The Tripartitie Free Trade Agreeement (Tripartitie FTA), being negotiated among SADC, Common Market for Eastern and Southern Africa (COMESA) Adidas Ultra Boost Uncaged Scontate , and East African Community (EAC), is expected to benefit 600 million people in 26 African countries, or half of the
African Union (AU) members, with a combined domestic product of about 1 trillion
U.S. dollars.
Once in effect, the tripartite FTA will create Africa's largest integrated market so far.
SADC Director of Trade, Industry, Finance and Investment, Boitumelo Gofhamodimo said on eve of the SADC Heads of States and Governments Summit to be
held this weekend at the Zimbabwean resort town of Victoria Falls that southern
Africa is ready for the establishment of the Tripartite FTA.
"We expect to conclude the negotiations by end of the year Adidas Ultra Boost 2.0 Scontate ," Gofhamodimo said. "It is one arrangement which is very important in boosting trade and deepening integration."
Gofhmodimo said apart from offering a bigger market, the FTA allows countries in eastern and southern Africa to harmonize their trade policies.
SADC Executive Secretary Stergomena Lawrence Tax said if everything goes well, the FTA can be launched in 2015.
According to a roadmap adopted by COMESA-EAC-SADC in 2011, the FTA was initially expected to come into force by 2016. Negotiation for the second of the
three phrases is about to start and will focus on issues like trade in services
and trade-related issues such as intellectual property rights, competition
policy and trade development and competitiveness.
Parties are wrapping up the first phrase talks which touch "core FTA issues" such as tariff liberalization, rules of origin, customs procedures and
simplification of customs documentation, transit procedures Adidas Ultra Boost 3.0 Scontate , non-tariff barriers, trade remedies and other technical barriers to trade and dispute resolution, according to the Southern
African Research and Documentation Centre (SARDC), a regional research body.
Kizito Sikuka, a researcher of the SARDC, said the ultimate launch of the enlarged FTA will result in the three sub-regions coalescing into a single FTA
with the goal of establishing a single Customs Union in the near future.
"Intra-regional trade in this part of Africa is expected to increase sharply and deepen regional integration through improved investment flows and enhanced
competition," he said, adding that removal of trade barriers such as huge export
and import fees would enable countries to increase their earnings Adidas Ultra Boost 4.0 Donne Scontate , penetrate new markets and contribute towards their national development.
The SADC, meanwhile, is consolidating its own FTA which covers all but three SADC member states -- Angola, Democratic Republic of Congo and Seychelles.
The SADC FTA was launched in 2008, but maximum liberalization among participating member states was eventually realized in 2012 when tariffs on
sensitive products were removed.
Gofhamodimo revealed that Seychelles was now ready to join the SADC FTA after its offer to remove all tariffs on goods to promote the smooth movement of goods
and services across the region.
"Although not so big, regional trade (among the 12 SADC FTA members) has increased from 13.8 billion U.S. dollars in 2000 to 58 billion U.S. dollars in
2012," Gofhamodimo said.
In the SADC region, South Africa is the largest trading partner Adidas Ultra Boost 4.0 Uomo Scontate , with its exports to the region accounting for 40 percent of total intra-regional trade. Other major exporting
countries include Angola, Zambia and Zimbabwe.
Tax said she hoped the tripartite FTA would address the issue of overlapping membership of countries in the COMESA, EAC and SADC.
Zambia, Zimbabwe, Malawi, Mauritius, for example, belong to both COMESA and SADC www.ultraboostuomo.it , while Kenya, Uganda, Rwanda, and Burundi belong to both EAC and COMESA.
The SADC had missed its target to launch a customs union in 2010, and is likely to miss other integrated market targets like a common market by 2015, a
monetary union by 2016 and a single currency by 2018.
"Why have we failed to reach other stages of integration? It is the issue of multiple members. It becomes a challenge (for a country) to be in more than one
customs union," Tax said. "By expediting the tripartite arrangement, this can
also be a stepping stone towards addressing the issue of multiple membership."
KATHMANDU Adidas Ultra Boost Italia Scontate , Aug. 26 (Xinhua) -- China and Nepal on Tuesday jointly launched here the U.S. dollar-denominated International UnionPay pre-paid card,
which can be accepted in over 140 countries.
Himalayan Bank Limited (HBL), a leading private commercial bank established in 1993 in Nepal, said it is the first time for the country to introduce such a
pre-paid card for Nepalese citizens for international payments.
The bank has clinched strategic partner with UnionPay International (UPI), a subsidiary of China's national bankcard association UnionPay, which enjoys
partnerships with over 300 organizations globally and has enabled card
acceptance in over 140 countries with its card issued in more than 30 countries.
David Lee, chief cooperation officer of UnionPay International and Ashoke JB Rana, chief executive officer (CEO) of HBL Scarpe Adidas Ultra Boost Scontate , jointly launched the product with the presence of Chinese Ambassador to Nepal, Wu Chuntai, and some high-level government
officials of Nepal.
According to the HBL officials, the HBL-UnionPay International pre-paid card is most useful for Nepalese who travel to China for purposes including business,
education, sight-seeing and medical, among others. They said any merchant in
China who is equipped with
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