On February 26, 2025, the Southern African Development Community (SADC) and the Bolivian Alliance for the People of Our America-People Trade Treaty (ALBA-TCP) signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in key areas such as industrialization, trade, and peace.
The MoU was signed virtually by SADC Executive Secretary H.E. Elias M. Magosi and ALBA-TCP Executive Secretary Mr. Jorge Arreaza. The agreement sets the framework for joint initiatives in areas including youth training, education, health, tourism, and natural resource management, with a focus on promoting social, economic, and human development in both organizations’ member states.
The MoU outlines several areas of cooperation, including disaster risk management, trade facilitation, sustainable environmental practices, and peace and security efforts. Both organizations aim to collaborate closely to address these issues and strengthen ties for mutual benefit.
Mr. Arreaza expressed his support for the agreement, calling it a historic moment for both organizations. He highlighted ALBA-TCP’s commitment to political and economic integration across Latin America and the Caribbean, as well as its focus on environmental sustainability and social equity.
H.E. Magosi noted that discussions on the MoU began in 2021 and praised the formal signing as a major step forward in cooperation between SADC and ALBA-TCP. He pointed out that both organizations share similar goals in promoting regional integration and peace, making the collaboration crucial for their member states.
