Common Market for East and Southern Africa
African leaders have established a single free trade area encompassing 26 countries and 625 million people in eastern and southern Africa. And next week, they’ll kick off a process to negotiate an all-Africa trade pact.
The completion of the Free Trade Area (FTA) procedures among the three African blocs, SADC, COMESA and the East African Community (EAC), depends on the unification of the rules of origin and tariff, according to Egypt’s Minister of Industry and Trade Mounir Fakhry Abdel Nour.
The Tripartite Free Trade Area (TFTA) spanning 26 countries is to be launched at a summit of heads of state and government on Wednesday in the Red Sea resort town of Sharm el-Sheikh.
Ethiopia signed Friday a grant agreement of 1.1 million Euros with COMESA to finance its regional integration programmes.
“We are studying establishing a unit at GAFI to provide economic and investment information to African countries,” says investment minister
Plans by African leaders to launch an ambitious Free Trade Area comprising of 26 countries and backed by over 600 million people next month are in the right direction for the private sector.
Common Market for Eastern and Southern Africa (COMESA) and Zambia Revenue Authority (ZRA) have launched the COMESA virtual trade facilitation system (CVTFS) aimed at tracking the movement of cargo to curb illicit trade.
The Tripartite Free Trade Area (TFTA) covering 26 countries will be launched in May, it has been agreed.
A senior official of African Union (AU) said Tuesday the long-awaited tripartite free trade area between three regional blocs is expected to be launched in May in Cairo, Egypt.
While bilateral free trade agreements, as a means to further the market-opening and rule-making agenda, have been globally picking up steam, there have also been parallel efforts to usher in a plethora of regional trade agreements and economic unions.
The Egyptian government expects to begin negotiations for free trade agreements with the Eurasian Economic Union, as well as with African economic blocs such as COMESA, SADEC and EALA, and to sign a deal with MERCOSUR in Latin America.
Most of the clauses in the agreement — to be signed this month in Cairo — have been finalised, apart from the preamble and the rules of origin.
If one takes a look at the real big winners in this project, it will soon be realized that multinational corporations mostly from Europe, North America and to some extent Asia which have set up base in Cairo, Johannesburg and Nairobi will be real winners.
The Tripartite Free Trade Area (FTA) by the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and the Southern African Development Community (SADC) will be launched in mid-December, 2014.
Three of Africa’s regional economic communities have agreed to launch the long-awaited Tripartite Free Trade Area at a joint summit of leaders from the regional groups scheduled for December in Egypt, APA learnt here Monday.
The government of Ethiopia is on the move to join the Common Market for Eastern and Southern Africa (COMESA) Free Trade Area (FTA) which enables the country to have preferential trade interaction between member countries.
Negotiations to set up a grand free trade zone encompassing 26 countries in eastern and southern Africa are progressing well and may be completed in 2015, a year before schedule, SADC officials reveal.
The Zambian government in collaboration with the Common Market for Eastern and Southern Africa (COMESA) has put in place a committee which will look at ways and means of increasing exports to the Africa Growth Opportunity Act market in the United States of America.
Kenyan sugarcane farmers and consumers face a bleak future, as Government departments tasked with implementing reforms in the sector drag their feet.