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.
The 2012 SADC model BIT proposes new thinking and a sharp deviation from today’s policies, tralac says.
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.
ECDPM has released a ‘Frequently asked questions’ guide to the economic partnership agreements (EPAs) between the EU and Africa.
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.
Countries in the Southern African Development Community (Sadc) have signed the Economic Partnership Agreement (EPA) with the European Union.
Aafter 10 years of negotiations, a regional Southern African Development Community (Sadc) group, of which South Africa is a part, has "initialled" an Economic Partnership Agreement with the European Union, the Department of Trade and Industry said on Thursday.
African high-level officials indicated recently that negotiations for the establishment of a free-trade area spanning three major regional economic communities in Africa have progressed well and could conclude by the end of this year.
Southern African trade ministers will lobby for an extension of a trade agreement with Europe before it expires in October, a senior Botswana official said.
African countries need to look at the possibility of fast-tracking the tripartite Free Trade Area if hopes of an improved intra-African trade are to be met anytime soon, according to the African Union Commission
Twenty-six eastern and southern African nations are making progress toward agreeing on a free trade area that will create a market with nearly 600 million people and combined gross domestic product of $1 trillion, South African President Jacob Zuma said.
Late last year, the African cyberspace was buzzing with rumours that the region’s oldest trade agreement, the Southern African Customs Union or SACU was about to be finally killed off by South Africa. From Windhoek to Cape Town to Mbabane, trade policy wonks were debating what the most recent moves from Pretoria regarding SACU really meant.
Three regional economic communities in Africa — COMESA, EAC and SADC — are expected to sign an agreement this year to establish an enlarged market covering 26 countries in eastern and southern Africa.