非洲26国共建三方自由贸易区

While Africa's new Tripartite Free Trade Agreement may seem promising for the continent as a whole, there are concerns it will be more beneficial for the larger and more developed economies, such as South Africa. But experts believe that this is not something to be worried about and that the deal will assist the smaller countries, too, helping them develop their industries.

Less stringent border controls for business, reduced tariffs and greater trade between 26 African countries is the vision for the new FTA. It will be the biggest trading bloc on the continent, with a market value of US$1.2 trillion.

"It makes a bloc that is 26 countries large and that is going to facilitate businesses who want to send their goods to the rest of Africa. So if you want to trade with any of the other countries in this bloc, it's going to be easier. You're going to face less tariff barriers and, hopefully, be able to send it faster and more efficiently," said Christopher Wood, researcher, South African Institute of International Affairs.

The Southern African Development Community is the biggest of the three zones, by size and economically. Fifteen countries make up the SADC region. South Africa alone accounts for 68 percent of trade in the region. It also benefits from the bulk of continental and international trade.

"The biggest opportunity for South Africa is in the East Africa, because there's quite a lot of barriers to entering that market. We actually trade more than anyone would expect with our immediate neighbors—Botswana Lesotho Swaziland, Namibia—all those countries we trade with extensively. But when it comes to the likes of Kenya, Tanzania, Uganda, levels are much lower," Wood said.

There are concerns that the free trade area will be more beneficial to bigger and more developed economies. But the tripartite agreement aims to address this by assisting smaller countries build new and existing industries that are not purely resources driven.

"It's really about creating a free trade agreement that doesn't just promote trade, but that promotes diversification and development in smaller states. Because if they have the capacity to benefit from entering the South African market, from selling to our consumers, then they will have a reason to stay in this trade agreement. And to work hard to make sure it's successful," Wood said.

Some are of the view that South Africa, in particular, will be the biggest beneficiary. But experts say a country like South Africa, and its strong fundamentals, can be used as a valuable case study.

"The bedrock of any stable system is values and democracy. In the case of Africa it is an important one because the AU has committed to these values as important, as important safeguards for business stability, so I don't see a situation, not withstanding the critique, that are advanced in the direction of South Africa. I don't see South Africa playing less of role on the continent," said Tjiurimo Hengari, South African Institute of International Affairs.

The new agreement will reduce the cost of exchanged trade and improve intra-African investment, it will also form the basis for a continental FTA to be implemented in 2017. Most analysts believe the move is long overdue, as trade between African countries is currently at a mere 12 percent.