Chairperson, let me just start off by saying that I agree with the hon Van der Merwe about the importance of this initiative. This initiative will, in effect, be broadening integration across established regional economic communities. It is something that we believe is in line with the necessities of industrial development across the continent. We need to create big regional markets that can sustain and support industrial development.
This initiative embraces a combined population of between 600 million and 700 million people in 26 countries, with a combined GDP of US$1 trillion. That is a substantial move forward.
The process that will begin in 2013 is not the start of the negotiation process, but the start of the exchange of offers around tariff concessions and the receipt of counteroffers from other countries. That is a fairly advanced stage of the negotiating process.
The timeframe that was given by the heads of state in 2011 was three years, but it was also realised that the three years was an indicative timeframe. It is not something that is absolutely set in stone. I think so far we are on track to deliver on that timeframe. Thank you.