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Common Market for Eastern and Southern Africa

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Common Market for Eastern and Southern Africa

Integrated trading block formed in December 1994 by 20 states of eastern and southern Africa (with a combined population of 385 million) to replace the former Preferential Trade Area for Eastern and Southern Africa, which had existed since 1981. COMESA's member states have ‘agreed to cooperate in developing their natural and human resources for the good of all their people’, to promote peace and security in the region, and establish a free trade area (FTA). An FTA was launched by nine of the member states – Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia, and Zimbabwe – in October 2000. A customs union, with a common external tariff, is to be formed by 2004.

COMESA institutions including a Trade and Development Bank, based in Nairobi, Kenya, and a commercial Court of Justice, to arbitrate differences. Policy is made by a council of ministers and decisions are taken by the heads of state. Coordination is through a secretariat, based in Lusaka, Zambia, and headed by a secretary general.



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? Mentioned in ? References in periodicals archive
 
The launch of Africa's first multination free-trade area in October 2000 by the Common Market for Eastern and Southern Africa (COMESA) has raised hopes for an improved economy that will spur trade, promote peace, and attract foreign investors to this impoverished and often embattled region of Africa.
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In addition the Company has an agreement with the Common Market for Eastern and Southern Africa (COMESA) to implement and operate communication networks in its 21 member states.
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In addition the Company has an agreement with the Common Market for Eastern and Southern Africa (COMESA) to implement and operate communication networks in its 21 member states.
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