Egypt to take part in COMESA summit for the first time
Egypt, Economics, 5/11/1999

For the first time Egypt is going to take part in the meeting of the fourth summit of the COMESA organization, an economic assembly of southern and eastern African countries, which is to begin its works in Nairobi on May 24.

This was after Egypt was granted COMESA membership at the previous summit. Egypt will present a number of proposals and work papers on the raised subjects on the summit's agenda that aim at establishing a mutual market between the member states, 21 countries that will begin the establishment of a free trade zone on the year 2000.

Egyptian Assistant Foreign Minister for African Affairs Ibrahim Ali Hassan said the summit will be preceded by a foreign ministers' meeting on May 20 - 22 and a meeting of high-powered officials in the governmental committee of the organization on May 16 - 18, adding that the most important subject on the summit's agenda is the report of the second meeting of financial ministers in the COMESA countries, that tackles the idea of establishing a regional agency for serving exports and presenting facilities to exporters and commercial banks.

Moreover they will discuss coordination between the COMESA countries through a specified program and facilitating the limits of trade between the organization's countries.

The summit's agenda moreover includes the setting for staring the free trade zone on 2000, and the canceling of customs between COMESA countries. In this respect the summit will discuss the report of the seventh meeting of the COMESA committee concerning the topics of trade, customs and the position of the countries toward applying customs reductions aimed at activating trade.

Hassan added that the COMESA summit will discuss the establishment of a data network to provide the information required for enhancing trade between the COMESA countries.

He said a large trade fair will be held on the margin of the summit in which Egypt participates with a wing including 160 Egyptian businessmen.

Previous Stories:
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