The East African Community (EAC), and the Southern African Development Community (Sadc) Tripartite Free Trade Area (TFTA) agreement will officially enter into force on July 25th, 2024.
With 14 out of 29 member states ratifying the pact, the TFTA creates a single market encompassing East, Central, and Southern Africa.
This was announced during the 37th Tripartite Task Force Meeting held on the margins of the AU Mid-Year Meeting.
This free trade zone aims to boost intra-African trade by eliminating tariffs and trade barriers.
“Malawi, Lesotho, and Angola are the latest member states to ratify the agreement, making it 14 countries. It takes effect on July 25, 2024,” Christopher Onyango, Director of Trade and Customs at the Comesa Secretariat in Lusaka, Zambia, said.
Countries that have ratified the TFTA include Botswana, Burundi, Egypt, Eswatini, Kenya, Namibia, Rwanda, Uganda, South Africa, and Zambia.
In EAC, Kenya, Rwanda, and Uganda have ratified the tripartite, while for the Democratic Republic of the Congo and Tanzania, ratification is pending.
🆕COMESA-EAC-SADC Tripartite Free Trade Area (TFTA) Agreement to Enter into Force on 25 July, 2024, following depositing instruments of ratification by 14 out of the 29 Partner States making up the Tripartite, thus meeting the threshold required for the TFTA to enter into force. pic.twitter.com/MousNkMunf
— East African Community (@jumuiya) July 20, 2024
However, challenges include establishing a dedicated secretariat and overcoming financial constraints for full implementation.
The COMESA-EAC-Sadc TFTA, signed in 2015, comprises 29 countries, representing a significant portion of the African Union (AU) and the continent’s economic strength.
