Zambia says it will maintain its membership in both the Southern Africa Development Community (SADC) and the Common Market For Eastern and Southern Africa (COMESA).
Commerce Permanent Secretary Davidson Chilipamushi disclosed this saying Zambia trades more with SADC but has also an interest in COMESA which has its headquarters in Zambia.
The Permanent Secretary however called for the harmonisation and rationalisation of the protocol of Regional Economic Communities (REC’s).
He noted that COMESA was set to come up with its Customs Union this year while SADC was first establishing the Free Trade Area and that the whole regional intergration package includes the completion of negotiations for the Customs Union in 2010, the Common Market by 2015, and the establishment of a monetary Union by 2016 and the regional central bank with a common currency by 2018.
At the same function during the 14th meeting of the Government Committee of Experts for Southern African briefing in Lusaka yesterday, United Nations Economic Commission for Africa- Southern Africa (ECA-SA) said there was need to deepen efforts aimed at promoting regional intergration in support of the African Union’s vision and priorities.
Economic Commission For Africa Southern Africa Director Jeninifer Kargbo said the ECA office was involved in assisting member states in montoring and assessing progress made in micro economic and institutional policy convergence , monetary and financial intergration as the region prepares for the Free Trade Area (FTA) and Customs Union (CU).
The ECA Southern Africa Director noted that the Southern African Region has presented an evaluation of progress towards the attainment of the FTA and CU in SADC and Common Market For Eastern and Southern Africa (COMESA)respectively.
She further noted there was need for countries to have an ultimate goal creation of one trading bloc to benefit the whole region. She added that countries would decide the prices as they get in the Customs Union Phase between now and 2010 as the harmonisation of the Regional Economic Communities REC’s is in process.