31 May 2015

Minister of Trade and Industry, Mr Vincent Seretse, is back from a two-day joint meeting of the Tripartite Sectoral Ministerial Committee on Legal Affairs, Trade, Finance, Customs, Economic Matters and Home/Internal Affairs held in Tanzania from May 29-30.

A press release from the ministry stated that the meeting was expected to review the final Tripartite Free Trade Area (TFTA) Agreement and related documents between the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community which will be considered by the 3rd Tripartite Summit at the launch of the TFTA on June in Sharm El Sheik, Egypt.

The release also stated that the conclusion and subsequent implementation of the TFTA is expected to sharply increase intra-regional trade within the tripartite region and deepen regional integration through improved investment flows and enhanced competition.

However, it says Botswana would not benefit from trade in goods but also from trade in services which would be negotiated during Phase II of the TFTA negotiations, the beginning of which would be launched at the Egypt summit. Ends