Bridges Weekly Trade News Digest • Volume 8 • Number 4 • 4th February 2004
Central Africa To Establish Free Trade Zone
At a recent summit in the Republic of Congo, the 11 heads of state of the Economic Community of Central African States (CEEAC) pledged to establish a free trade zone by the end of 2007. The effort is designed to bring stability to the economy of a region that has seen civil wars in 7 of its 11 member countries in recent years. The summit’s concluding statement expressed hope that the agreement would bring investment to the area, saying, "Economic operators in CEEAC member states and foreign investors would have a dynamic and attractive regional market of 100 million consumers, which would promote the immense potential of the region."
A number of additional measures were discussed at the two-day Brazzaville meeting. Leaders pledged to establish a network of roads and an interlocked power grid, as well as provide freedom of movement to government officials, students, religious leaders and business people within the community. In addition, the organisation plans to develop a common agricultural policy by 2008. CEEAC was dormant for much of the 1990s due to financial difficulties and conflict in the region, but has seen a resurgence of activity in recent years. Chairman Denis Sassou Nguesso remarked at the close of the summit, "CEEAC is now in the process of reaching its cruising speed. We need to keep up this rhythm so our area stops being the weak link of regional integration." Nguesso also said leaders are hoping to meet with the World Bank in the near future to discuss options for the region’s economic recovery.
The importance of good governance and democracy were stressed within the context of the New Partnership for Africa’s Development (NEPAD), an Africa-wide programme focusing on sustainable development and economic recovery. Summit leaders also gave the AIDS crisis "high priority" status, with the closing statement saying CEEAC would be "at the forefront of the fight against HIV/Aids through mobilisation and prevention campaigns."
"Central African Leaders to Establish Free Trade Zone," VOA NEWS, 28 January 2004; "Trade Talks the Focus of Brazzaville Summit," IOL ONLINE, 27 January 2004.