LUSAKA, April 4 (Xinhua) -- An African trading bloc on Thursday urged member states of three regional economic blocs to sign and ratify the free trade area agreement as the deadline nears.
Three regional blocs namely the Common Market for Eastern and Southern Africa (COMESA), East Africa Community and the Southern African Development Community signed the tripartite agreement in June, 2015 in Egypt, comprising 26 countries.
In a statement released after a meeting of the COMESA Intergovernmental Committee in Lusaka, the Zambian capital, the regional bloc urged member states to sign and ratify the agreement which lapses this month.
The statement said so far only four countries in the three regional blocs ratified the agreement.
The deadline of April 2019 was set in June last year during a ministerial meeting in South Africa, the statement added.
Christopher Yaluma, Zambia's Minister of Commerce, Trade and Industry said it was time for the remaining countries to sign the tripartite given that it was supposed to be the building block to the Africa Free Trade Area Agreement.
"I can not overemphasize the absolute importance of all of us ratifying the tripartite agreement so that it enters into force immediately. After years of negotiation, the tripartite free trade area is ready for implementation," he said.
The Zambian minister said 93 percent of the work of rules of origin has been completed, providing the basis for trade to begin while legal texts have been concluded and adopted.
