What are the goals of COMESA?

Economics Trade Agreements Questions Medium



80 Short 80 Medium 80 Long Answer Questions Question Index

What are the goals of COMESA?

The Common Market for Eastern and Southern Africa (COMESA) is a regional economic organization consisting of 21 member states. The goals of COMESA are as follows:

1. Promote regional economic integration: COMESA aims to create a common market by removing trade barriers and promoting the free movement of goods, services, and capital among member states. This integration is expected to enhance economic efficiency, attract investment, and stimulate economic growth in the region.

2. Foster sustainable development: COMESA seeks to promote sustainable development by encouraging member states to adopt policies that promote social and economic progress, poverty reduction, and environmental sustainability. This includes promoting agricultural development, industrialization, and infrastructure development in the region.

3. Enhance competitiveness: COMESA aims to enhance the competitiveness of member states' economies by promoting trade facilitation, harmonizing trade policies and regulations, and improving the business environment. This includes reducing trade barriers, simplifying customs procedures, and promoting the use of technology in trade facilitation.

4. Promote regional peace and security: COMESA recognizes the importance of peace and security for economic development. It aims to promote peace, stability, and security in the region through cooperation and dialogue among member states. This includes addressing conflicts, promoting good governance, and combating terrorism and other transnational crimes.

5. Strengthen regional cooperation and integration: COMESA seeks to strengthen cooperation among member states and with other regional economic communities. This includes promoting joint projects and programs, sharing best practices, and coordinating policies and strategies to maximize the benefits of regional integration.

Overall, the goals of COMESA are centered around promoting regional economic integration, sustainable development, competitiveness, peace and security, and strengthening regional cooperation.