Intra-regional trade in Africa could be boosted by US$8.5 billion when the Tripartite Free Trade Area (TFTA) is established by 26 countries early next year, according to a new report by United Nations Economic Commission for Africa (UNECA).
Andrew Mold and Rodgers Mukwaya – UNECA economists and authors of the report titled ‘The Effects of the Tripartite Free Trade Area: Towards a New Economic Geography in Southern, Eastern and Northern Africa?’ – suggest that economic sectors most likely to benefit are the industrial sectors, such as processed foods, light manufacturing and heavy manufacturing.
With a total population of 638 million people and a total gross domestic product (GDP) of US$1.2 trillion, the TFTA will create Africa’s largest free trade area.
The TFTA agreement comprises the East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa), and the Southern African Development Community (SADC).
