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VICTORIA FALLS, Zimbabwe, Aug. 16 (Xinhua) -- 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 michael kors naomi satchel navy , a year before schedule, officials with Southern African Development Community (SADC), one of the three participating regional blocs, have revealed.
The Tripartitie Free Trade Agreeement (Tripartitie FTA), being negotiated among SADC michael kors weston medium satchel black , Common Market for Eastern and Southern Africa (COMESA), and East African Community (EAC), is expected to benefit 600 million people in 26 African countries, or half of the African Union (AU) members, with a combined domestic product of about 1 trillion U.S. dollars.
Once in effect michael kors selma large satchel brown , the tripartite FTA will create Africa's largest integrated market so far.
SADC Director of Trade, Industry, Finance and Investment, Boitumelo Gofhamodimo said on eve of the SADC Heads of States and Governments Summit to be held this weekend at the Zimbabwean resort town of Victoria Falls that southern Africa is ready for the establishment of the Tripartite FTA.
"We expect to conclude the negotiations by end of the year," Gofhamodimo said. "It is one arrangement which is very important in boosting trade and deepening integration."
Gofhmodimo said apart from offering a bigger market michael kors jet set travel large satchel black , the FTA allows countries in eastern and southern Africa to harmonize their trade policies.
SADC Executive Secretary Stergomena Lawrence Tax said if everything goes well, the FTA can be launched in 2015.
According to a roadmap adopted by COMESA-EAC-SADC in 2011, the FTA was initially expected to come into force by 2016. Negotiation for the second of the three phrases is about to start and will focus on issues like trade in services and trade-related issues such as intellectual property rights, competition policy and trade development and competitiveness.
Parties are wrapping up the first phrase talks which touch "core FTA issues" such as tariff liberalization, rules of origin michael kors bedford large satchel black , customs procedures and simplification of customs documentation, transit procedures, non-tariff barriers, trade remedies and other technical barriers to trade and dispute resolution, according to the Southern African Research and Documentation Centre (SARDC) michael kors miranda satchel medium blue , a regional research body.
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