“And it will boost businesses and trade between African countries in very important dimensions,” he said.
As of July this year, the AfCTFA had been signed by 54 African states and it has already gone into force in 28 countries.
Once a wide array of agreements and protocols has been agreed, the trade union which already includes South Africa and Egypt may become a formidable force and hold significant sway in the global economy.
Chergui singled out for praise the effective integration policies of the ECOWAS which the diplomat believes has the potential to transform economic dynamics across the continent.
The economic union of 15 West African countries plans to introduce a common currency, the Eco, to integrate their economies and overcome the English-French post-colonial divide.
“If you consider the bold decisions taken by ECOWAS to adopt a single currency you can imagine it as a multiplier of such decisions on the integration of the continent, on the economy and on our trade,” he said.
He added that such developments might stem the flow of migrants through the Mediterranean Sea.
The Russia-Africa summit and business forum, co-chaired by the presidents of Russia and Egypt, began on Wednesday with more than 40 African countries expected to be represented by their heads of state or government, while 11 others sent their vice presidents, foreign ministers, or ambassadors.