Plans to create Africa’s largest trading bloc made progress with the signing in Uganda of an agreement defining the roadmap for the project.

Chief executives of the Southern African Development Community (Sadc), the Common Market for Eastern and Southern Africa (Comesa) and the East African Community (EAC) are expected to set the plan in motion with the signing of a comprehensive agreement within six months.

The roadmap drafted by negotiators at a tripartite summit in Kampala provides for harmonisation of trade and investment regulations in the three trading blocs as well as free movement of persons.

It also provides for consultation and exchange of information and expertise among the three economic communities and mobilisation of financial resources that are needed to implement activities of common interest.

Signing of the agreement would mean creation of a free trade area with a combined population of over 527 million people and a combined GDP of $624 billion.