Only eight African countries have ratified the Tripartite Free Trade Area (TFTA) agreement which was launched in 2015.
The TFTA encompasses three regional blocks; the Southern African Development Community (Sadc), the East African Community (EAC) and the Common Market for Eastern and Southern Africa (Comesa).
Commenting, Comesa Secretary General, Sindiso Ngwenya, said 18 countries have so far signed the agreement out of the 26 countries and only eight have ratified the agreement.
“Negotiations are going on and we hope by the end of this year all countries might have completed their negotiations and ratified the agreement,” Ngwenya said.
He said even though Malawi is yet to ratify, negotiations are progressing well.
“The TFTA is one of the best trade opportunities as trade will increase three to five times and more jobs will be created within the African bloc,” he said.
Minister of Industry and Trade, Joseph Mwanamvekha, confirmed that the government is still negotiating in some key areas.
When fully implemented, the TFTA will create a large market with 626 million customers.
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