TFTA Instrument of Ratification Deposited

Department of Trade and Industry

The Instrument of Ratification of the Agreement establishing the Tripartite Free Trade Area (TFTA) has been deposited.

In a statement, the trade and industry department announced that the Instrument of Ratification was deposited on the margins of the African Union Ministers of Trade Meeting taking place in Cairo, Egypt.

The TFTA consists of three regional economic blocks – the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community.

According to the department, the “deposit of the instrument means that South Africa has formally and legally committed to the TFTA”.

Parliament ratified the Agreement in October 2018.

Trade and industry minister, Rob Davies, pointed out that numerous benefits would accrue to South Africa as a result of the Agreement such as access to new and dynamic markets with a combined GDP of $1.2-trillion and a combined population of 626 million.

Sabinet Cape Town Office