Finance and National Planning Minister, Situmbeko Musokotwane has said there is need to increased momentum on regional integration and free trade if countries in the (COMESA) region are to address their problems.
The Minister was speaking during the 4th meeting of the Regional Integration Support Mechanism (RISM) advisory committee in Lusaka today.
He said most economies in the sub-region are dependent on single commodity-trade particularly in the production and export of unprocessed natural resources such as minerals and crops.
Dr. Musokotwane said although the exports from these commodities have contributed to the development of the economies in the region, countries have to deal with high poverty levels, unemployment, illiteracy,and poor infrastructure.
He, however, said regional integration would not deliver the benefits if COMESA member countries do not take advantage of the vast market in the Eastern and Southern Africa-Indian Ocean (ESA-IO) region.
The minister noted that by taking advantage of the ESA-IO, countries would create a uniform and predictable environment for the private sector who are the major drivers of the economy.
And COMESA Assistant Secretary General Stephen Karangizi said the current RISM would allow all the countries to take advantage of the support to achieve the common objectives of the regional agenda.
Mr. Karangizi said that the reformulated RISM programme would also provide the opportunity for countries to make larger steps in the implementation of regional programmes.
He said this expected to lead to faster and deeper integration that facilitates trade internally and with global economies.
[ QFM ]
I agree. COMESA has a market of 400 million people. The benefits are immense. We need more regional economic integration.
Beware of kenya in this integration.They will dominate and flood your market.Even their regional East African Community had to apply brakes on uniform tarrifs which applied to all members except kenya for 5yrs in order to shape up to their ruthless capitalism.