The Common Market for Eastern and Southern Africa (COMESA), one of the most successful economic groupings in Africa, celebrated its 10th anniversary at the end of 2004 with mixed fortunes.
Ten years after the COMESA treaty entered into force in December 1994, ratified by nine states, the integration body now boasts 19 member countries, with a total population of 350 million and a combined gross domestic product (GDP) of around 190 billion US dollars.
As COMESA Secretary General Erastus Mwencha put it, COMESA has made tremendous progress with tangible results in many areas.
The results include the launch of a free trade area (FTA), increased regional trade, improved infrastructure, facilitation of trade, investment and movement of goods and persons. The list goes on.
COMESA has also suffered setbacks. A serious one came just at the 10th anniversary. The much touted customs union failed to take off on December 10 as planned, due to differences among member states.
Prayer Mix
1 week ago
0 comments:
Post a Comment