COMESA (Common Market for Eastern and Southern Africa) | 2024-02-11

COMESA (Common Market for Eastern and Southern Africa)

-COMESA (Common Market for Eastern and Southern Africa) The Free Trade Area of the Integrated Community of the African Union: WHO and WHEN: COMESA is born in December 1994 to replace the former Preferential Trade Area (PTA). The organization Member State are BURUNDI, COMORO, Democratic Republic of CONGO, DJIBOUTI, EGYPT, ERITREA, ETHIOPIA, KENYA, LIBYA, MADAGASCAR, MALAWI, MAURITIUS, RWANDA, SEYCHELLES, SUDAN, SWAZILAND, UGANDA, ZAMBIA, ZIMBABWE WHAT: -Preferential Trade Area (PTA) with lower tariffs applied to intra-regional trade originating in member countries than to extra-regional trade - Free Trade Area (FTA), in which no tariffs are levied on goods from other Member States whilst each Member State applies its own regime of tariffs to goods imported from outside the region -Customs Union (CU) involving free trade amongst the member States but with a Common External Tariff (CET) according to which every Member State applies the same tariffs on goods from outside the region -Common Market (CM) with free movement of capital and labour, considerable harmonization of trade, exchange r