Preferential Trade Area definition
Examples of Preferential Trade Area in a sentence
One of the six objectives of COMESA as enshrined in the COMESA Treaty is to contribute towards the establishment of the African Economic Treaty.2COMESA was initially established in 1981 as the Preferential Trade Area (here- after, PTA) for Eastern and Southern Africa, within the framework of the Organisation of African Unity’s Lagos Plan of Action and the Final Act of Lagos.
The Eastern and Southern African Trade and Development Bank (TDB) was established on 6 November 1985 following the provisions of the Treaty of 1981 establishing the Preferential Trade Area (PTA), which has since been transformed into the Common Market for Eastern and Southern African States (COMESA), as part of the regional economic integration arrangement.
For instance, in the tourism sector, most of the countries have put not limitations to market access under consumption abroad.61 The SADC region has been trading a Preferential Trade Area (PTA) since its inception in 1980.
Any proceedings by or against the Preferential Trade Area pending on the appointed day, shall be continued by or against the Common Market.
COMESA: created in 1994 (Preferential Trade Area, 1981)Member states: Comoros, DRC, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe25Art.
The Preferential Trade Area for Eastern and Southern African States (PTA) was formed in 1981 and superseded by the Common Mar- ket for Eastern and Southern Africa (COMESA) in 1993.
It was established in 1994 to replace the Preferential Trade Area for Eastern and Southern Africa (PTA) which was in force until 1981.
Under the terms of the South Asian Preferential Trade Area (SAPTA) Agreement (signed on 11 April 1993 and implemented from 7 December 1995), Maldives enjoys preferential access to six regional markets on selected products.15 In return, Maldives provides similar access to regional producers to its market.
The COMESA developed from the “Lusaka Declaration of Intent and Commitment to the Establishment of a Preferential Trade Area for Eastern and Southern Africa” (PTA) which came into force in 1982.
On the appointed day there shall be transferred to and vested in the Common Market by virtue of this Article and without further assurance, all the assets and liabilities of the Preferential Trade Area and from that day, the Common Market shall, in respect of the assets and liabilities so transferred and vested, have all the rights, and be subject to all the liabilities, which the Preferential Trade Area had, or is subject to, immediately before that day.