Africa-Press – Angola. Angola will join the Free Trade Area (FTA) of the Southern African Development Community (SADC) as of June, the minister of Industry and Trade, Rui Miguêns de Oliveira, announced on Tuesday in Luanda.
The minister said the country’s integration will be approved at the SADC Conference of Trade Ministers, followed by its ratification by the Summit of Heads of State of this regional continent, which will take place shortly.
According to the minister, Angola’s entry into the FTA represents a significant step forward in regional economic integration, enabling the elimination or reduction of trade barriers between the country and other SADC members promoting cross-border trade and investment in infrastructure.
Angola’s membership will allow the country to access a wider market, with the reduction or elimination of customs tariffs, facilitating trade and attracting investment.
The process of consolidating the SADC-FTA will initially include countries that are not yet full members, such as Angola, which will enable it to benefit from simplified rules of origin and other trade advantages.
As one of SADC’s largest markets, Angola has great potential to strengthen intra-regional trade and boost its economy.
The SADC Free Trade Area has been in force since 2008, with 13 of the organization’s 16 members already actively participating in trade transactions.
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