Luanda – The Angolan presidency of the Southern African Development Community (SADC), which begins Thursday, could contribute to an acceleration of the country's integration process in the region's Free Trade Zone.
The completion of the regional integration process in the SADC Free Trade Area depends on Angola and the Democratic Republic of Congo (DRC), two countries in the bloc that have not yet joined the circuit.
Initially, the process had its completion scheduled for 2008, eventually being extended to 2016, but even so, in 2023, the two countries did not integrate it, with expectations of its conclusion still this year.
For economic and financial consultant Augusto Fernandes, Angola, when assuming the presidency of SADC, should give priority to creating conditions for the region's trade zone to be robust and capable of producing what it needs.
He recalled that, with this, an increase in the Gross Domestic Product (GDP) of the region is expected, currently in the order of USD 720 billion.
With the second highest GDP in the region, the entry of Angola could increase the levels of trade, influencing the promotion of production, according to the specialist speaking to ANGOP, on the sidelines of the 43rd Summit of Heads of State and Government of SADC.
“If Angola enters the Free Trade Zone, it increases the levels of trade within the region and this will bring greater dynamism to trade and the likelihood of boosting production”, he argued.
Augusto Fernandes suggested that it is essential that Angola first enter and convince the neighboring country (DRC) to also take part.
He recalled that the SADC Free Trade Zone is not isolated, since it is close to others, forming a tripartite free trade region, which represents 60% of the continent's GDP, with 50% of the total population in the African continent.
“It is an area that will have a strong influence on the African continental free trade zone”, he observes.
Free Trade Zone and its requirements
Entry into the SADC Free Trade Area requires a set of requirements that need to be met in order to implement the organization's economic agenda.
One of the requirements demanded from the members is the liberalization of the customs tariff.
Currently, according to the specialist, a study is under way for the disarmament of 85% of the 5,600 tariff lines of the Angolan customs tariff.
However, Angola has already liberalized 65%, as is the study of the deliberation of the 20% required by the Committee of Ministers of the SADC Free Trade Zone.
He pointed out that, by liberalizing 85% of the products on the customs tariff, 15% of products remain protected.
With this, it is expected that, in the coming days, the economic agenda will be in tune and Angola will become part of this regional market.
In a first phase, the country (Angola) stops buying from the rest of the world and starts buying within the African continent.
“This happens after the negotiation process that starts this October”, he advanced.
He explained that, if Angola succeeds in the negotiation package, in October it could enter the SADC Free Trade Area.
He also added that, in the ordinary session held in May, Angola failed to present some of the conditions demanded by the Committee of Ministers of the SADC Free Trade Area.
“It is expected that the requirements will be completed in October this year and can be part of this family that is the SADC Free Trade Area”, said the expert.
The 5600 lines of the customs tariff were divided into four blocks, with categories A, B, C and D, the latter includes the 15% of exclusion products, where Angola must protect its products.
The release of 85% will only be in the SADC region, but with the rest of the world, trade will continue to streamline the customs tariff as it was conceived.
NE/SC/DOJ
