Private sector in Southern Africa tackles Tripartite Free Trade Area

ECA Press Release No. 162/2011

Lusaka, 20 December (ECA) - Private Sector representatives met in Johannesburg from 15-16 December at a forum to discuss experiences of doing business in the Tripartite Free Trade Area (T-FTA).

The Private Sector Forum was organized by the United Nations Economic Commission for Africa to seek 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. The forum further sought to identify issues and challenges that needed attention when developing the T-FTA structure, informed by solid economic realities and supportive of private sector priorities.

Officially launching the forum, ECA Southern Africa, Officer in Charge Mr Sizo Mhlanga commended the steady progress made by the three regional economic communities; COMESA, EAC and SADC “in their effort and commitment to make the T-FTA a reality and one that will make business sense to the private sector”.

Mr Mhlanga said that “The private sector is a key partner in making the Tripartite Free Trade Area a success and whose involvement in the entire process critical and essential”. He added that the forum provided a platform for the private sector to influence the development and implementation of a T-FTA which was conducive for doing business.

These views were echoed by Julie Nixon from Gone Rural, Swaziland, stating that “the entire process is about trade and governments do not trade, therefore there must be more private sector involvement” She further recommended for a one stop shop in each country to enable easy access of information on the T-FTA.

Meanwhile a representative from Norwich Insurance Brokers, Zambia, Lydiah Sibanda said most of the private sector institutions in the region were not aware of the T-FTA initiative. She urged national chambers of commerce to actively engage the private sector on the tripartite free trade area and its benefits.

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 approximately USD$833 Billion equating to 58% of the continents GDP and 57% of its population.         

The forum was held in partnership with COMESA and was attended by private sector representatives from over six countries.

Issued by:

ECA Information and Communication Service
P.O. Box 3001
Addis Ababa
Ethiopia

Tel: 251 11 5445098
Fax: +251-11-551 03 65
E-mail: ecainfo@uneca.org
Web: www.uneca.org  

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