Africa-Press – Angola. Angola will finally join the Southern African Development Community (SADC) Free Trade Area (FTA) from June this year, the Minister of Industry and Commerce, Rui Miguêns de Oliveira, confirmed in Luanda.
The minister made this announcement during the 19th edition of Café CIPRA, with the theme “Angola at the center of African diplomacy”, stating that 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 region of the continent, which will take place shortly.
Angola’s entry into the FTA represents a significant step in regional economic integration, allowing for the elimination or reduction of trade barriers between the country and other SADC members, in addition to promoting cross-border trade and investment in infrastructure. In other words, membership will allow the country to access a wider market, with the reduction or elimination of customs tariffs, facilitating trade and attracting investment.
The SADC-FTA consolidation process initially envisages including countries that are not yet full members, such as Angola. This will allow the country to benefit from simplified rules of origin and other trade advantages.
Angola, being one of the largest markets in SADC, 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 organisation’s 16 members already actively participating in trade transactions.
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