Africa seeks 26 country Free Trade Area
November 7, 2008 by SwizStick
Filed under QuickNews, Supply Chain Management
If they are successful – and they do it right – this will be a huge boon for Africa’s economy as a whole:
26 African countries have signed an agreement in Uganda that aims to create Africa’s largest free trade area within the next six months.
The plan aims to merge the Common Market for Eastern and Southern Africa (Comesa), the East African Community (EAC) and the Southern African Development Community (Sadc) into one regional economic market.
Local reports said the merger would create a free trade area comprising over 527 million people and a combined GDP of $624 billion.
Leaders said they asked a tripartite task force to work on a ‘roadmap’ to implement the merger within six months.
That’s an ambitious time frame and I wish them success. This is a grand and historic undertaking.
Hat tip to World Trade Magazine.
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