Ethiopian President Sahle-Work Zewde and President John Magufuli are seeking to capitalise on opportnuites in livestock, agriculture and manufacturing enbled by the new African Continental Free Trade Area Agreement (AfCFTA, according to local reports.

Ethiopia has a relatively well-developed leather and footwear industry, from which Tanzanian counterparts could learn, said the reports, adding that the country offers “untapped opportunities”.

Ethiopia has around  60.39 million cattle, while Tanzania has around 34 million cattle, it said, quoting Tanzania’s National Bureau of Statistics.

The AfCFTA agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product valued at US$3.4 trillion. It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures, according to the World Bank.