Southern African countries launch free trade zone

JOHANNESBURG (AFP) — Southern African countries launched a regional trade zone at a summit on Sunday that aims to eliminate import tariffs, with plans for a common currency by 2018.

Eleven of the 14 countries that are part of the Southern African Development Community (SADC) will participate in the free trade area, including Zimbabwe, which has the world's highest inflation rate officially put at 2.2 million percent.

South Africa, the continent's economic powerhouse, is also among the countries that are part of the free trade zone.More