By: Economic & Finance Report
The TFTA pact allows member African countries to trade goods amongst themselves. 26 African nations signed the trade agreeement in Cairo, Egypt. Three different trade organizations collectively bonded together to make the TFTA happen. The organizations that participated in consolidating to make,the Tripartite Free Trade Area (TFTA), are the Southern African Development Community (SADC); the East African Community (EAC) and the Common Market for Eastern and Southern Africa (COMESA).
The countries agreed to minimize and even get rid of their respective trade zones, to allow trading and commerce be established set up easily then the past. Analysts who have followed the development of the TFTA and commerce within Africa, indicate this a monumental step within Africa, since the countries represented make up about 1 trillion dollars of GDP in African. -SB