Agreement Establishing A Tripartite Free Trade Area Among The Comesa Eac And Sadc

The Tripartite Free Trade Area (CFTA) is a proposed African free trade agreement between the Common Market for Eastern and Southern Africa (COMESA), the Southern African Development Community (SADC) and the East African Community (EAC). [1] The implementation of NAFTA is essential to address the main trade restrictions in the region, namely the production structure and composition of exports in Member States/partner countries. The COMESA-EAC-SADC common market covers 26 countries, with a total population of nearly 600 million people and a total domestic product (GDP) of about $1.0 trillion. The main objective of the tripartite CAC-SADC is to strengthen and deepen the economic integration of the Southern and Eastern African region. This is achieved through the harmonization of policies and programmes among the three Regional Economic Communities (CIs) in the areas of trade, customs and infrastructure development. It must now be ratified by the parliaments of the various Member States to enter into force. Lusaka, Tuesday, February 25, 2020: The implementation of the Tripartite Free Trade Agreement is now in sight after the increase in the number of countries that will ratify and ratify the agreement. Eight countries have ratified the agreement to date and six others to reach the threshold of 14 needed for the entry into force of the agreement. “As Africa strives to consolidate the benefits of intracontinental trade and become competitive, which is very important for our region, the long-standing commitment of our Heads of State and Government is to promote regional integration as a comprehensive vision of creating an increased volume of trade in the tripartite region,” said COMESA SG. The texts of the FREE TRADE AGREEMENT are here: www.tralac.org/resources/by-region/comesa-eac-sadc-tripartite-fta.html . . .

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