Member States of the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern African Development Community (SADC) are early next year set to validate and adopt a simplified trade agreement to address challenges faced by women, youth and cross-border traders in moving goods across the three Regional Economic Communities (RECs).
A meeting held by the Tripartite Simplified Trade Regime (TSTR) Framework last week in Johannesburg, South Africa, resolved to address the challenges facing affected groups saying that promotes inclusive economic growth. The new trade framework is also designed to simplify customs procedures and reduce costs for small-scale traders.
The three RECs are set to adopt the TSTR framework as part of efforts towards the regional integration agenda and inclusive economic development through the removal of trade barriers.
Coordinator of the TSTR project Mr Rangarirai Machemedze, hailed the outcomes of the consultative meetings, noting that the meetings brought to light key issues faced by cross-border traders that need to be taken on board in the TSTR framework.
“We look forward to the validation of the framework so that it becomes a living document that can be used in the tripartite area,” Mr Machemedze.
The tripartite member states agreed with many of the suggestions put forward by informal cross border traders, particularly women and youth, an indication of the need to take on board the issues to address the challenges faced by traders and to promote inclusive economic growth, added Mr Machemedze.
Last year, 14 member states ratified the COMESA-EAC-SADC trade agreement, a milestone hailed for enhancing market access and significantly boost intra-regional trade across the 29 member states, which represent over 60 percent of the continent’s gross domestic product (GDP).
Ms Flavia Busingye, the chairperson of the tripartite task force, praised the participants for making contributions to strengthen the TSTR Framework and ensure that it addresses the needs of the cross-border traders.
“The needs such as reducing gender-based violence, facilitating easy movement of goods, reducing barriers to trade and enhancing inclusive economic growth across the COMESA-EAC-SADC Tripartite area are set to strengthen the TSTR Framework,” Ms Busingye said.
She also urged member states to sustain the momentum generated during the discussions in preparation for the validation of the framework.