Common Market of Southern Africa

8/4/2019 Common Market of Southern Africa

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Gaitri Loke(39)

Ajinkya Mahajan(41)Bhavika Nagar(47)

Jeetendra Shinde(75)Pritima Singh(77)

Shishir Tiwari(84)


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COMESA was established 'as an organisation

of free independent sovereign states whichhave agreed to co-operate in developing theirnatural and human resources for the good ofall their people.

The Treaty establishing COMESA was signed

on 5th November 1993 in Kampala, Ugandaand was ratified a year later in Lilongwe,Malawi on 8th December 1994.


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Its main focus is on the formation of a largeeconomic and trading unit that is capable ofovercoming some of the barriers that arefaced by individual states.


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Significant and sustained increases inproductivity in industry, manufacturing,processing and agro-industries to providecompetitive goods as the basis for cross-bordertrade and to create more wealth, more jobs and

more incomes for the people of the region.

Increase agricultural production, with specialemphasis on the joint development of lake andriver basins so as to reduce dependence on rain-

fed agriculture and new programmes on foodsecurity at the provincial or district levels,national and regional levels.


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Development of transport andcommunications infrastructures and serviceswith special emphasis on linking the ruralareas with the rest of the economy in each

country as well as linking the member States.

New programmes for trade promotion, tradeexpansion and trade facilitation especially

geared to the private sector, so as to enablethe business community to take maximumadvantage of the Common Market.


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Development of comprehensive, reliable andup to date information data bases covering allsectors of the economy including industry,energy, environment, agriculture transport,

communications, investment and finance,trade, health and human resources to formthe basis for sound investment decisions andmacro-economic policy formulation andprogramming.


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Equality and inter-independence of the memberStates.

Solidarity and collective self-reliance among themember States.

Inter-State co-operation, harmonisation ofpolicies and integration of programmes amongthe member States.

Non-aggression between the member States.


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Recognition, promotion and protection of

human and people's rights in accordance withthe provisions of the African Charter onHuman and People's Rights.

Accountability, economic justice and popularparticipation in development.

The recognition and observance of the rule oflaw.


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The promotion and sustenance of a democraticsystem of governance in each member State.

The maintenance of regional peace and stabilitythrough the promotion and strengthening of

good neighbourliness. The peaceful settlement of disputes among the

member States, the active co-operation betweenneighbouring countries and the promotion of a

peaceful environment as a pre-requisite for theireconomic development.


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The aims and objectives of COMESA havebeen designed so as to remove the structuraland institutional weaknesses in the memberStates by pooling their resources together in

order to sustain their development effortseither individually or collectively.


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To attain sustainable growth anddevelopment of the member States bypromoting a more balanced and harmoniousdevelopment of its production and marketing

structures. To promote joint development in all fields of

economic activity and the joint adoption ofmacro -economic policies and programmes;

to raise the standard of living of its peoples,and to foster closer relations among itsmember States.


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To co-operate in the creation of an enablingenvironment for foreign, cross-border anddomestic investment, including the jointpromotion of research and adaptation of

science and technology for development.

To co-operate in the promotion of peace,

security and stability among the memberStates in order to enhance economicdevelopment in the region.


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To co-operate in strengthening the relationsbetween the Common Market and the rest ofthe world and the adoption of commonpositions in international forum.

To contribute towards the establishment,progress and the realisation of the objectives

of the African Economic Community.


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Supply and Demand Surveys

Buyers/ Sellers meetings

Enterprise-specific assistance

Trade Fairs and marketing missions Strengthening individual chambers of commerce

Trade Information Network (TINET)

Seminars on Doing Business in COMESA

Analysis of production and investmentopportunities


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Zero tariffs on goods from COMESA Countries.

Goods from non-COMESA dutiable at full national

tariff rates.

No NTBs on COMESA goods.

Application of COMESA Rules of Origin.


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Objective:

To establish a monetary union so as to have a zoneof monetary stability in order to facilitate the

integration efforts: Phased Monetary and Fiscal Policies Harmonisation

Programme towards a common currency issued bya common central bank in 2025.

Regional Payments System; Africa commerceexchange.


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Up-dating of information on trade and investmentlaws in COMESA;

Harmonising investment codes;

Developing Investor Roadmaps

Providing information on investment opportunities

Developing and promoting COMESA as a Common

Investment Area;

Promoting development growth poles.


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A. Air Transport Programme(1) Liberalization of Air Transport Services

(2) Air Transport Facilitation

(3) Safe Skies Programme(CNS/ATM System)

B. Road Transport and Traffic Facilitation

C. Telecommunications Interconnectivity


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Intra-COMESA trade has increased from US$

734 Million in 1985 to US$ 5.5 billion in 2003;

Transport facilitation measures has cut

transport costs by approximately 25%.

Supply/demand surveys carried out, and

buyer/seller meetings & trade fairs organised have

generated transactions worth about US $ 1 billion


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COMESA has re-defined its medium-termstrategy as being the promotion of regionalintegration through trade and investment.

COMESA is now concentrating its efforts onconsolidating and expanding the FTA andestablishing a Customs Union, while acceleratinginvestment promotion.

Documents

Common Market of Southern Africa