What is COMESA

COMESA Objectives and Priorities

The history of COMESA began in December 1994 when it was formed to replace the former Preferential Trade Area (PTA) which had existed from the earlier days of 1981. COMESA (as defined by its Treaty) was established ‘as an organisation of free independent sovereign states which have agreed to co-operate in developing their natural and human resources for the good of all their people’ and as such it has a wide-ranging series of objectives which necessarily include in its priorities the promotion of peace and security in the region.

However, due to COMESA’s economic history and background its main focus is on the formation of a large economic and trading unit that is capable of overcoming some of the barriers that are faced by individual states..

COMESA’s current strategy can thus be summed up in the phrase ‘economic prosperity through regional integration’. With its 19 (now 21 since 18 July 2018) Member States, population of over 540 million and global trade in goods worth US$ 235 billion COMESA forms a major market place for both internal and external trading. Its area is impressive on the map of the African Continent covering a geographical area of 12 Million (sq km). Its achievements to date have been significant. (Newest Member States: Tunisia and Somalia not included)

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What COMESA Offers

COMESA offers its members and partners a wide range of benefits which include:
1. A wider, harmonised and more competitive market
2. Greater industrial productivity and competitiveness
3. Increased agricultural production and food security
4. A more rational exploitation of natural resources
5. More harmonised monetary, banking and financial policies
6. More reliable transport and communications infrastructure

COMESA Priority Areas

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A Free Trade Area

The FTA was achieved on 31st October, 2000 when nine of the member States namely Djibouti, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe eliminated their tariffs on COMESA originating products, in accordance with the tariff reduction schedule adopted in 1992.This followed a trade liberalisation programme that commenced in 1984 on reduction and eventual elimination of tariff and non-tariff barriers to intra- regional trade. Burundi and Rwanda joined the FTA on 1st January 2004. These eleven FTA members have not only eliminated customs tariffs but are working on the eventual elimination of quantitative restrictions and other non-tariff barriers.

Customs Union

A Customs Union maybe defined as a merger of two or more customs territories into a single customs territory, in which customs duties and other measures that restrict trade are eliminated for substantially all trade between the merged territories. The territories, in turn apply the same duties and measures in their trade with third parties. In preparation for a Customs Union the Eleventh Meeting of the Council of Ministers held in Cairo, Egypt adopted a Road Map that outlined programmes and activities whose implementation was necessary before the launching of the Union. It is expected that the launch will be achieved by the year 2008

Trade Promotion

Other objectives which will be met to assist in the achievement of trade promotion include:
1. Trade liberalisation and Customs
co-operation, including the introduction of a unified computerised Customs
network across the region.
2. Improving the administration of
transport and communications to ease
the movement of goods services and
people between the countries.
3. Creating an enabling environment and
legal framework which will encourage the
growth of the private sector, the
establishment of a secure investment
environment, and the adoption of
common sets of standards.
4. The harmonisation of macro-economic
and monetary policies throughout the
region.

COMESA Core Values

These core values have been forged through over 20 years of existence. As a Regional Economic Community (REC), our commitment to these core values starts with our diversity in staff drawn from the 21 Member States and runs through the organization. Our core values are:
1. We believe in satisfying our customers
2. We take pride in our reputation for delivering services with professionalism,
integrity and innovation.
3. We believe in quality leadership, teamwork and respect for each other in an
enabling environment.
4. Our people care for our environment and uphold its social responsibility

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COMESA Institutions

Africa Leather and Leather Products Institute (ALLPI)

The COMESA Leather and Leather Products Institute (LLPI) promote the development of the COMESA region leather industry and the development of the leather sector in the Member States…

African Trade Insurance Agency (ATIA)

ATI is a pan-African institution that provides political risk insurance to companies, investors, and lenders interested in doing business in Africa. With deep roots in Africa, we are best positioned to understand and assess the risks here – and to help mitigate them.

COMESA Business Council (CBC)

COMESA Business Council is a Business Member Organization and recognized private sector institution of the Common Market of Eastern and Southern Africa (COMESA). It is the voice of the Private Sector in the region.

COMESA Competitions Commission (CCC)

The Commission promotes and encourages competition by preventing restrictive business practices and other restrictions that deter the efficient operation of markets, thereby enhancing the welfare of the consumers in the Common Market, and protecting consumers against offensive conduct by market actors.

COMESA Court of Justice (CCJ)

The Court of Justice of the Common Market for Eastern and Southern Africa (COMESA Court of Justice) was established in 1994 under Article 7 of the COMESA Treaty as one of the Organs of COMESA. The Court’s primary function is to uphold the rule of law in the enforcement of the COMESA Treaty.

Federation of National Associations of Women in Business in Common Market for Eastern and Southern Africa (FEMCOM)

FEMCOM’s main objectives were to promote programs that integrate women into the trade and development activities in Eastern and Southern Africa.

The Regional Regional Investment Agency (RIA)

The Regional Investment Agency (RIA), the investment promotion arm of COMESA was launched in June 2006, with a mandate to make the COMESA region a viable, attractive destination for regional and international investors.

Trade and Development Bank (TDB)

The Trade and Development Bank, formerly the PTA Bank, is a trade and development financial institution in Africa. The TDB is the financial arm of the Common Market for Eastern and Southern Africa, although membership is open to non-COMESA states and other institutional shareholders.

PTA Reinsurance Company (ZEP-RE)

ZEP-RE (PTA Reinsurance Company) underwrites life and non-life reinsurance risks in Kenya, Ethiopia, Tanzania, Zimbabwe, India, Uganda, and Sudan. The company offers property, casualty, motor, marine, aviation, life, and medical insurance products. ZEP-RE (PTA Reinsurance Company) is headquartered in Nairobi, Kenya.

COMESA Monetary Institute (CMI)

COMESA Monetary Institute was established in 2011 in Nairobi, Kenya, in order to undertake all the preparatory work for implementing all the stages of the COMESA Monetary Cooperation Programme envisaged for 2018. The Institute is hosted by the Central Bank of Kenya and operates hand in hand with the COMESA Central Banks.

The Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA)

The Regional Association of Energy Regulators for Eastern and Southern Africa (RAERESA) is one of the specialized institutions of COMESA in the field of energy regulations, whose objectives include, among others, capacity building and information sharing, facilitation of energy supply policy, legislation and regulations.