Comesa launches customs union in June

HARARE – The Common Market for East and Southern Africa (Comesa) will launch a customs union at its heads of state and government meeting scheduled for the Zimbabwean resort town of Victoria Falls in June, the bloc said on Thursday.

COMESA secretary general Sindiso Ngwenya told reporters in Harare that the summit will take place between June 7 and 8 and will discuss critical issues affecting the region, with the launch of the Comesa Customs Union the major highlight of the event.
‘The summit will now be held from June 7-8,’ said Ngwenya, adding: ‘The theme will be ‘Deepening Regional Integration Through Value Edition’. We expect all 19 countries to attend and I have received confirmation from more than 60 captains from major industries across the region.’
The summit failed to take place last year after the Comesa secretariat indicated that it required time to implement decisions of the Comesa-East African Community (EAC)-SADC Tripartite Summit held in Uganda in October.
The three regional blocs needed to decide on the harmonisation of Free Trade Areas (FTAs) and Common External Tariffs (CETs).
Of immediate priority was the harmonisation of the CETs of Comesa and EAC whose consultations were expected to go beyond December 8, 2008, when the Comesa Customs Union was initially scheduled to be launched.
Comesa said it was ready to chip in with financial assistance to ensure that the summit – which comes as Zimbabwe begins the journey towards repairing its shattered economy – takes place.
At least 1 000 delegates, including heads of major international financial institutions are expected to attend.
Zimbabwe is expected to take over the chairmanship of Comesa from Kenya at the summit.
‘The summit will be preceded by the Comesa Council of Ministers Summit from 4 to 5 June and there will also be the Comesaa Business Summit,’ said Ngwenya.
The Comesa secretary general also revealed that the bloc had entered into dialogue with the private sector in Zimbabwe to assess their financial requirements for the resuscitation of companies but he would not reveal the figures involved.
‘We will not talk numbers but we are working with the private sector to see what their requirements are.’
Ngwenya said Comesa would help Zimbabwe’s industrial sector through the Islamic Development Bank, the Industrial Development Bank of South Africa and the PTA Bank.
Zimbabwe’s unity government between President Robert Mugabe and Prime Minister Morgan Tsvangirai has appealed for aid amounting to US$10 billion to help kick-start the economy whose industries have been operating at less than 10 per cent over the past years.
SADC has pledged to help Zimbabwe raise cash and resources to rebuild its once robust economy but faces an uphill task convincing Western nations – who remain sceptical of the Harare government’s commitment to economic and political reform – to contribute.
-ZimOnline