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.
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.
Christophe de Vroey, EU trade and communication counsellor, is interviewed by CNBC Africa on what has changed for Kenya’s horticulture sector since the economic partnership agreement.
The East African Community (EAC) wants to expand its European market for horticultural products (flowers, vegetables and fruits) through a new trade partnership with Norway, Switzerland, Liechtenstein and Iceland.
The Tripartite Free Trade Area (TFTA) covering 26 countries will be launched in May, it has been agreed.
Pact with Burundi, Kenya, Rwanda, Tanzania and Uganda — to be expanded to other countries later on — seen as a stepping stone to full fledged FTA
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.
German Chancellor Angela Merkel’s Africa Commissioner, Günter Nooke issued harsh criticism of the EU’s joint free trade deal with multiple African countries, claiming the EPA counteracts Europe’s development policy efforts.
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 issues that had remained in contention until last week are critical for Kenya and EAC’s future development, but we capitulated.
Negotiators from the EU and the East African Community finalised today a new comprehensive Economic Partnership Agreement between both regions.