COMESA ministers endorse proactive approach in handling external shocks

Saturday, September 04, 2010

COMESA ministers endorse proactive approach in handling external shocks

COMESA ministers endorse proactive approach in handling external shocks
By Mutale Kapekele
Thu 02 Sep. 2010, 14:40 CAT

COMESA ministers of foreign affairs have observed that the region should develop some financial and economic muscle if it is to be shielded from external economic shocks.

Moving a vote of thanks on behalf of her counterparts, during the official closing of the 10th meeting on Monday at Royal Swazi Spa Hotel, in Ezulwini, Swaziland, Malawi foreign affairs minister Professor Etta Elizabeth Banda said the region had economic potential which was yet to be realised.

“I believe our region has a lot of economic potential but these can only be realised if we comprehensively address the conflicts in our region,” Prof Banda said.

“As you are aware, we cannot certainly sit back and wait to feel the impact of external economic crisis because it will not only be too late to be able to do much, but it will also be much more costly.”

Prof Banda said Africa was endowed with abundant natural resources which were not only good for agriculture but also supported the harnessing of technologies like geothermal and solar technology.

She added that Comesa should take advantage of the region’s vast market, a wealth of human resource and affordable labour to generate projects that would benefit the region, saying these were the tools that could help make the region an economic powerhouse.

Prof Banda urged Comesa member states to unite if the goals of regional integration were to be achieved on time.

“We, however, also need to see ourselves as one region and not as 19 member countries because there is strength in unity,” said Prof Banda.

“On our part as ministers that consider the modalities of peace and security for the region, we would like to reassure you that we shall play our part and do everything possible to create an enabling environment for the development and integration of our region.”

Labels: COMESA, ECONOMIC DIVERSIFICATION, ETTA ELIZABETH BANDA