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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]
The SADC's goal is to further regional socio-economic cooperation and integration as well as political and security cooperation among 16 countries in southern Africa. [4] Although its primary objectives are development, economic growth, and poverty alleviation, peacekeeping has become increasingly important to the SADC. [5]: 70
The AFTZ (EAC, COMESA and SADC) currently have a combined population of 527 million and combined GDP of US$625 billion. In size and capacity, the AFTZ rivals most trade blocks. The SADC is the largest of the AFTZ member trade blocks and covers a population of some 248 million people and a zone whose cumulative GDP is $379bn in 2006.
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 ] The TFTA is intended to enhance the framework of the African Continental Free Trade Area (AfCFTA) which has the vision of bringing all 54 member states of ...
The African Free Trade Zone (AFTZ) was announced on Wednesday October 22, 2008 by the heads of Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the East African Community (EAC). In May 2012 the idea was extended to also include ECOWAS, ECCAS and AMU. [11]
Trade with COMESA accounted for 11.5% of total EAC Trade while trade with SADC accounted for 12.9. [129] On 2 December 2024, Germany and the EAC signed a development cooperation agreement committing 64€ million from Germany to be invested in the EAC. Out of that, 23€ million goes towards pandemic preparedness and combatting disease and 5 ...
The Regional Economic Communities (RECs) in Africa group together individual countries in subregions for the purposes of achieving greater economic integration. They are described as the "building blocks" of the African Union and are also central to the strategy for implementing the African Development Development Agency (AUDA-NEPAD).
African Free Trade Zone (AFTZ) between SADC, EAC and COMESA; Arab Maghreb Union (UMA) Association of Caribbean States (ACS) Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Canada, Australia, New Zealand and United Kingdom Union (CANZUK) China–Japan–South Korea Free Trade Agreement