comesa_logo.gifIntra-Comesa trade was anticipated to generate US$15 billion  this year from US$12.3 billion of last year owing to several measures adopted by member countries towards boosting economic growth.

 The expanded COMESA market has been critical in boosting trade among member states with high hopes that with the on-going reforms in member countries, trade is set to increase tremendously.

In an interview recently with ZBC News, COMESA Deputy Executive Secretary, Mr Mahmood Mansoor said, Intra-Comesa trade has been affected by the world economic recession as member countries over dependent on commodities whose demand tumbled two years ago forcing the value of trade to decline from US$15 billion in 2008 to US$12.3 billion.

The growth of the trade value is expected to be pushed by the reforms such as the coming into effect of the COMESA clearing house, the one stop shop investment centre adopted by various member countries as well as the improvement in economic performance among other reforms.

In 2008, the bloc’s total trade with the rest of the world declined by 20% from US$301 billion  to US$241 billion in 2009 due to the  tumbling demand in commodities such as tea and copper in Europe and the Americas hence the call for member states to diversify their economies.