NEW PUSH FOR TRIPARTITE FREE TRADE AREA TAKE OFF

BY GRACE MACHA IN ARUSHA

Renewed efforts are underway to accelerate the take off of the African Tripartite Free Trade Area (TFTA).

The newly formed African Tripartite Business Council will spearhead the process.

This was announced last weekend in Kigali, Rwanda after the launching of an umbrella business body for the three economic blocs in the continent.

These are the East African Community (EAC),the  Southern African Development Community (Sadc) and the Common Market for Eastern and Southern Africa (Comesa).

Although initiated a couple of years ago, the Tripartite Free Trade Area for the three bloc is yet to come into force.

It needs a threshold of ratifications by at least 14 of the  40 members of the regional economic communities (RECs).

While the EAC has seven member states, Sadc and Comesa have 14 and 19 member countries respectively.

However, there are overlaps with many countries having membership to two or three blocs.

John Bosco Kalisa, the executive director of the East African Business Council (EABC) called for accelerated ratification of the Tripartite Free Trade Area pact.

The ratification by a minimum threshold of 14 countries, he explained, would enable the trade agreement to come into force.

The newly formed business body would also spearhead the inclusion of private sector proposals into the negotiations of the African Continental Free Trade Area (AfCFTA).

 

“The African Tripartite Business Council will put forward joint private sector policy positions to the AfCFTA Secretariat in Ghana and Tripartite Ministerial Council Meetings in order to accelerate the implementation of the Agreements,”, he pointed out.

Mr. Dickson Poloji, CEO of Comesa business council said, “It is important for the private sector to be knowledgeable of the trade instruments of Rules of Origin, Standards and Dispute Settlement Mechanism under the AfCFTA.

 

He elaborated that the implementation committees of the AfCFTA should be co-chaired by the private sector.

 

On his part, Mr. Peter Varndell-CEO, SADC Business Council said “The African Tripartite Business Council will improve coordination and development of positions on AfTCFA policy formulation and negotiations.

 

 

Mr. Dennis Karera, EABC Vice Chairman noted, “Trading under AfCFTA is the answer for Africa to respond better to external shocks of conflict, Covid-19 and climate change.”

 

Ms. Nadia Uwamahoro, Managing Director, Data Systems urged for the finalization of the AfCFTA protocol on digital trade to promote youths and the emergence of African-owned e-commerce platforms.

 

Mr. Antoine Muzaneza, EABC Vice Chair urged for capacity building for the private sector on the benefits of AfCFTA and strategies to boost agriculture and industrial value addition.

He expounded on the importance of access to affordable credit and private sector involvement in the development of the national strategies on AfCFTA.

 

He said the EAC region, in particular, has been severely impacted by the Russia Ukraine war as food imports from the latter have been disrupted.

 

At least 50 percent of wheat imports into the region are from Russia and Ukraine. The EAC has also been hurt by higher global energy prices due to the war which started in February.