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COMESA is one of the pillars of the African Economic Community. In 2008, COMESA agreed to an expanded free-trade zone including members of two other African trade blocs, the East African Community (EAC) and the Southern Africa Development Community (SADC). COMESA is also considering a common visa scheme to boost tourism. [5]
[1] Article 88 of the Abuja Treaty states that the foundation of the African Economic Community is the progressive integration of the activities of the RECs, with the establishment of full continental economic integration as the final objective towards which the activities of existing and future RECs must be geared.
Added new members Tunisia and Somalia: 16:23, 10 May 2017: 1,000 × 1,000 (188 KB) Ydecreux: Reverted to version as of 02:08, 24 July 2011 (UTC): not a member, only admitted to COMESA RCTG: 23:53, 16 January 2017: 1,000 × 1,000 (188 KB) Nobelium: Reverted and recoloured South Sudan via the CSS-part of the file in the very same green as the ...
A free trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other.
The 29 tripartite member/partner countries represent 53% of the African Union's membership, more than 60% of continental GDP ($1.88 trillion), and a combined population of 800 million. [ 2 ] Negotiations between the three trade blocs first began in June 2011. [ 1 ]
On Wednesday 22 October 2008, SADC joined with the Common Market for Eastern and Southern Africa and the East African Community to form the African Free Trade Zone, including all members of each of the organizations. The leaders of the three trading blocs agreed to create a single free trade zone, the African Free Trade Zone, consisting of 26 ...
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A free trade area is basically a preferential trade area with increased depth and scope of tariffs reduction. All free trade areas, customs unions, common markets, economic unions, customs and monetary unions and economic and monetary unions are considered advanced forms of a PTA, but these are not listed below.