Africa is set to create largest free-trade zone. African heads of state and government will project the continent’s largest free trade area in Egypt. The Tripartite Free Trade Area (TFTA) – will then be officially unveiled at the upcoming summit.
The Tripartite Free Trade Area, will be the largest economic bloc on the continent and will form the basis for the formation of the Africa-wide Continental Free Trade Area (CFTA) in 2017. The deal, to be signed in Egypt.The trade zone will cover 26 countries and including more than 600 million people.
“The Ministers and their representatives from the 26 countries in the three economic communities also finalized the programme that will guide the Tripartite Heads of State and Government in launching the grand Free Trade Area on Wednesday.”
The minister said: “By creating the TFTA we aim at enlarging the markets for the benefits of economies of scale, to use efficiently the natural resources, to profit from complementarities and strengthen our bargaining powers.”