Africa-Press – Angola. The Council of Ministers assessed, this Thursday, the draft resolution that approves, for ratification by the Republic of Angola, the Agreement that creates the COMESA-EAC-SADC Tripartite Free Trade Area.
The document examined at the 1st Extraordinary Session, chaired by the President of the Republic, João Lourenço, will be submitted to the National Assembly.
This agreement aims to establish a legal framework for trade in goods and services between the Member States of the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC). ), in accordance with the laws and regulations in force in each of them.
It also aims at promoting the economic and social development of the region, creating a vast common market with free movement of goods and services, as well as promoting intra-regional trade.
Among the objectives of the Agreement are also the strengthening of regional and continental integration processes, as well as the construction of a strong Tripartite Free Trade Area for the benefit of the peoples of the region.
The agreement also provides for the progressive elimination of tariffs and non-tariff barriers to trade in goods, the liberalization of trade in services, cooperation in customs matters and the implementation of measures to facilitate trade.
The tripartite COMESA-EAC-SADC mechanism was established on the occasion of its first Summit of Heads of State and Government held in Kampala, Uganda on 22 October 2008.
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