SADC Free Trade Corridor
The Southern African Development Community summit concluded with the signing of the long-anticipated Trade Facilitation Protocol, which eliminates tariffs on over 3,000 product lines among member states.
The agreement is expected to reduce transport costs by up to 35% and cut border clearance times from an average of 72 hours to under 6 hours through the adoption of harmonised customs systems.
Namibia and Tanzania are set to construct two new dry ports to support anticipated volume increases, with funding pledged by the African Development Bank.
This article was reported by the AfriDevMonitor editorial team. Additional reporting contributed by our correspondents in Addis Ababa, Nairobi, Lagos, Johannesburg, and Cairo.
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