Africa Trade AgreementsAfrica Trade Agreements

Africa Trade Agreements

African Free Trade Zone Agreement (AFTZ)


Countries Involved:Africa Economic Institute Egypt, Africa Economic Institute Libya, Africa Economic Institute Sudan, Africa Economic Institute Angola, Africa Economic Institute Botswana, Africa Economic Institute Burundi, Africa Economic Institute Comoros, Africa Economic Institute Djibouti, Africa Economic Institute Dominican Republic, Africa Economic Institute Eritrea, Africa Economic Institute Ethiopia, Africa Economic Institute Kenya, Africa Economic Institute Lesotho, Africa Economic Institute Madagascar, Africa Economic Institute Malawi, Africa Economic Institute Mauritius, Africa Economic Institute Mozambique, Africa Economic Institute Namibia, Africa Economic Institute Rwanda, Africa Economic Institute Seychelles, Africa Economic Institute Swaziland, Africa Economic Institute South Africa, Africa Economic Institute Tanzania, United Republic Of, Africa Economic Institute Uganda, Africa Economic Institute Zambia, Africa Economic Institute Zimbabwe,
Area of Cooperation:goods, energy, infrastructure
Signed at: 2008
Summary:


The leaders of three African trading blocs signed an agreement to create a free trade zone of 26 countries with a GDP of an estimated $624bn (£382.9bn).

It is hoped the deal will ease access to markets within the region and end problems arising from the fact several countries belong to multiple groups.

The deal also aims to strengthen the bloc's bargaining power when negotiating international deals.

Analysts say the agreement will help intra-regional trade and boost growth.

The three blocs which struck the deal were the Southern African Development Community (SADC), the East African Community (EAC) and the Common Market for Eastern and Southern Africa (Comesa).

The agreement will also lend its backing to joint infrastructure and energy projects in the zone.



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