Foreign Ministers from the Common Market for Eastern and
Southern Africa (COMESA) are due to meet in Nairobi on Monday ahead
of the Heads of State and Government Summit the following day.
A statement from the COMESA Secretariat said on Sunday the
foreign ministers from the Africa's premier multilateral
organization would discuss the COMESA communique among other issues
affecting the regional trading bloc.
The Summit to be held in Nairobi on May 22 to 23 will address
strengthening and consolidating of the free trade area and also
focus on the progress on Economic Partnership Agreement
negotiations with the European Union.
The summit will also explore possibilities of putting in place
the customs unions for their markets by 2008 and promote regional
trade and investment.
Last week, trade ministers from the COMESA countries meeting in
Nairobi agreed on a common external tariff system for the
region.
The landmark decision now paves the way for the launch of the
Customs Union in the 20-member regional bloc in December 2008.
The ministers also agreed to set up a COMESA Fund next month to
help countries improve infrastructure, and cushion some from
adverse effects of trade policies.
The Africa's premier multilateral organization is moving towards
transforming the FTA into a Customs Union by 2008, characterized by
deeper integration and merger of customs territories into a single
customs territory.
Under the arrangement countries would eliminate tariffs and
other restrictive regulations on trade to create a more conducive
trade environment.
The bloc was founded in 1994 when it replaced the Preferential
Trade Area which had been in existence since 1981.
(Xinhua News Agency May 21, 2007)
