Maravi

(HERALD) Zim exports into Comesa soar

Zim exports into Comesa soar
Business Reporter

ZIMBABWE’S exports into the Common Market of Eastern and Southern Africa increased to 64 percent while imports rose to 93 percent, the Minister of Industry and International Trade Mr Obert Mpofu has said. He attended the 24th meeting of the Comesa council of ministers held in Zambia recently. Overall the Comesa region registered a 5 percent growth in Gross Domestic Product (GDP) in spite of the increase in oil prices.

In order to grow the GDP in the region, the council resolved to promote the Free Trade Area (FTA) by taking up a pilot project on a simplified trade regime whose objective is to encourage SMEs and cross border traders to benefit from the area. Mr Mpofu said simplified trade would not only provide employment and livelihood but would also promote food security.

"The Council is mainly promoting cross border traders because they act as agents for moving produce from surplus to deficit areas".

Zimbabwe will implement the project through the Ministry of Small and Medium Enterprises Development and the funds will come from the Comesa Secretariat. Mr Mpofu said for the project to be successful, council had underscored the need for a fair, transparent and predictable framework for doing business.

This would be made possible through the development of a regional quality policy on Standardisation and Quality Assurance, which would include a regional technical regulatory framework as well as modalities on certification, testing and calibration services.

Minister Mpofu said after informing the council of the progress of the Chirundu One-Stop Border Post, it was resolved that the Secretariat should work with member states to identify border posts with a major impact on regional trade, at which the lessons learnt from the Chirundu border post would be replicated.

The bilateral agreement on the One-Stop Border Post project is in the process of being ratified.

Last week, the One-Stop Border Posts Control Bill, which provides for the conclusion of agreements with one or more neighbouring states on the establishment of the border posts went through the second reading in Parliament.

The proposed law makes it possible for selected laws of Zimbabwe to be applied extra-territorially while similar laws of one or more states would have the same effect inside Zimbabwe.

With regard to the change to digital broadcasting from analogue as proposed by the organisers of the Fifa 2010 World Cup in South Africa, the council resolved that Comesa countries should develop strategies that would enable the region to broadcast the World Cup events to the public.

Labels: COMESA, FREE TRADE AREA, SMEs, ZIMBABWE

posted by MrK @ 6:31 AM