Common Market for Eastern and Southern Africa
Encyclopedia
The Common Market for Eastern and Southern Africa, is a free trade area
with nineteen member states stretching from Libya
to Zimbabwe
. COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area
in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), with Rwanda
and Burundi
joining the FTA in 2004 and the Comoros
and Libya in 2006.
COMESA is one of the pillars of the African Economic Community
.
In 2008, COMESA agreed to an expanded free-trade zone including members of two other African trade blocs, the East African Community
(EAC) and the Southern Africa Development Community (SADC).
Former members: (quit in 1997) (quit in 1997) (quit on September 2, 2000) (quit on May 2, 2004) (Suspended itself in 2007)
The following lower policy organs make recommendations to the above:
Other institutions created to promote development are:
Free trade area
A free trade area is a trade bloc whose member countries have signed a free trade agreement , which eliminates tariffs, import quotas, and preferences on most goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be...
with nineteen member states stretching from Libya
Libya
Libya is an African country in the Maghreb region of North Africa bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad and Niger to the south, and Algeria and Tunisia to the west....
to Zimbabwe
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. COMESA formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area
Free trade area
A free trade area is a trade bloc whose member countries have signed a free trade agreement , which eliminates tariffs, import quotas, and preferences on most goods and services traded between them. If people are also free to move between the countries, in addition to FTA, it would also be...
in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), with Rwanda
Rwanda
Rwanda or , officially the Republic of Rwanda , is a country in central and eastern Africa with a population of approximately 11.4 million . Rwanda is located a few degrees south of the Equator, and is bordered by Uganda, Tanzania, Burundi and the Democratic Republic of the Congo...
and Burundi
Burundi
Burundi , officially the Republic of Burundi , is a landlocked country in the Great Lakes region of Eastern Africa bordered by Rwanda to the north, Tanzania to the east and south, and the Democratic Republic of the Congo to the west. Its capital is Bujumbura...
joining the FTA in 2004 and the Comoros
Comoros
The Comoros , officially the Union of the Comoros is an archipelago island nation in the Indian Ocean, located off the eastern coast of Africa, on the northern end of the Mozambique Channel, between northeastern Mozambique and northwestern Madagascar...
and Libya in 2006.
COMESA is one of the pillars of the African Economic Community
African Economic Community
The African Economic Community is an organization of African Union states establishing grounds for mutual economic development among the majority of African states...
.
In 2008, COMESA agreed to an expanded free-trade zone including members of two other African trade blocs, the East African Community
East African Community
The East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally...
(EAC) and the Southern Africa Development Community (SADC).
Membership
Current members: (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (6 Jan 1999) (1994) (21 Dec 1981) (21 Dec 1981) (3 June 2005) (at the 10th Summit of COMESA) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (2001) (2011) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981) (21 Dec 1981)Former members: (quit in 1997) (quit in 1997) (quit on September 2, 2000) (quit on May 2, 2004) (Suspended itself in 2007)
Organs of the Common Market
The following organs have decision-making power according to the treaties- The COMESA Authority, composes of Heads of States or Government.
- The COMESA Council of Ministers
- The COMESA Court of Justice
- The Committee of Governors of Central Banks
The following lower policy organs make recommendations to the above:
- The Inter-governmental Committee
- The Twelve Technical Committees
- The Consultative Committee of the Business Community and other Interest Groups
- The COMESA Secretariat.
Other institutions created to promote development are:
- The PTA BankPTA BankPreferential Trade Area Bank, commonly known as the PTA Bank, is a trade and development financial institution in Africa. The PTA Bank is the financial arm of COMESA, but membership is open to non-COMESA States and other institutional shareholders....
(Eastern and Southern African Trade and Development Bank) in NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east... - The COMESA Clearing House in HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
, ZimbabweZimbabweZimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three... - The COMESA Association of Commercial Banks in HarareHarareHarare before 1982 known as Salisbury) is the largest city and capital of Zimbabwe. It has an estimated population of 1,600,000, with 2,800,000 in its metropolitan area . Administratively, Harare is an independent city equivalent to a province. It is Zimbabwe's largest city and its...
, ZimbabweZimbabweZimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three... - The COMESA Leather Institute in EthiopiaEthiopiaEthiopia , officially known as the Federal Democratic Republic of Ethiopia, is a country located in the Horn of Africa. It is the second-most populous nation in Africa, with over 82 million inhabitants, and the tenth-largest by area, occupying 1,100,000 km2...
- The COMESA Re-Insurance Company (ZEP-RE)in NairobiNairobiNairobi is the capital and largest city of Kenya. The city and its surrounding area also forms the Nairobi County. The name "Nairobi" comes from the Maasai phrase Enkare Nyirobi, which translates to "the place of cool waters". However, it is popularly known as the "Green City in the Sun" and is...
, KenyaKenyaKenya , officially known as the Republic of Kenya, is a country in East Africa that lies on the equator, with the Indian Ocean to its south-east... - The Regional Investment Agency in CairoCairoCairo , is the capital of Egypt and the largest city in the Arab world and Africa, and the 16th largest metropolitan area in the world. Nicknamed "The City of a Thousand Minarets" for its preponderance of Islamic architecture, Cairo has long been a centre of the region's political and cultural life...
, EgyptEgyptEgypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...
See also
- Trade blocTrade blocA trade bloc is a type of intergovernmental agreement, often part of a regional intergovernmental organization, where regional barriers to trade, are reduced or eliminated among the participating states.-Description:...
- East African CommunityEast African CommunityThe East African Community is an intergovernmental organisation comprising the five east African countries Burundi, Kenya, Rwanda, Tanzania, and Uganda. Pierre Nkurunziza, the President of the Republic of Burundi, is the current Chairman of the East African Community. The EAC was originally...
(EAC) - Economic Community of Central African StatesEconomic Community of Central African StatesThe Economic Community of Central African States is an Economic Community of the African Union for promotion of regional economic co-operation in Central Africa...
(ECCAS) - Southern African Development CommunitySouthern African Development CommunityThe Southern African Development Community is an inter-governmental organization headquartered in Gaborone, Botswana. Its goal is to further socio-economic cooperation and integration as well as political and security cooperation among 15 southern African states...
(SADC) - Southern African Customs UnionSouthern African Customs UnionThe Southern African Customs Union is a customs union among five countries of Southern Africa: Botswana, Lesotho, Namibia, South Africa and Swaziland.-History:SACU is the oldest still existing customs union in the world...
(SACU) - Arab Maghreb UnionArab Maghreb UnionThe Arab Maghreb Union is a trade agreement aiming for economic and some sort of future political unity in North Africa between the countries Morocco, Algeria, Tunisia, Libya, and Mauritania...
(UMA) - Intergovernmental Authority on DevelopmentIntergovernmental Authority on DevelopmentThe Intergovernmental Authority on Development is an eight-country regional development organization in East Africa. Its headquarters are located in Djibouti City....
(IGAD) - Greater Arab Free Trade Area (GAFTA)
- Yellow card system - motor insurance scheme of COMESA