Leaders of Botswana, Zimbabwe and Swaziland signed in
Johannesburg a protocol on economic integration in southern Africa
on Monday.
The protocol was signed by Botswana's President Festus Mogae,
Zimbabwean President Robert Mugabe and Swaziland's Prime Minister
Absalom Themba Dlamini. It brings the number of countries who inked
the Protocol on Finance and Investment from seven to ten.
The majority of the Southern African Development Community
(SADC) members signed the protocol at an extraordinary summit in
Midrand, between Johannesburg and Pretoria, in August.
Lesotho's Prime Minister and current SADC chairman Pakalitha
Mosisili said, "It would appear that the region is on course to the
establishment of a Free Trade Area by 2008."
"The talks today focused on ensuring that we are all winners and
that there would be no losers in integration, that the small
economies will be also catered for and will benefit fully," said
Mosisili.
The SADC considers it as a cornerstone in improving economic
environment as well as the attractiveness of the region as an
investment area.
The protocol would complement the move toward a Free Trade Area
which would be the first step towards one monetary union, similar
to the European Union, in southern Africa.
The Free Trade Area would be followed by the establishment a
Customs Union by 2010, a Common Market by 2015 and Economic and
Monetary Union by 2018.
(Xinhua News Agency October 24, 2006)
