Mubarak to address sixth COMESA summit Tuesday
Egypt-Regional, Politics, 5/17/2001

Egyptian President Hosni Mubarak will address the opening session of the sixth summit of the Common Market for Eastern and Southern Africa (COMESA) to open in Cairo on Tuesday under the slogan: "The free trade zone, a surge towards investment".

At the start of the opening session, President Mubarak will be handed over the session's chairmanship from Mauritius, the current COMESA Chairman.

Assistant Foreign Minister for African Affairs Ambassador Ibrahim Ali Hassan Wednesday said that the African leaders will review, at their two-day summit, achievements made in the free trade zone since its establishment on October 31, 2001.

Ten out of the 22-member COMESA states have joined the Free Trade Zone, namely Egypt, Sudan, Kenya, Zimbabwe, Zambia, Mauritius, Djibouti, Madagascar, the Comoro Islands and Seychelles.

"Namibia and Swaziland are to loin soon. The sixth COMESA summit acquires special importance, being the first summit to take place after an accord for the establishment of the bloc's free trade zone has been put into effect on October 31," Ambassador Ali Hassan said.

"It will be preceded by a number of preparatory meetings, on high officials and foreign and economic ministerial level," he added. "The conference of COMESA foreign and economic ministers will be held on Sunday," he said.

"On May 21, a mini-economic forum will convene to examine how to attract investments into COMESA states, especially in the pharmaceutical, constructions, IT and communications domains," he added. "Businessmen from COMESA member states and some representatives of European, American and Asian institutions will also be present," he said.

Egyptian Ambassador to Zambia and representative to COMESA Abdel Ghaffar el Dib said he will chair Wednesday a meeting of the administration and budget committee to activate the COMESA's internal performance and relations among its various agencies.

The Secretary-General of the Common Market for Eastern and Southern Africa said Wednesday that Egypt's joining of the gathering had a positive impact on its activities within the past three years.

Addressing the 11th budget and administration committee meeting, Arestos Monicha praised Egypt which, he said, had taken long strides in order to be an effective member in the 16-year-old group.

"Egypt was one of the leading ten COMESA member states which contributed to the formation of a free-trade zone last October," he added.

COMESA's Secretary-General said that active cooperation among COMESA's member countries in the various domains was behind its success in boosting trade and cultural exchange.

Moreover he said that (COMESA) Summit in Cairo is to shape the future of bloc's 20 members in the face of the new global system and the challenges of globalization, the chief of COMESA said.

"The formation of a COMESA free trade zone will top the agenda of the summit, slated for Tuesday and Wednesday, as conferees will examine ways of turning the idea into reality in the nearest possible future," COMESA Secretary General Erastus Mwencha told MENA Wednesday.

"Other issues of interest on the agenda of the two-day summit is cooperation among COMESA members in small and medium projects to propel their economies towards growth, create job opportunities, modernize the production systems and realize higher revenues," Mwencha said.

"The COMESA Ministerial Council has stressed at earlier meetings, the need for cooperation in the sphere of small and medium projects, examined prospects for supporting these projects and the transfer of technology and expertise among member states," he added.

He affirmed the important role Egypt plays in transferring expertise in the sphere of the promotion of small and medium projects for COME SA members.

"COMESA members are aware of the gains of such projects on the economic and social level as they help increase trade activity among its members and boost their members' integration efforts," he said.

"The agreement reached by the group's members to form a network for small and medium projects will multiply the chances for cooperation and will contribute to the activation of the COMESA free trade zone agreement," he added.

The establishment of the COMESA free trade zone has gone into effect in October with the participation of 10 out the 20 members. Economy and Foreign Trade Minister will open on Thursday the preparatory meetings for the Common Market for Eastern and Southern Africa (COMESA)'s summit.

The meetings aim at discussing the issues and reports that will be submitted to the COMESA summit regarding a number of programs, including trade, financial affairs, investment promotion, infrastructure development and the private sector.

Previous Stories:
  Mubarak to open COMESA Summit on May 22   (5/12/2001)
  Opening the economic summit COMESA on Monday   (2/25/2000)
  Annual meetings for the African Development Bank in Cairo   (5/20/1999)

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