CAIRO: Egypt in December is set to host a summit to discuss the establishment of a free trade zone comprising three commercial entities: the Common Market for Eastern and Southern Africa (COMESA), the Southern African Development Community (SADC) and the East African Community (EAC), Mubasher reported Wednesday.
Previous summits on the topic were held in Uganda in 2008 and South Africa in 2011. Egypt is currently only a member of COMESA.
“The new integration will open new horizons for investment, provide cheap raw materials and widen economic and mutual relations between the African countries,” said Saed Abdul Allah, head of the commercial agreement department at the Trade Ministry in comments to Youm7 Wednesday.
In related news, Egypt and Sudan agreed Sunday to establish a number of agricultural free trade zones and to the opening of a new international road between both countries, Mubasher reported.