The Department of International Relations and Cooperation (DIRCO) said the summit's objectives were to formally launch the Tripartite Free Trade Area (T-FTA) negotiations between the 26 member countries of the three Regional Economic Communities (RECs).
These included the Common Market for East and Southern Africa (COMESA), East African Community (EAC) and the Southern African Development Community (SADC).
"The T-FTA provides for the creation of a larger, integrated market with a combined Gross Domestic Product of about $625 billion and a combined population of approximately 700 million," read a DIRCO statement.
The first Tripartite Summit that was in 2008 in Kampala, Uganda, agreed on a programme of "harmonization" of trading arrangements amongst the three RECs (COMESA-EAC-SADC), free movement of business persons, joint implementation of inter-regional infrastructure programmes as well as institutional arrangements on the basis of which the three RECs would foster cooperation.
The summit also aimed at building on the improved economic development prospects and potential in Africa; promote social and economic development; reduce poverty and inequality; deepen integration to compete more effectively in the global economy.
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