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UN body to host private sector trade forum

  1. Posted on Monday 14 November 2011 - 11:04
    Sanday
    Image of Sanday
    Sanday Chongo Kabange in Hong Kong

    The United Nations Economic Commission for Africa (ECA) is to host a private sector forum on the tripartite Free Trade Area from 15-16 December 2011 at South Africa’s Emperors Palace.

    The two-day forum on the harmonization of the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern African Development Community (SADC) free trade areas will bring together trade experts, the private sector, key players in the Tripartite Integration process and representatives from regional organisations.

    The forum themed ‘Making the Tripartite Free Trade Area work for Business’ will focus on the private sector’s perspective on the role of the Tripartite integration process in overcoming obstacles to intra-regional trade in Southern and Eastern Africa.

    In 2008, the Heads of State of COMESA, EAC and SADC countries agreed to expeditiously establish a Tripartite Free Trade Area (T-FTA).

    Once established, the T-FTA will constitute an integrated market of 26 countries with a combined population of nearly 600 million people and a total gross domestic product of up to US$1 trillion.

    So far, the eastern and southern African regional integration experience has traditionally been politically-driven and as policymakers work to intensify the role of trade as a catalyst for development in eastern and southern Africa, regional economic communities continue to strive for a more active participation by the private sector.

    The forum will provide the private sector an opportunity to identify some of the issues and challenges that will need to be addressed by negotiators in developing a T-FTA architecture that is built on solid economic realities and supports private sector priorities.

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