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· The process of integration among the three regional blocs in Africa is progressing with the launch of the African Continental Free Trade Area
· Consultations are taking place among council of ministers of the economic blocs viz Southern African Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC)
· The trilateral agreement signed in 2015 involves 26 countries covering 625 million people
The process of integration among the three regional blocs in Africa is progressing with the launch of the African Continental Free Trade Area (AfCTA). Consultations are taking place among the council of ministers of the economic blocs viz Southern African Development Community (SADC), Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC). They have debated the draft guidelines of the three-part mechanism on safe movement of men and materials in the region, among several other strategies discussed in the trilateral meeting. Post pandemic development works also prominently figured in the consultations.
The trilateral agreement signed in 2015 involves 26 countries covering 625 million people. It extends from the northern part of the region to the southern side. It aims at creation of a customs union that integrates the member states — from Egypt to South Africa. Intra- regional trade is insignificant and is stifled by many factors including poor infrastructure. Also, businessmen in the continent have to develop a mindset for using the products, semi-finished goods and raw materials from the countries in the region rather than importing from sources beyond the continent.
The trilateral digital meeting, which took place last Monday, also flagged the legal regulations that will be in force at the time of the implementation of the Tripartite Free Trade Area. It has exhorted the countries that have not yet ratified the agreement to do so by July of this year. It is expected that the consultation process will be intensified in the coming months since there seems to be a sense of urgency among the stake holding countries to speed up the process of integration.
