The Tripartite Free Trade Area (TFTA) pact is coming into force after 13 years of talks.

It complements the AfCFTA, which aims to eliminate tariffs on 90 percent of goods in a market of over 1.3 billion people.

Clear sanctions for non-implementation are also central to the success of the TFTA.

An intra-regional trade agreement bringing together 26 countries in Africa has come into force after 13 years of negotiations.

The Tripartite Free Trade Area (TFTA), a pact bringing together partner states of the Common Market for Eastern and Southern Africa (Comesa), the East African Community (EAC) and the Southern African Development Community (SADC) took off on Thursday after Angola joined.

This brings the total number of Instruments of Ratification deposited to 14, meeting the number required for the Agreement to enter into force out of the 29 member States.

Based on three main pillars of market integration including trade liberalisation, infrastructure development and industrial development seeks to improve trade within the continent which is currently at a paltry 20 percent.

It will fast-track a free trade area and arrangements for the movement of business persons; focus on enhancing connectivity and reducing business costs; and create a supportive environment by improving regulatory and legal frameworks.

It intends to add value, diversify industries, increase productivity and competitiveness, and implement programmes for structural change.

Statistics show that Tripartite countries import more than 99 percent of similar products exported by the EAC, indicating that the EAC has a considerable market opportunity to grow its exports under the TFTA preferential tariff regime, for products such as vegetables, meat, bovine, pasta, among others.

The trade deal is set to eliminate tariffs on 100 percent of goods, stimulating economic growth, industrialisation, and sustainable development.

It complements the AfCFTA, which aims to eliminate tariffs on 90 percent of goods in a market of over 1.3 billion people.

In a press statement, the East Africa Business Council (EABC) applauded the commencement of TFTA, with the acting executive director Adrian Njau saying “Our dream is to see businesses start trading under the TFTA preferential tariff”.

He explained that in 2022, EAC exports to SADC amounted to $3.79 billion, while imports totaled $3.9 billion.

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