MADAGASCAR: Economic boost expected from SADC membership

JOHANNESBURG, 18 Aug 2005 (IRIN) - Madagascar's entry into the Southern African Development Community (SADC) is expected to boost regional economic integration and give the Indian Ocean island a financial leg up.

Outgoing SADC executive secretary Prega Ramsamy announced on Tuesday that, having satisfied the criteria for joining, the country had become the newest member of the regional bloc.

"Madagascar is coming with a huge market potential; the advantages are enormous," Ramsamy told reporters at this week's SADC meeting in Gaborone, the capital of Botswana.

Malagasy officials were upbeat about the prospect of further economic ties with southern African countries, pointing to numerous benefits the country had already gained from bilateral trade agreements.

"It is about time that Madagascar formalises its relations with region as a whole - we have been dealing with many countries individually, but this new arrangement will see us working as team. We foresee many agreements, especially in the agriculture and mining sectors," Madagascar's Consul General in South Africa, Bary Rafatrolaza, told IRIN.

He added that the island - the third largest in the world, with a population of around 17 million - would provide huge market potential.

"In Madagascar, we are always looking for new products and ideas, and increased trade with our neighbours will obviously help us," said Rafatrolaza.

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