Comesa Trade Agreement

At the end of 2016, the implementation of the TFTA was preceded by unresolved issues, including customs offers, rules of origin, trade agents and dispute resolution. The U.S. government says the recent drop in copper prices serves as a timely warning to Zambia to diversify its economy. U.S. Ambassador to Zambia Eric Shultz said a serious effort was needed to reallocate the economy to agriculture, tourism and electricity generation. When he spoke at the eighth U.S.-U.S. Advisory Trade Meeting, Ambassador Shultz also called for the… Comesa has a free trade area with 19 member states and launched a customs union in 2009. A customs union that could be defined as a merger of two or more customs territories into a single customs territory, in which tariffs and other trade measures will be largely removed from all trade between the merged territories. For their part, the territories apply the same obligations and measures in their dealings with third parties. To prepare a customs union, Egypt adopted, at the eleventh session of the Council of Ministers in Cairo, a roadmap out of programmes and activities that were needed before the Union was set up. The launch is expected to be achieved by 2008.

In October 2008, the East African Community and the Southern African Development Community agreed to negotiate a tripartite free trade agreement between regional economic communities. After lengthy negotiations, the tripartite free trade agreement was officially launched in June 2015. Although 17 of the 26 Member States have signed the tripartite free trade agreement, it has not yet entered into force due to pending ratifications. In addition, the remaining technical work on customs liberalization, rules of origin and remedial measures is also delaying the process. However, interim agreements have been reached for the implementation of the tripartite free trade agreement, which would make it Africa`s largest free trade agreement. It was also estimated that the tripartite free trade agreement could boost intra-regional trade by up to one-third. [2] It is therefore important that the remaining Member States join the Free Trade Agreement and do not jeopardise the implementation of the tripartite free trade agreement. In 2008, comesA approved an expanded free trade area comprising members of two other African trading blocs, the East African Community (EAC) and the Southern Africa Development Community (SADC). Comesa is also considering setting up a common visa regime to promote tourism. [2] The Common Market for Eastern and Southern Africa (COMESA) is a 21-member free trade area stretching from Tunisia to Eswatini. Comesa was founded in December 1994 and replaced a preferential trading area that had existed since 1981. Nine member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), Rwanda and Burundi joining the free trade agreement in 2004, Comoros and Libya in 2006, Seychelles in 2009 and Tunisia and Somalia in 2018[2] UN Economic Commission for Africa.

The tripartite agreement could intra-regional trade by one-third (2016) (called July 1, 2016). IiA Mapping Project The IIA Mapping Project is a cooperative initiative between UNCTAD and universities around the world to represent the content of II A.