The DRC has trading relationships with more than 50 nations and is a member of many global and domestic trade organizations, such as the organization for the harmonization of African business law (OHADA), the world trade organization (WTO), the economic community of Central African States (ECCAS), the common market for eastern and southern Africa (COMESA), the Nile basin initiative (NBI), the southern African development community (SADC), the economic community of Central African States (ECCAS), the economic community of Central African States (ECCAS) (ECGLC). 

Extra-statutory agreements of OHADA 

An extra-statutory contract is a commitment between investors or associates that runs concurrently with the firm’s certificate of incorporation. As per articles 2-1, the collaborators may enter into extra-statutory contracts to organize the interactions between affiliates, the structure of the corporation’s organs, the administration of the company’s performance, availability of the equity stock, and the handover of stock holdings according to the methods they have independently agreed.

The world trade organization agreement

Congo has been a participant of the world trade organization (WTO) since March 27, 1997. Commodities, facilities, and copyrights are all covered by WTO accords. They lay forth the liberalization concepts as well as the authorized exclusions. Individual country obligations to cut import taxes and other trading obstacles, as well as to establish and maintain free goods economies, are among them. They provide methods for resolving disagreements. They recommend that emerging economies receive preferential consideration. They compel states to make their import tariffs open by alerting the WTO about regulations in place and actions enacted, as well as reporting on nations’ trade agreements regularly by the secretariat.

ECCAS 

ECCAS was founded in 1985 but was dormant for a few years due to economic issues and the great lakes war. The DRC war was especially polarizing, with Rwanda and Angola fighting on opposing sides. Following a formal agreement in 1999, ECCAS was classified as a foundation of the African economic community (AEC). In June 1999, the AEC reaffirmed the relevance of ECCAS as a key economic zone.

ECCAS aims to build potential to preserve harmony, safety, and consistency as necessary preconditions for financial and social advancement; to create physiological, fiscal, and monetary integration; to build a culture of human integration, and create an independent funding process for ECCAS.

COMESA 

The Common Market for Eastern and Southern Africa (COMESA) brings together 21 African countries, including Congo, intending to encourage geographical unity through commerce and the utilization of physical and anthropogenic assets for the welfare of all residents.

Congo, as a COMESA participant, has consented to the creation and maintenance of an entire trading bloc that guarantees open borders for products and services generated inside COMESA, as well as the elimination of all duties and non-tariff obstacles.

The accord also calls for the progressive reduction and ultimate abolition of visa regulations, paving the way for free mobility of people, services, businesses, and citizenship.

The agreement also called for the gradual creation of a finance system centered around the COMESA clearing corporation and the ultimate creation of a shared financial union with a single currency.

NBI

The Nile Basin Initiative (NBI) collaborates amongst Nile riparian nations, including Congo, to improve the waterway, share significant economic rewards, and support regional tranquility and stability.

The Cooperative Framework Agreement (CFA) lays forth the policies, privileges, and responsibilities for the Nile Basin’s water supplies administration and growth. Instead of establishing equal rights or water usage ratios, the Agreement aims to create a structure for management programs, balanced development, and peaceful use of the Basin’s water supplies, and also their maintenance and preservation for current and future inhabitants.

The pact has the potential to be a catalyst for economic development, unemployment reduction, regional development, and national peacebuilding. Its approval by all Basin countries would signal their willingness to work together to manage and use their common water resources. Accessibility to foreign funding and contacts with development agencies from the government and commercial sectors could be facilitated by such a signal of devotion.

SADC 

The agreement on Business of the Southern African Development Community (SADC) (1996), as revised in 2010, is one of the most important legislative tools driving SADC’s trade operations. It is a deal between SADC participating countries to lower import charges and other economic obstacles on foreign goods within the SADC region.

Certain tactics are encouraged by SADC to promote trade across Southern Africa. Progressive import duties abolition, adoption of prevalent regulations of source, code of customs policies and protocols, acquisition of worldwide appropriate norms, reliability, certification, and standardization, coordination of properly sanitized and biosecurity initiatives, eradication of non-tariff obstacles, and liberalization of solutions trading activities are among these strategies.

ECGLC 

A sub-regional organization is the economic community of the Great Lakes Countries. Its goals include protecting member nations’ safety, encouraging the formation and development of public-interest activities, increasing person-to-person and possession-to-person trade, and fostering close economic and social collaboration.

Burundi, the Democratic Republic of the Congo, and Rwanda are its three members. Its primary goal is to foster local trade integration and collaboration.