Description
In 2000 the South African Development Community (SADC) deepened in its integration. Member states signed several new protocols, and the creation of the Free Trade Area (FTA) signall the first steps in the region's integration agenda. The FTA may boost improved regional economic growth by harmonising market access, and that economic growth may hasten SADC integration.
At the same time the African Development Bank released its annual report, claiming that intra-regional trade has stagnated or declined as a result of divergent economies of scale, lack of skilled labour, inappropriate or non-existent infrastructure, the overall cost of raising capital, and the contagion effects of civil wars. More ...