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EAC, SADC agree to liberalise trade

EAC, SADC agree to liberalise trade
By Joan Chirwa
Wednesday May 30, 2007 [04:00]

CHIEF executives of COMESA, East African Community (EAC) and SADC have agreed to liberalise trade across the sub-region and eventually arrive at a broad Free Trade Area (FTA). The three regional economic communities (RECs) agreed during a meeting to advance the process of harmonisation of regional integration, that the liberalisation of trade in the FTA should encompass all the member states of the three groupings.

They also agreed on developing and implementing common customs documents including a common certificate of origin, promoting mutual recognition of standards across the three regional organisations and promoting the free movement of persons.

Other areas that were looked at include the promotion of customs best practices, developing common safeguards and trade remedies, common sanitary and phytosanitary (SPS) measures, co-operation in competition policy, in monetary and fiscal affairs and in capital market developments.

The CEOs also reviewed progress in the implementation of infrastructure projects, including air, marine, road and rail transport, focusing on facilitation of trade and transit transport along the major corridors of the sub-region.

“The CEOs also reviewed progress in the implementation of regional ICT broadband initiatives such as COMTel, EASSy, SRII meant to improve regional inter-connectivity as well as development of energy resources with emphasis on co-operation between the East and Southern African Power Pools focusing on increased energy generation and construction of inter-connectors,” stated the press release issued at the end of the meeting held in Zanzibar, Tanzania on Monday.

Labels: COMESA, EAC, SADC, TRADE

posted by MrK @ 3:40 AM