Namibia is the latest to ratify the TFTA agreement. Seven countries are expected to complete the ratification process before the end of this year paving the way for its implementation.
Namibia is committed to implementing the European Union’s Economic Partnership Agreement, and to launch the plan this year, National Assembly speaker revealed.
The SACUM-UK EPA effectively retains the terms of trade present in the existing SADC-EU EPA.
Namibia has become the eighth country to ratify the Tripartite Free Trade Area. Six more countries are required for the agreement to enter into force.
Cabinet in Zimbabwe has approved the ratification of the COMESA-EAC-SADC Tripartite Free Trade Area (TFTA).
EAC’s increased exports to SADC excluding Tanzania was as a result of the increased benefits arising from the membership to the EAC-COMESA-SADC Tripartite.
The TFTA will also be a building bloc for the African Continental Free Trade Area, COMESA official said.
Members of the Lower House approved the agreement establishing a Tripartite Free Trade Area among the Common Market for Eastern and Southern Africa, the East African Community, and the Southern African Development Community.
The African Continental Free Trade Area (ACFTA) will be launched on 7 July 2019 in Niamey, Niger, by the Heads of State and Government at an extraordinary summit of the African Union.
The deadline set by the Tripartite Council of Ministers for member States of three regional economic blocs to sign and ratify the tripartite free trade area lapses this month.
Substantial progress has made to conclude a Roll-Over Economic Partnership Agreement between SACU, Mozambique and the UK.
The SA government has been working in the background to ensure that trade arrangements with the UK and EU are uninterrupted while the UK exits from the EU.
To avoid trade disruption, SACU+Mozambique and UK have decided to roll-over the EPA into a standalone trade agreement with the UK.
The deposit of the instrument means that South Africa has formally and legally committed to the TFTA.
Namibia’s Presidential Advisor for Private Sector said that Namibia is at an advanced stage of finalising the Economic Partnership Agreement (EPA) implementation plan and has begun implementing the plan’s crucial aspects.
South Africa has ratified the Tripartite Free Trade Agreement, becoming the fourth country to do so after Egypt, Uganda and Kenya. 10 more ratifications are now needed for the Agreement to enter into force.
The slow pace at which member states of the Tripartite Free Trade Area Agreement (TFTA) are committing to the bloc, has derailed the enforcement of the treaty and trade in one of Africa’s largest economic zones.
The Southern African Customs Union, Mozambique and the European Union have started talks to conclude a new economic partnership agreement with post-Brexit Britain.
The TFTA seeks to establish an enlarged market involving 27 member countries from the Common Market for Eastern and Southern Africa, the East African Community and Southern African Development Community.
The Economic Partnership Agreement (EPA) between the European Union and the Southern Africa Development Community (SADC) became the first regional EPA in Africa to be fully operational after its implementation by Mozambique.