A proposed 26-nation African Tripartite Free Trade Area (FTA) has the potential to draw more investment to South Africa as a stepping stone for the rest of the continent, website Mg.co.za reported.

South African Trade and Industry General Director Lionel October, told a media briefing in Capetown the proposed move could create good low-duty opportunities for business in Egypt and Kenya, the story reported.

"From the private sector side, two of the big markets in this FTA (are) Egypt and Kenya and if they can then get duty-free access into those markets in north and central Africa then South Africa becomes a production base," October was quoted as saying.

He said the creation of the free trade zone by 2013 would boost South Africa's presence in the BRICS economies.

The proposed zone would join the existing Southern African Development Community (SADC), the Common Market for Eastern and Southern Africa (Comesa), and the East African Community (EAC), with a combined population of 580 million people.

Photo: Political Forum

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