Tuesday, 28 August 2012

Common Market for Eastern and Southern Africa (COMESA)

Common Market for Eastern and Southern Africa (COMESA) came into force on December 8, 1994, and now has 19 members.  COMESA is Africa’s largest economic community with a total population of around 430 million and an estimated combined GDP of US$ 447 billion. 

The main goals of COMESA are to eliminate the structural and institutional weaknesses of member states and to promote political stability and sustained  economic development.

India is one of the cooperating partners of COMESA. The deeper integration among the COMESA states will enable the Indian companies to participate in  infrastructure related projects being promoted by COMESA and set up facilities to manufacture items such as agricultural  equipment, textiles, pharmaceuticals, telecom equipment, processed foods in these countries and export to the COMESA and other Sub-Saharan African states.  
India today said it has set up a joint study group to examine the possibility of a free trade pact with the 19-nation Common Market For Eastern and Southern Africa  (COMESA).

The DRC, Madagascar, Malawi, Mauritius, Seychelles, Swaziland, Zambia and Zimbabwe are also members of the Southern African Development Community (SADC).]


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