Kenya has been ranked third among African countries that stand to gain most from the continental free-trade zone that is expected to start work in January, Word Bank reveals.
Only Ivory Coast and Zimbabwe are said to benefit more than Kenya from the African Continental Free Trade Area (AfCFTA) — the largest since the creation of the World Trade Organisation in 1994.
The World Bank reckons Kenya’s relatively developed industrial potential and human capital will give it an edge from reduced trade barriers on the continent.
Kenya is also among those that have already reduced trade costs and barriers with neighbouring countries.
“Most of AfCFTA’s income gains are likely to come from measures that cut red tape and simplify customs procedures,” the World Bank`.
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