More than 40 African Heads of State have signed an agreement in the Rwandan capital Kigali for the establishment of a Free Trade agreement that will create the world’s largest market.

The African Continental Free Trade Area will bring together all the 55-member countries of the African union to trade tariff free.

Nigeria will not be among countries signing the agreement on Wednesday after withdrawing from the process.

The leaders, who included South Africa’s President Cyril Ramaphosa, signed the agreement establishing the Free Trade Area, the protocol on the free movement of persons as well as the Kigali declaration for the launch of the African Continental Free Trade Area.

The signing has been described as historic and a new dawn for Africa.

It comes after 55 years since the formation of the Organisation of African Unity (OAU) and 16 years since the formation of the African Union.

Leaders at the summit says this brings the continent closer to the dream of integration.

The agreement will create a market of one billion people with a combined Gross Domestic Product (GDP) of 2.5 Trillion US dollars.