how does zambia benefit from comesa

COMESA: Introduction The Common Market for Eastern and Southern Africa (COMESA) is a free trade area that encompasses 19 countries stretching from Libya to Zimbabwe. E-mail: secretariat@zacci.co.zm At the end of 1999, four multilateral economic co -operation schemes were operating in Southern Africa: SADC, COMESA, SACU (Southern African Customs Union) and the CBI (Cross Bor der Initiative). Tel: +260-211-220177 | +260-211-222858 Zambia’s manufactured export products include engineering products, textiles, building materials, processed foods, animal products, and leather products. The COMESA agreement aims to gradually lift tariff and non-tariff barriers on goods between members, but only for goods made locally by member states. Zambia is a member of the COMESA (Common Market for Eastern and Southern Africa), and the Southern African Development Community (SADC). ; 2006, International Monetary Fund; COMESA and SADC: Prospects and Challenges for Regional...; Padamja Khandelwal, Economic Commission for Africa; Economic Report on Africa 2002: Tracking Performance and Progress. COMESA is now comprised of 21 African Member States, being Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Somalia, Sudan, Swaziland (Eswatini), Tunisia, Uganda, Zambia and Zimbabwe. COMESA promotes member cooperation in financial and monetary matters and establishes convertibility of their currencies through the Common Monetary Union. COMESA states have the benefit of making regulations to facilitate movement of goods and services within the region and adopting a Third Party Vehicle Insurance Scheme. Compared with other regional economic communities in Africa, the share of intra-SADC trade at 11% of the region’s total trade is relatively high. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. Current Status. Efforts to rationalise markets and best practice throughout the region can only enhance the current level of effectiveness of the organisation. To the north it is bordered by the Democratic Republic of Congo and the United Republic of Tanzania, to the west by Angola, to the south west by Namibia, to the east by Malawi and Mozambique, and to the south by Zimbabwe and Botswana. Website: http://www.zda.org.zm, Zambia Development Agency The maximum possible gains from free trade for Zambia are 2.8% of gross domestic product annually while the completion of COMESA and SADC free trade areas provides economy-wide benefits of 1.2% and 1.0% of GDP respectively. Zambia is also integrated within two free trade areas, the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), which holds trade benefits between member countries. Member states have the advantage of providing high quality goods and services in the Common Market because COMESA treaty recommends elimination of rigidities in manufacturing and production. Address Privatization House Zambia is an entirely landlocked country covering an area of 752,612 km². The rest apply partial cuts. U.S.-ZAMBIA RELATIONS The United States established diplomatic relations with Zambia in 1964, following its independence from the United Kingdom. Livingstone is another main centre, the former capital of Zambia, located eight kilometres from Victoria Falls. E-mail:  info@zda.org.zm Tel: +260-211- 253020|252483 and SADC and COMESA (dual) are third and fourth largest export markets for Zambia, respectively. E-mail: marketing@zambia.travel Website: http://www.zam.co.zm, Zambia Development Agency In the field of agriculture, the member states can easily cooperate in agricultural development and adopt a common agricultural policy in addition to enhancing a food sufficient region. The most stunning geographical feature is the Victoria Falls, on the southern border with Zimbabwe, and is one of the natural wonders of the world. COMESA has a free trade area, with 19 member states, and launched a customs union in 2009. Tel: +260-211-220177 | +260-211-222858 United Republic of Tanzania, Zambia and Zimbabwe. Nine of the member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), … The President is the Head of State. Zambia is currently a member of the Common Market For Eastern And Southern Africa (COMESA) and the Southern Africa Development Community (SADC). They will have access to international arbitration and their investments will be guaranteed against expropriation and nationalization. Additionally, they are in a position of fostering cooperation in transport and communication among themselves; this facilitates the production of goods and services and movement of people. Benefits of the membership are realised at a political, an economic and developmental level. Also, the states have the benefit of recognizing the unique situation of countries like Namibia, Swaziland and Lesotho within the context of the Common Market and give temporary exemptions, as opposed to full application of specified provision in Article 3 of the COMESA treaty. Benefits of the membership are realised at a political, an economic and developmental level. Dominic Liche, a lecturer in the School of Humanities and Social Sciences at the University of Zambia, says both the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC) have good trade regimes that are of benefit to Zambia. A brief discussion of SACU and the CBI will follow. This plateau is a mix of woodland and savannah regions interspersed with lakes, rivers, hills, swamps and lush plains. E-mail:  info@zam.co.zm The tourism sector has consistently demonstrated growth due to a rich natural heritage, including great waterfalls, rivers, lakes, and a wealth of wildlife roaming in its vast sanctuaries. Benefits