Plans to establish Free Trade Area between COMESA, EAC, and SADC gain momentum

The establishment of the East Africa Community(EAC) Common Market Protocol, is a significant achievement for the scholars, organizations, and government officials backing regional integration as a gateway to sustainable economic development in Sub Saharan Africa. Concrete plans to establish a Free Trade Area(FTA) have materialized and have gained strong support, according to a recent interview with EAC officials.

The Free Trade Area will serve as a platform for increased trade activity and multilateral cooperation between the Common Market for East and Southern Africa(COMESA), East African Community(EAC), and South Africa Development Community(SADC). The tripartite economic bloc would boost regional trade, and allow countries from Egypt to South Africa to benefit from a larger market, and reduced trade barriers. Once in action, the FTA would encourage collaboration on infrastructure building projects, and create enormous opportunities for investments in relevant sectors.

While plans for the FTA took shape in 2008, much remains to be done to solidify the agreement and attain conformity between the partners on the rules and regulations that will govern the project. When launched, the FTA will be the largest of the continent, and include up to 26 countries.

Picture from REUTERS