By Rudo Saungweme

The Tripartite Free Trade Area (TFTA) agreement which is set to be finalised before year end, is set to stimulate economic activities in the region, thereby improving the lives of ordinary people across the country through free movement of goods, services and business persons.

A Senior Government Official, Takesure Nhume made the revelation to Harare Post today and said that the plans to establish a TFTA agreement are underway and proving to be fruitful.

Nhume stated that the TFTA agreement needs to be endorsed by 14 countries for it to officially gain strength. He said that so far 14 countries had subscribed to the agreement.

“The Tripartite Free Trade Area (TFTA) agreement procedures are flowing smoothly. The agreement consists of 26 Member States from three regional economic blocs, which are, Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and the Southern African Development Committee (SADC).

“There are also 14 member States which have guaranteed to approve to the agreement, which include South Africa, Botswana, Zambia, Malawi, Rwanda and Zimbabwe,” said the official.

Nhume revealed that the high number of member States interested in the TFTA agreement shows that the agreement will gain momentum before the end of this year, ahead of its official launch at the forthcoming TFTA Summit slated for the first quarter of 2020 in Rwanda.

The TFTA will solve the problem of multiple memberships, rationalize trade negotiations, reduce cost of doing business, support industrialization, and stimulate cross-border infrastructure projects since it provides a single economic space with harmonized trade policies and a regulatory framework.

Once the TFTA agreement is launched, it would go a long way in enhancing President Mnangagwa’s vision of having a middle class economy by 2030.