of COMESA Customs Union to the region The COMESA Customs Union was launched by the Heads of State and Government on 7 June 2009 in Victoria Falls , Zimbabwe . Progress in COMESA has been limited by country-level implementation problems while SADC has been hampered by complicated and restrictive rules of origin. ... Womba Mumbuluma, a small scale border trader at COMESA Market, Lusaka, Zambia … Nine of the member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), … There are seven main vernacular languages: Nyanja, Bemba, Tonga, Lozi, Luvale, Lunda and Kaonde, with more than 70 dialects spoken across the country. Zambia has 19 national parks, and 34 game management areas, some of the highlights are Luangwa and Kafue National Parks, Lower Zambezi National Park, Victoria Falls, Mosi-Oa-Tunya National Park and Lochinvar National Park. However, it did have a significant effect on investment. Consequently, the countries have the benefit of cooperating in agricultural research and extension, enhancing rural development and export of agricultural commodities. Zambia recently became a signatory to the COMESA-East African Community (EAC)- SADC Tripartite … Zambia is an entirely landlocked country covering an area of 752,612 km². In 1972, Zambia was declared a one party State, but reverted back to multi-party democracy in December 1990 and with general elections held in October 1991. Box 30819, Lusaka, Zambia A brief discussion of SACU and the CBI will follow. Website: http://www.zambiatourism.com, Copyright © 2021 Common Market for Eastern and Southern Africa (COMESA) Secretariat. INTRODUCTION Zambia is currently a member of the Common Market For Eastern And Southern Africa (COMESA) and the Southern Africa Development Community (SADC). COMESA states have the benefit of making regulations to facilitate movement of goods and services within the region and adopting a Third Party Vehicle Insurance Scheme. Thanks to the dedication and hard work of the National Organization Committee of the AGOA Forum in Togo, led by Mrs. Dede Ahoéfa Ekoue, the Lomé edition of the event was a great success. The warm wet season is from November to April and the cool dry season runs from May to August when temperatures range from 16 to 27 °C. Egypt has joined to COMESA since May 1998 in order to promote its economic relations with the rest of member states, especially the trade relations, so the aim of the paper is to assess COMESA regional integration efforts and to identify the most effective and important variables that determine trade intensity of Egypt with COMESA countries. According to the Article 46 of the treaty, member states have the advantage of enjoying non-tariff goods and services within the Common Market. During discussions on the study the Governors observed that poor coordination between fiscal and monetary policy was one The Common Market for Eastern and Southern Africa (COMESA) is the largest regional economic organization in Africa, with 19 member states and a population of about 390 million. The 16th edition of AGOA Forum sought to explore how countries can continue to maximise the benefits AGOA provides. Address: Privatization House Nasser Road, P. O. Zambia is also integrated within two free trade areas, the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), which holds trade benefits between member countries. Furthermore, member countries are in a position to establish conditions regulating the flow of goods from third party countries within the Common Market. Commercial fish production is approximately 70,000 tonnes per year. Zambia is a developing country and has achieved middle-income status in 2011. The FTA was achieved on 31st October, 2000 when nine of the member States namely Djibouti, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe eliminated their tariffs on COMESA originating products, in accordance with the tariff reduction schedule adopted in 1992.This followed a trade liberalisation programme that commenced in 1984 on reduction and eventual elimination of tariff and non-tariff barriers to intra- regional trade. Tel: +260 211 253696 zambian government outlines benefitts for zambia belonging to both sadc and comesa GOVERNMENT HAS OUTLINED A NUMBER BENEFITS WHICH THE COUNTRY IS GETTING FROM BEING A MEMBER OF THE COMMON MARKET FOR EAST AND SOUTHERN AFRICA (COMESA) AND THE SOUTHERN AFRICAN DEVELOPMENT COMMUNITY (SADC) BY STATING THAT THE TWO REGION BLOCKS HAVE OPENED MARKETS FOR ZAMBIAN … Zambia recently became a signatory to the COMESA-East African Community (EAC)- SADC Tripartite Free Trade Area (TFTA) Agreement on 17THJune, 2016. Danny Faure, Seychelles’ Vice President. Address: First Floor Petroda House, Corner of Kalembwe Close and Great East Road Zambia saw single-party rule from independence until 1973, … The duty Station will be at the COMESA Secretariat headquarters in Lusaka, Zambia. Website: http://www.zambiachamber.org, Zambia Association of Manufacturers His articles have been featured in the UNICEF (Sierra Leone) and BBC online publications. Fax: +260-211-225270 | To the north it is bordered by the Democratic Republic of Congo and the United Republic of Tanzania, to the west by Angola, to the south west by Namibia, to the east by Malawi and Mozambique, … Overlapping memberships have led STR overcomes problems in proving goods originate in a member country and therefore are not subject to duty. The project has been implemented by the Flemish Association for Development Cooperation and Technical Assistance (VVOB Zambia) in partnership with the Zambia Open Community Schools (ZOCS). The Common Market for Eastern and Southern Africa (COMESA) is a free trade