The US government has said the Africa Continental Free Trade Area (AfCfta) deal is attracting US companies to invest, even as analysts warned big companies take advantage of the deal, sidelining small businesses.
Judd Devermont, special assistant to the US president, spoke at a news conference in Washington last week, saying the scope of the AfCfta deal is attractive to US companies.
“Removing tariffs, trade barriers and non-trade barriers with ever larger markets, gives our companies the ability to invest in more countries,” Devermont explained, with the example: “If you invest in The Gambia, you will probably want also invest in Guinea-Bissau and Senegal. Because the free trade area harmonizes some of the regulations, it makes it easier for our companies to invest in more countries,” concluded the special assistant to the president of the United States. [Da Redazione InfoAfrica]
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