Oliver Kazunga, Senior Business Reporter
THE value of trade within the Common
Market for Eastern and Southern Africa (Comesa) declined by 11 percent to US$9,7 billion last year due to Covid-19 pandemic and pre-existing factors.
According to an update presented at the ongoing 37th meeting of Comesa Trade and Customs Committee, which ends tommorow, the trading bloc said: “The value of Intra-Comesa total exports declined by 11 percent from US$10,9 billion in 2019 to US$9,7 billion in 2020.
“The low performance was attributed to the impacts of Covid-19 pandemic and pre-existing factors such as supply-side challenges and prevalence of Non-Tariff Barriers (NTBs).”
The low intra-regional trade resulted from existing gaps in information availability on trading opportunities, regulatory requirements in markets and factors that inform business decisions on production of goods and trade.
The meeting brings together trade and customs experts representing governments from the 21 member States and will deliberate on issues that affect regional trade and integration. – @okazunga