area with twenty-one member states stretching from Tunisia to Eswatini.COMESA was formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Overlapping memberships have led 1.0 Introduction The 20th meeting of the COMESA Committee of Central Bank Governors held in Kinshasa, Congo (DR) from 26th to 27th November 2014 considered a study on “Empirical Assessment of the effectiveness of monetary policy in COMESA member countries”. E-mail:  info@zda.org.zm Zambia’s population is approximately 13,459,000 (latest census) and most of the people are African, with small Asian and European minorities. The bureau is set up within the General Directorate of Customs and From now on, goods imported from COMESA member countries will benefit from the Preferential Tariff on the basis of reciprocity when these goods meet the original criteria adopted by the COMESA FTA countries (see Decision No. One of the main benefits of COMESA and SADC WTO-related activities has been the engagement process they have generated. COMESA represents a chance for member countries to enhance their economic and social relations through increasing intra-trade. Address: Opposite the main arena next to the Show Society Botswana is not a member of COMESA and therefore can not make any direct comparison. The creation in June 2015 of a free trade area from Cape Town to Cairo is possibly the most significant event in Africa since the formation of the Organization of African Unity in 1963. Tel: +260 211 229087/90 COMESA was established when a treaty was signed on November 5, 1993, in Kampala, Uganda, and then ratified the following year in Lilongwe, Malawi, on December 8, 1994. The Common Market for Eastern and Southern Africa (COMESA) is a free trade area with twenty-one member states stretching from Tunisia to Eswatini.COMESA was formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Botswana is not a member of COMESA and therefore can not make any direct comparison. It is a grand move to merge existing regional organization into a single African Economic Community.The Tripartite Free Trade Area (TFTA) includes the 26 countries that are members of the Common Market … Overview: In 2018 Zambia was the number 105 economy in the world in terms of GDP (current US$), the number 83 in total exports, the number 108 in total imports, the number 158 economy in terms of GDP per capita (current US$) and the number 103 most complex economy according to the Economic Complexity Index (ECI) Exports: The top exports of Zambia are Raw Copper ($5.42B), Refined Copper … Additionally, they are in a position of fostering cooperation in transport and communication among themselves; this facilitates the production of goods and services and movement of people. Zambia x x x x x Zimbabwe x x x x x Source: Mayer and Thomas (1997: 330). Zambia’s manufacturing sector’s has continued to show signs of growth in recent years. Some of the benefits that the ‘COMESA investor and other foreign investors will receive under the Agreement are national and most favoured nation treatment. It is South Africa that refused to be a member of COMESA. Address: Financial Services Lane No. David holds a Master of Arts in international journalism from the University of Westminster, UK. The states enjoy custom exemptions on all imports of products originating in member countries with value additions amounting to 45 percent. As expected, the model shows that Zambia benefits the most from world trade liberalization. Through COMESA STR, the COMESA regional bloc encourages “free trade” by extending the benefits of a free trade area between countries by abolishing duty on all goods produced locally and sold in members of these regional groupings. They have agreed to promote integration via trade and to develop human and natural resources for the advantage of their citizens. Efforts to rationalise markets and best practice throughout the region can only enhance the current level of effectiveness of the organisation. Additionally, the members can harmonize their macroeconomic activities and remove the obstacles to the free movement of capital and services within the Common Market. As expected, the model shows that Zambia benefits the most from world trade liberalization. Its economic profile is summarized below: Zambia has been cited as one of the fastest growing economies in the region. Zambia is an entirely landlocked country covering an area of 752,612 km². Fax: +260-211-225270 Southern Africa (COMESA) and the Southern African Development Community (SADC) are implementing a free trade area and have plans to form customs unions. Southern Africa (COMESA) and the Southern African Development Community (SADC) are implementing a free trade area and have plans to form customs unions. #2 you are dataless, COMESA did not reject the membership of South Africa. The COMESA Yellow Card Scheme is currently operational in twelve COMESA Member Countries and one non COMESA member Country. The Countries in which the COMESA Yellow Card is recognized as a valid insurance cover are; Burundi, Democratic Republic of Congo, Djibouti, Eritrea, Ethiopia, Kenya, Malawi, Rwanda, Sudan, Tanzania, Uganda, Zambia and Zimbabwe. The successful applicants will also be required to undertake significant duty travel to COMESA Member States, the African Union, other Regional Economic Communities and any others identified in the line of duty. Zambia has three distinct seasons, the hot, dry season runs from September to October when temperatures range from 27 to 32 °C. A transitional period of three years was provided for during which time the Member States would align their national tariffs with the COMESA CET. David