Common Market for East and Southern Africa
Before mid-year South Africa would host the next summit on the establishment of a Trilateral Free Trade Agreement (T-FTA) among the regional economic groupings of the East African Community (EAC), the Common Market for Eastern and Southern Africa (Comesa), and the Southern African Development Community (SADC).
COMESA is developing an agro-processing sector strategy in partnership with the International Trade Centre under the All-African Caribbean Pacific Agricultural Commodities Programme.
Negotiations for a tripartite free trade area (FTA), which would include 26 East and Southern African member states, were expected to begin by mid-year, Trade and Industry Minister Rob Davies said on Tuesday.
Implementation challenges and barriers to trade liberalization currently dogging SADC’s Free Trade Area (FTA) will continue to haunt member states in the implementation of an ambitious grand FTA encompassing COMESA, EAC and SADC.
As the Common Market for Eastern and Southern Africa (COMESA), East African Community (EAC) and Southern African Development Community (SADC) continue to integrate their economies, countries are now subscribing to the block’s trading area in order to attract investment.
South Africa is pushing ahead to secure a free trade agreement between the Southern African Development Community (SADC), the East African Community (EAC) and the Common Market for East African States (Comesa).
African governments’ ambitious plan for a tripartite free trade area (FTA), stretching from South Africa to Egypt, could be more realistic than getting existing ineffective regional customs unions on the continent to work.
The envisaged grand Free Trade Area (FTA), a grouping of COMESA, EAC and SADC will hold a decisive tripartite summit in January 2011 in South Africa as a major push for coalescence amongst the 26 countries gathers traction.
President Mugabe has urged the Common Market for Eastern and Southern Africa to broaden its Free Trade Area to take on board other regional blocs and move away from exporting primary products in favour of processed goods.
The private sector has been urged to actively participate in the formulation of policies that will help guide the proposed Free Trade Area of COMESA, East African Community (EAC), and the Southern African Development Community (SADC).
Three regional trading blocs have created a draft agreement which paves the way for the setting up of a $624 billion free trade area.
Common Market for Eastern and Southern Africa (COMESA) Secretary-General Sindiso Ngwenya on Tuesday urged China to enter into joint ventures with Africa’s largest regional trading and economic grouping to capitalize on the customs union that was launched last year.
Three regional trading blocs — the Common Market for East and Southern Africa (Comesa), East African Community (EAC) and the Southern African Development Community (Sadc) — plan to launch a Free Trade Area by 2012.
The Common Market for Eastern and Southern Africa (Comesa) has announced a number of measures to increase intra-regional trade threefold.
Relative advancement of Kenya, South Africa and Egypt’s economies has emerged as one of the leading threats to the merger of three African trading blocs, trade experts said, citing potential disputes that lie in joining economies that are at different levels of development in a seamless market.
Three African trade blocs that have agreed to form a free trade area covering more than half a billion people created a long overdue roadmap on Monday.
US assistant trade representative for Africa Florizelle Liser yesterday said there is need to strengthen her country’s relationship with the COMESA region through various trade and investment agreements.
In a move to compensate revenue losses accrued by Rwanda as a result of having a common external tariff after the adoption of the EAC customs union protocol, the Common Market for Eastern and Southern Africa (Comesa) will disburse â‚¬10.3 million (Frw 8.8 billion) through budget support for the fiscal year 2009/10.
Burundi has received euro 4.4 million (US$6.4 million) grant from the Common Market for Eastern and Southern Africa (COMESA) under the adjustment facility.
Three leading regional trading blocs in Africa — EAC, COMESA and SADC — have simplified the rules of origin to be applied by all member states in a move aimed at boosting intra-continental trade.