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Africa’s free trade area launch set for June

Published on April 28, 2015

Finally Africa’s free trade area comprising of 26 countries with a combined population of over half a billion and a combined US$1.1tri gross domestic product (GDP) will be launched in Egypt next June.

The Tripartite FTA will account for half of the membership of African Union, that contributes just over 58 per cent total GDP and 57 per cent of the total population on the continent.

Acting Director of Trade, Investment and Productive Sector at East African Cooperation Ministry, Mr Bernard Haule, said the African grand FTA launching will usher in trade in goods at zero tariff among the members who belong to Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern Africa Development Community (SADC).

“Leaders from the tripartite blocs who will include President Jakaya Kikwete as current EAC Chairman, will launch it in Egypt at a summit to be held next June,” Mr Haule said saying negotiations on the subject among the three regional blocs are almost concluded.

Read more. Source | Tanzania Daily News