Africa targets free trade area by 2017
13:52, 31 January 2012
ADDIS ABABA. January 31. KAZINFORM Africa will target the establishment of a continental free trade area by 2017, said a document issued here at the closing of the 18th summit of the African Union (AU) on Tuesday; Kazinform refers to Xinhua.
"The Continental Free Trade Area (CFTA) should be operationalized by the indicative date of 2017," said the document.
The AU has made a three-step plan in preparation for the ultimate CFTA target.
The first step is to finalize the tripartite agreement among East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA), and the Southern African Development Community (SADC) by 2014.
The second is to urge other trade blocs to follow the experience of the tripartite agreement and reach parallel agreement between 2012 and 2014.
The third is to consolidate the tripartite and other regional free trade areas into CFTA initiative between 2015 and 2016; Kazinform cites Xinhua.
To learn more go to www.xinhuanet.com/english2010