News last update:6 Aug 2012

Namibian feed producers benefit from FTA

Cattle feed producers in Namibia are about to benefit from the freshly signed Southern African Development Community Free Trade Area (SADC FTA) agreement.

The FTA would open up new suppliers of crops such as maize and beans from other African countries other than sourcing these in South Africa at higher prices, as is the current practice, say international trade experts. The signing of the FTA agreement means that producers and consumers no longer pay import tariffs on about 85 percent of all trade in community goods within the initial 12 countries.

The FTA was launched under the theme 'Free Trade Area for Growth, Development and Wealth Creation,' at the SADC summit in Johannesburg, lurching forward SADC's ambitious plan of regional integration. SADC wants to have a single customs union by 2010, a common market in 2015 and a single monetary union by 2018.

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