Each of the applicants had submitted its tariff schedule. The economic bloc covers a combined area of over 2.332 million square miles and has a total population of over 98.517 million people. The seven countries were selected from 36 countries that had expressed interest in trading under the pilot phase. Recently, three regional blocs in Africa, namely COMESA (common market for Eastern and Southern Africa), SADC (Southern African Development community) and EAC (. Burundi, Kenya, Rwanda, the United Republic of Tanzania, and Uganda agreed today to make trade between them and with other countries cheaper, faster and simpler. Another pillar of the African Economic Union is the Arab Maghreb Union, a trade bloc that covers northwestern Africa, commonly known as Africa’s Maghreb region. Rwanda was recently picked among countries set to start trading under the AfCFTA framework in a pilot phase that also involves six other countries. The blocs' meeting is to develop a joint position paper on matters detailing the private sector involvement in the implementation of the AfCFTA, develop joint capacity building initiatives for the RECs Business Council members to enhance participation in the AfCFTA initiatives, as well as development of an Action Plan for collaboration between the Councils. Recently, while presiding over the swearing-in of new cabinet ministers, President Paul Kagame encouraged the business community to tap into the enormous opportunities that Rwanda is bound to derive from the continental platform. He added, the meeting will also deliberate on the Regional Economic Communities (RECs) engagement framework with the African Business Council and active involvement in its operations and effective inclusion in its structures. "As a follow up to the recommendations and action plan from the Accra meeting, the East African Business Council will meet in Kigali along with SADC and COMESA to jointly position themselves in the efforts towards preparing the private sector to benefit from the AfCFTA" Kalisa said. The two-day meeting, according to the CEO of East African Business Council (EABC) John Bosco Kalisa, will bring together traders from the East African Community, the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Cooperation (SADC).
AFRICA TRADING BLOCS FREE
Business executives from different African trading blocs are set to meet in Kigali next week, to draw strategies through which they can tap into opportunities offered under the African Continental Free Trade Area (AfCFTA)
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