AFRICAN TRADE PACT LAUNCHED
Jun 8th, 2009 by admin
The Common Market for Eastern and Southern Africa (COMESA) has launched a pact that will eliminate trade barriers across 19 African countries. As part of the deal, launched yesterday, a range of tariffs from zero to 25 per cent will apply to certain categories of imported goods and services. It will also harmonise tariffs on products traded between members. COMESA’s newly elected-chairman, Zimbabwean President Robert Mugabe said COMESA’s fund is crucial because it is the only way to end dependence on external partners. According to officials, COMESA has boosted trade within Africa by five-fold since 2000.
