Common Market for East and Southern Africa
Three of Africa’s regional economic communities have agreed to launch the long-awaited Tripartite Free Trade Area at a joint summit of leaders from the regional groups scheduled for December in Egypt, APA learnt here Monday.
The government of Ethiopia is on the move to join the Common Market for Eastern and Southern Africa (COMESA) Free Trade Area (FTA) which enables the country to have preferential trade interaction between member countries.
Negotiations to set up a grand free trade zone encompassing 26 countries in eastern and southern Africa are progressing well and may be completed in 2015, a year before schedule, SADC officials reveal.
The Zambian government in collaboration with the Common Market for Eastern and Southern Africa (COMESA) has put in place a committee which will look at ways and means of increasing exports to the Africa Growth Opportunity Act market in the United States of America.
Kenyan sugarcane farmers and consumers face a bleak future, as Government departments tasked with implementing reforms in the sector drag their feet.
Zambia Sugar Plc has expressed concern at the non-application of tariffs on sugar imported outside the Common Market for Eastern and Southern Africa (COMESA) as it is displacing regional producers.
African high-level officials indicated recently that negotiations for the establishment of a free-trade area spanning three major regional economic communities in Africa have progressed well and could conclude by the end of this year.
African countries need to look at the possibility of fast-tracking the tripartite Free Trade Area if hopes of an improved intra-African trade are to be met anytime soon, according to the African Union Commission
A technical team from the Ministry of East African Affairs, Commerce and Tourism last week held a meeting with the Common Market for Eastern and Southern Africa (Comesa) Secretariat over the progress of the local sugar industry.
Twenty-six eastern and southern African nations are making progress toward agreeing on a free trade area that will create a market with nearly 600 million people and combined gross domestic product of $1 trillion, South African President Jacob Zuma said.
Three regional economic communities in Africa — COMESA, EAC and SADC — are expected to sign an agreement this year to establish an enlarged market covering 26 countries in eastern and southern Africa.
Vice-President Guy Scott has said there is need to put in place a strong legal framework that will promote free and fair trade within the Common Market for Eastern and Southern Africa (COMESA).
Former Deputy Prime Minister Musalia Mudavadi has asked the government to seek an extension of the Comesa safeguards to protect the local sugar industry from excessive imports from the Comesa region.
Negotiations between three trade blocs in Africa to create a free trade area were running behind schedule in terms of reaching their 2014 deadline but were nevertheless progressing, South Africa Trade and Industry Minister Rob Davies said last week.
Kenya’s sugar sector is in limbo as the COMESA safeguard period nears its end. COMESA is the Common Market for Eastern and Southern Africa.
The history of the Common Market for Eastern and Southern Africa (COMESA) began in December 1994, when it was formed to replace the Preferential Trade Area (PTA), which had existed from the earlier days of 1981.
The Government of Zambia has called on the three African regional economic communities (RECs) — the East African Community (EAC), the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC) — to speed up their free trade agreement (FTA) negotiations.
African Development Bank is stepping in to help East and South African region accelerate the push towards a common currency status. To achieve this, it has drafted a stringent set of financial guidelines to steer the process.
Kenyan firms — regardless of their size — can now sue the government in the Common Market for Southern Africa (Comesa) Court of Justice, the highest in the intergovernmental organisation, if its actions break rules of the trading bloc.
Economic experts have supported the recent decision taken by the government of Uganda to join the COMESA FTA, saying it would increase the volume of Ugandan exports to the COMESA FTA and promote the country’s economic growth.