Common Market for Eastern and Southern Africa
About
The history of COMESA began in December 1994 when it was formed to replace the former Preferential Trade Area (PTA) which had existed from the earlier days of 1981. COMESA (as defined by its Treaty) was established ‘as an organisation of free independent sovereign states which have agreed to co-operate in developing their natural and human resources for the good of all their people’ and as such it has a wide-ranging series of objectives which necessarily include in its priorities the promotion of peace and security in the region. However, due to COMESA’s economic history and background its main focus is on the formation of a large economic and trading unit that is capable of overcoming some of the barriers that are faced by individual states.. COMESA’s current strategy can thus be summed up in the phrase ‘economic prosperity through regional integration’. With its 21 Member States, population of over 583 million a Gross Domestic Product of $805 billion, a global export/import trade in goods worth US$ 324 billion, COMESA forms a major market place for both internal and external trading. Geographically, COMESA almost two thirds of the African Continent with an area of 12 Million (sq km).
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