Assembly/AU/Decl.1(XVIII) Page 1 DECLARATION ON BOOSTING INTRA-AFRICAN TRADE AND THE ESTABLISHMENT OF A CONTINENTAL FREE TRADE AREA (CFTA) We, the Heads of State and Government of the African Union, meeting at the 18th Ordinary Session of our Assembly in Addis Ababa, Ethiopia, from 29 to 30 January 2012, on the theme Boosting Intra-African Trade: Recalling the recommendation of the Sixth Ordinary Session of the Conference of African Union (AU) Ministers of Trade on the need to fast track the establishment of a Continental Free Trade Area; Taking Note of recent developments in the global economic, trading and financial systems; Aware that Africa is one of the regions of the world with the lowest level of intra-regional trade, a factor which makes our continent particularly vulnerable to external trade and financial shocks; Concerned by the current low level of trade between African countries and aware of the need to enhance Africa’s productive capacities; Mindful of the fact that enhanced intra-African trade and deepened market integration can contribute significantly to sustainable economic growth, employment generation, poverty reduction, inflow of foreign direct investment, industrial development and better integration of the continent into the global economy; Noting that the African Union was established to achieve, among its main objectives, the acceleration of the attainment of the African Economic Community (AEC); Aware of the numerous obstacles to the growth of Africa’s intra and inter-regional trade; Commending the Heads of State and Government of the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC), and Southern African Development Community (SADC) for their initiative to establish the Tripartite Free Trade Area (FTA) that will cover about half the membership of the African Union; Taking Note of the Report and Resolution of the Seventh Ordinary Session of the AU Ministers of Trade Conference held in Accra, Ghana, from 29 November to 3 December 2011; Hereby: 1. REAFFIRM our commitment to the acceleration and deepening of Africa’s market integration;