China and Djibouti have launched Africa’s biggest free trade zone — Quartz

China was responsible for launching the first phase of Africa’s biggest free trade zone as what’s part of another major step to secure its position as a global trade leader.

On Thursday (July 5), Djibouti opened the first phase of the Djibouti International Free Trade Zone (DIFTZ), a $3.5 billion project that spans an area of 4,800 hectares. The $370 million, 240-hectare pilot zone consists of four industrial clusters which will focus on trade and logistics, export processing, business and financial support services, as well as manufacturing and duty-free merchandise retail. The opening of the zone also coincided with Djibouti’s hosting of the Africa-China Economic Forum, which brought together government officials and the private sector with the aim of promoting economic…

Read More

*** This news item is 3rd party content and is included strictly for non-commercial informational purposes.

  • 1