ZNFU

The International Food Prices have dropped by a modest 1.3% in May, 2011. This is according to the Food and Agricultural Organisation (FAO) Food Price Index which averaged 232 points in May from 235 points in April. However, the May 2011 index exceeds the May 2010 figure by 37 percent. FAO has attributed the May 2011 slight drop to the declines in the International prices of cereals and sugar which more than offset the increase in the meat and dairy prices.

The Ministry of Commerce, Trade and Industry called a meeting this week and shared information on the work that had been done so far in preparation for an upcoming summit of Heads of States on the Tripartite Free Trade Area (TFTA), expected to be held in July 2011 during which the negotiations will be expected to be officially launched. Through the TFTA, a single free trade area will be created encompassing Comesa –East Africa Community - SADC member states.  During the meeting, draft documents were provided covering the following;