- Southern African Development Community (SADC) is planning to launch a SADC Free Trade Area soon, as it prepares for establishment of a regional customs union.
According to body's 6th meeting of ministerial task force on regional economic integration held in Zambian capital Lusaka, on Monday, it was noted that based on implementation of agreed tariff phase down commitments, SADC attained free trade area as of January this year.
A statement released by SADC secretariat in Botswana capital Gaborone today notes that Malawi, which is behind in implementing its tariff reductions, will, with improvements in its economy, consider further tariff reductions in terms of its FTA commitments during 2008/09 national budget.
"Task force noted that Malawi would implement its 2008 tariff commitments before end of year depending on outcome of review of poverty reduction and growth facility (PRGF), that it is implementing," the statement says.
It further states that Angola, which is in process of preparing its tariff offer, confirmed its position communicated to ICM meeting in June, that its offer is technically ready and will be considered by cabinet before presentation to SADC by August.
The Task Force noted that the FTA would be launched under theme: "SADC FTA for Growth, Development and Wealth Creation".
The organ has also noted progress made and agreed that there was sufficient basis to launch FTA in August, as scheduled.
On SADC customs union, the statement recalled that during the November 2007 meeting, the regional body had approved establishment of technical working groups (TWGs), in order to facilitate development of frameworks in among others; common external tariff, legal and institutional arrangements, revenue collection, sharing and distribution mechanism (including a development Fund), and policy harmonisation (covering industrial, agricultural, infrastructure, competition and other sectoral policies).
"Task force considered and approved draft terms of reference for TWGs and noted that Mauritius, Namibia and South Africa will submit written comments by the end of the month for circulation and consideration at next meeting of ministerial task force," the statement says.
It adds that task force also noted that draft road map for SADC customs union will be updated in line with approved terms of reference of TWGs.
It further states that task force noted need for appointment or establishment of a dedicated focal point within TIFI Directorate at SADC Secretariat, to coordinate customs union programme and to ensure coherence between activities of TWGs and other SADC structures that already have mandates on aspects related to customs union.
It concludes that task force also noted that Secretariat is working towards setting up proposed focal point.
Zambian minister of finance Peter Ngandu Magande chaired meeting attended by all SADC member states.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.
front page
| news
| countries
| archive
| currencies
| news alerts login
| about afrol News
| contact
| advertise
| español