S. African cabinet approves continental free trade agreement – Xinhua

CAPE TOWN, May 10 (Xinhua) — The South African cabinet has approved the Tripartite Free Trade Area (TFTA) agreement that establishes the common market for Eastern and Southern Africa, East African Community and Southern African Development Community, a cabinet spokesperson said on Thursday.

Now the agreement is going to Parliament for ratification, Phumla Williams said after a cabinet meeting in Cape Town.

The TFTA is a key Africa-led project that marks a decisive step to overcome the continent’s colonial heritage of small fragmented markets, Williams said.

This will be achieved by promoting intra-African investments and attracting more foreign investment into the free trade area, she said.

As a result of regional integration efforts and stable economies, there has been strong growth in…

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