In a statement issued after Cabinet held its ordinary meeting on Wednesday, government spokesperson, Themba Maseko said the launch of the FTA would lay a firm foundation for regional economic integration.
It is expected that the FTA will create a larger market, releasing potential for trade as well as create employment in the region.
Eleven countries in the 14-nation SADC signed the document which will see all tariffs and non-tariff barriers on trade fall away.
Angola, the Democratic Republic of Congo (DRC) and Malawi did not sign as they are still addressing challenges in the implementation of the Protocol on Trade.
The FTA agreement is the largest free trade zone agreement in a region which is home to about 250 million people.
The idea to drop trade tariffs between the countries first came about in 1996, when leaders signed the SADC Protocol on Trade. The Protocol aimed to further liberalise inter-regional trade, ensure efficient production among member states while improving the climate for domestic and cross border and foreign investments.
Maseko said Cabinet had also welcomed the signing of the Protocol on Gender and Development by member states, especially as South Africa was celebrating August as Women's Month.
"This Protocol calls for far reaching changes in the SADC countries including the repeal of all discriminatory laws; the inclusion of gender equality and equity in national constitutions and the adoption of the goal of 50% representation of women in political and decision-making structures in SADC countries by 2015," said Maseko.
He said the implementation of the Protocol will be monitored by the executive secretary of the SADC, who will table progress reports to the Summit of Heads of State and Government every two years.
"The next step is for all SADC countries to develop national plans of action to implement the Protocol."
Cabinet noted that an Extraordinary Summit of the Organ of Heads of State and Government was convened on the sidelines of the summit to discuss developments in Zimbabwe.
"The extraordinary summit resolved to call upon all the parties in Zimbabwe to form an inclusive government and urged them to also commit to the dialogue aimed at implementing the SADC and African Union resolutions," said Maseko.
He said President Thabo Mbeki was commended by this summit for his role as facilitator.
"He was called upon to continue with the mediation efforts."
The meeting noted that the facilitation process was continuing as per the SADC mandate.
Article published courtesy of BuaNews.
