Parliament approves African tripartite free-trade zone

CAIRO – 4 May 2017: A tripartite free-trade zone between the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC) has been approved by the Egyptian parliament.

The free trade-zone was signed in June 2015 by President Abdel Fatah al-Sisi in Sharm el-Sheikh during an economic summit of the three African blocs, collectively representing 25 states.

Parliamentarian Esmat Zayed said inter-trade between African countries does not exceed 14 percent and that the free-trade zone would boost it. Zayed’s sentiment is shared by fellow MP Ehab Ghatati, who said the continent is a potent market for Egyptian goods.