Domki Letniskowe - Kajaki

Wypożyczalnia kajaków Radawa (Surmaczówka)

What Is Comesa Agreement

The COMESA agreement, also known as the Common Market for Eastern and Southern Africa, is a free trade agreement that was established in December 1994. It is made up of 21 member states from the African continent, all of whom have agreed to liberalize their trade in goods and services with each other.

The main objective behind the establishment of the COMESA agreement was to create a common market in Eastern and Southern Africa that would promote economic development, regional integration, and political stability. The agreement aims at achieving this through the gradual elimination of tariff and non-tariff barriers to trade and the creation of a single market, which would facilitate the free movement of goods, services, capital, and people across the member states.

The member states of the COMESA agreement include Burundi, Comoros, the Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Somalia, South Sudan, Sudan, Swaziland, Tanzania, Uganda, and Zambia.

The COMESA agreement has been successful in promoting intra-regional trade among its member states. Between 1994 and 2019, trade among COMESA member states grew from US$1.5 billion to US$19.3 billion, representing an increase of more than 1,000%.

The COMESA agreement has also created opportunities for investment and job creation in member states. It has attracted foreign investors to the region, which has led to the establishment of new businesses and industries, generating significant economic growth and employment opportunities.

In addition, the COMESA agreement has facilitated the harmonization of policies and regulations among member states, making it easier for businesses to operate across borders. It has also created a legal framework for resolving disputes arising from trade and investment activities.

However, the COMESA agreement still faces numerous challenges, including the limited participation of some member states, inadequate infrastructure, and weak institutions in some member states. These challenges hinder the full realization of the agreement`s objectives and limit its potential impact on economic development in the region.

In conclusion, the COMESA agreement is a crucial step towards regional integration and economic development in Eastern and Southern Africa. Its success has been demonstrated by the significant growth in trade and investment among member states. With continued commitment from member states, the COMESA agreement has the potential to create even more opportunities for economic growth and job creation in the region.