Angola is set to become the 14th member of the Southern African Development Community (SADC) to join the regional market, representing a significant milestone in strengthening the SADC Free Trade Area.
The SADC confirmed that Angola secured a unanimous agreement to join its regional market during a trade negotiating forum in Luanda last week.
In a statement, the SADC said the milestone was a victory for Angola, as well as a significant achievement for the region. It added that Angola’s accession to the regional market reinforced its commitment to deepening economic integration, fostering intra-regional trade, and enhancing economic resilience.
“With Angola’s inclusion, the SADC Free Trade Area takes a bold step forward, unlocking new avenues for industrial development, investment, and cross-border trade. This achievement underscores the region’s collective vision for a more interconnected, economically vibrant Southern Africa,” the statement read in part.
As a member of the regional market, Angola will benefit from reduced tariffs and the elimination of non-tariff barriers, while other SADC Member States will get improved market access for their goods and services in Angola. This will promote smoother trade within the region, push economic growth, and enhance regional prosperity.
The SADC will hold additional meetings in May and June to ensure the full ratification and implementation of the agreement.
