Malawi has ratified the Tripartite Free Trade Agreement, bringing the total number of states that have done so to 12. Just two are now required to reach the requisite threshold of 14 to enable the agreement to enter into force.
The Tripartite FTA is an inter-regional cooperation and integration arrangement amongst countries of the Common Market for Eastern and Southern Africa (Comesa), the East African Community (EAC) and the Southern African Development Community (SADC).
To date, 22 member states have signed the Agreement, and 12 have ratified it. These are Egypt, Uganda, Kenya, Rwanda, Burundi, Eswatini, Botswana, Namibia, South Africa, Zambia, Zimbabwe and Malawi.
It was launched in June 2015 in Egypt to enhance integration among the Tripartite member/partner states for their mutual benefit and to pursue the development of common programmes which will enable all parties to utilise the available resources effectively.
In addition, it is intended to harmonise trade and investment regimes and in particular to establish a Free Trade Area amongst Comesa, EAC and SADC and enhance economic cooperation.
It is also intended to harmonise infrastructure programmes focusing on developing joint inter-regional infrastructure, and cooperation on transport and communications and financing of regional infrastructure projects.
The implementation of the TFTA will facilitate the movement of businesspersons in the Tripartite region and enable the development of joint programmes that enhance cooperation and strengthen coordination in industrial and competition policies, financial and payment systems, development of capital markets and commodity exchanges.
These objectives are anchored on three pillars namely, market integration, industrial development and infrastructure development.
The pace of ratification of the TFTA has however been slow and the latest move by Malawi is expected to inspire the remaining states to do the same.
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