Shoo has professionally been writing since 2005. Zambia is richly endowed with various minerals such as copper, cobalt, gold and various precious stones including amethyst, blue stones, emeralds, etc. Dominic Liche, a lecturer in the School of Humanities and Social Sciences at the University of Zambia, says both the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC) have good trade regimes that are of benefit to Zambia. A multi-market model with Armington non-linear specification was applied. The Common Market for Eastern and Southern Africa (COMESA) is a regional economic integration grouping of African states. On the other hand, the findings of the analysis of COMESA programmes being implemented in Zambia revealed that Zambia largely benefits from COMESA, citing among others the infrastructure development of four of the five border posts shared by Zambia and its neighbours. TO ZAMBIA AND COMESA January – March 2016 benefit of Zambian children. 9th Floor Government ComplexLusaka, Zambia, Zambia Chamber of Commerce and Industry The objective of this paper is to assess the role of COMESA in promoting intra-regional agricultural trade between Sudan and COMESA countries. The member states are Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe. These are Mauritius, Madagascar, Zimbabwe, Egypt, Malawi, Rwanda, Burundi, Kenya, Djibouti, Zambia, Comoros and Libya. Website: http://www.zda.org.zm, Zambia Tourism Agency COMESA member states benefit from cooperation in the field of industrial development because the treaty provides stable investment opportunities. Progress in COMESA has been limited by country-level implementation problems while SADC has been hampered by complicated and restrictive rules of origin. In both Mauritius and Zambia support from COMESA and SADC has been useful, though limited. All rights reserved, Agriculture, Industry & Private Sector Development. English is the official language and is widely spoken throughout the country. Through the first decade of the 21st century, the economy of Zambia was one of the fastest growing economies in Africa and its capital, Lusaka the fastest growing city in the Southern African Development Community (SADC). On the other hand, the findings of the analysis of COMESA programmes being implemented in Zambia revealed that Zambia largely benefits from COMESA, citing among others the infrastructure development of four of the five border posts shared by Zambia and its neighbours. Other contributors to the economy are industry, fishing and agriculture. Many members apply reductions worth 100 percent. IMPLICATIONS – BENEFITS •1.WIDER MARKET - Economies of scale - Product diversity - Sectorial growth and employment creation SADC (excl.) COMESA accords members the advantage of adopting a regional policy that puts checks on all possible economic and social problems faced during the implementation of the treaty. Average annual rainfall is between 508 and1, 270mm. In addition, member states can simplify and harmonize their trade agreements and procedures. The documentary here accessible, briefly showcases the More information about Zambia is available on the Zambia Page and from other Department of State publications and other sources listed at the end of this fact sheet. Lusaka is the capital city and is believed to be the fastest growing city in Central Africa. Some members have eliminated or reduced their tariff barriers between the member countries as early as 2000. “Economic Integration and Development in Africa”; Henry Kyambalesa, et al. Zambia x x x x x Zimbabwe x x x x x Source: Mayer and Thomas (1997: 330). Its contribution to GDP has averaged 26 %. Fax: +260 211 225174 Malawi to benefit from K1 billion UK trade, Covid-19 support for southern Africa. To the north it is bordered by the Democratic Republic of Congo and the United Republic of Tanzania, to the west by Angola, to the south west by Namibia, to the east by Malawi and Mozambique, … At the end of 1999, four multilateral economic co -operation schemes were operating in Southern Africa: SADC, COMESA, SACU (Southern African Customs Union) and the CBI (Cross Bor der Initiative). Because of COMESA agreements, today Seychelles is exporting its tuna to Egypt and they are buying it duty free says Hon. A10, Showgrounds, Lusaka Zambia is presently the world’s fourth largest producer of copper and has around 6 % of the world’s known reserves. Rwanda to benefit from COMESA funds Rwanda will be compensated by the COMESA Compensation Fund, for the revenue loss to be incurred when it joins the East African Community (EAC) Customs Union next month. Zambia sits on a gently undulating plateau, which is between 900 and 1,500 metres above sea level. COMESA places the member states at an advantage of adopting a common custom scheme that abolishes non-tariff barriers to trade between themselves. Mining and quarrying account for a large proportion of Zambia’s merchandise exports and have traditionally contributed the largest proportion of the country’s total Gross Domestic Product (GDP). Fax: +260-211-253020 Furthermore, the states have the benefit of free movement of labor, services, persons, attraction of investors and the right of residence within the COMESA region. In addition to the national parks Zambia has beach resorts on Lake Tanganyika at Kasaba, Nkamba and Ndole bays, and Lake Kariba, a man-made lake. The maximum possible gains from free trade for Zambia are 2.8% of gross domestic product annually while the completion of COMESA and SADC free trade areas provides economy-wide benefits of 1.2% and 1.0% of GDP respectively. 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