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Malaysian Palm Oil Industry Perspective in Pre and Post-african Continental Free Trade Agreement

Year: 2024

Type: article

Abstract: South Africa (USD401 billion) and Nigeria (USD395 billion), followed by Egypt (USD358 billion).The top three African economies combined make up almost half of the African region's GDP.Although none of the African countries have a GDP of over USD600 billion, the African region still has the potential to expand its trade and infrastructure development.For economic integration and harmonisation in the region, African countries relied on the Regional Economic Committees (RECs).However, in March 2018, the African Continental Free Trade Agreement (AfCFTA) was established by the African Union (AU) to consolidate trade amongst the African countries.The AfCFTA agreement creates the largest free trade area in the world where it connects 1.46 billion people across 54 countries with a combined GDP valued at USD3.4 trillion.

Source: Oil Palm Industry Economic Journal

DOI: 10.21894/opiej.2024.06

Author: HISHAM HUSSAIN

Institution: Malaysian Palm Oil Board

Language: English

Topic: Oil Palm Production and Sustainability

Subfield: Ecology

Field: Environmental Science

Domain: Physical Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure, Partnerships for the goals

Open Access status: bronze

Funder: Malaysian Palm Oil Board