Published on United Nations Economic Commission for Africa (http://www.uneca.org)
Home > Africa’s latest free trade agreement is a good step for continent’s integration
Geneva, 29 June 2015 (ECA) –The signature of the Tripartite Free Trade Area agreement (TFTA) is a historical step which augurs well for the pursuit of continental integration in Africa, said Mr. David Luke, the Coordinator of ECA’s African Trade Policy Centre at a roundtable discussion at the International Centre for Trade and Sustainable Development (ICTSD).
The ICTSD organized a session focusing specifically on the TFTA and a second on the second one on the way forward towards “Achieving continental integration”. The free trade agreement, signed in Sharm-el-Sheikh, Egypt on 10 June 2015, brings together member states of the
Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC).
During the discussions, titled “African Tripartite Free Trade Area (TFTA): a key milestone for continental integration?” Mr. Luke acknowledged that negotiations on tariff liberalisation, rules of origin and trade remedies are yet to be completed.
He noted that the scoping for the second phase of negotiations, which should address liberalization in services, movement of people, investment, as well as competition policy and intellectual property rights, is yet to be undertaken.
Yet he contended, “in spite of outstanding issues, the TFTA agreement is a milestone in the rationalisation of Africa’s multiple trade integration arrangements”, thereby it paves the way for the establishment of the Continental Free Trade Area (CFTA).
Mr. Luke argued, the TFTA agreement now constitutes an important part of the lawsof trade integration in Africa, meaning that the CFTA negotiation process will build on the successes of the TFTA.
During the roundtable, a few participants expressed some scepticism about the uneven progress of trade liberalisation in the various Regional Economic Communities. Mr. Luke asserted, however, that the establishment of the TFTA, along with the entry into force of the common external tariff in the Economic Community of West African States (ECOWAS), already provides a good starting point for CFTA negotiations.
The 26 countries covered by the TFTA already represent over half of continental GDP, while ECOWAS accounts for another 20 percent. Mr. Luke also emphasized that the successful conclusion of the TFTA negotiation is a concrete proof that the political momentum for Africa’s integration is building up on the continent, and this is a promising development for the CFTA negotiation process.
Africa’s latest free trade agreement is a good step for continent’s integration http://www.uneca.org/print/8055
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Africa’s latest free trade agreement is a good step for continent’s integration http://www.uneca.org/print/8055
2 of 2 20/07/2015 14:41
