agreement — the African Continental Free Trade Area — which economists are saying could open up the region for increased development.
What the agreement aims to eventually achieve is a potential European Union-like allowance for free movement across the continent, tariff-free trade and perhaps even a common currency.
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