US Signs Trade Pacts to Bolster Economic Ties with Africa Countries

The United States Trade Representative Ms. Susan Schwab on Wednesday signed in Washington a Trade and Investment Framework Agreement (TIFA) with the East African Community, which includes Burundi, Kenya, Rwanda, Tanzania and Uganda.

Mr. Peter Kiguta, the EAC’s director general for customs and trade signed the agreement on behalf of the economic organization.

The US also signed another agreement with five Southern African countries.

In 2003, the US initiated discussions on a free trade agreement with the Southern Africa Customs Union (SACU) which includes Botswana, Lesotho, Namibia, South Africa and Swaziland.

The talks were suspended in 2006 due to the participant’s inability to reach an agreement to bridge their positions on trade barriers reduction and other provisions of the proposed agreement.

The parties however later agreed to pursue a new type of pact that resulted in the Trade, Investment and Development Cooperation Agreement signed Wednesday.

Source African Press Agency

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