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Madagascar hosts COMESA summit

Madagascar hosts COMESA summit

Madagascar

The 19th summit of the Common Market for Eastern and Southern Africa is ongoing in Madagascar.

The inclusive industrialisation of Africa is at the centre of the Inter-Regional trade summit.

The theme was adopted in October last year by the bloc’s council of ministers.

Experts are also discussing the importance of peace and security in the common market.

Madagascar exports only about 3 percent of its products in the common market and has been campaigning to strengthen cooperation.

“The main goal is to assert ourselves more as a region and as a continent in economic globalisation where Africa is still struggling to impose itself with 2 percent market shares in the international market,” president of Madagascar, Hery Rajoanarimampianina said.

According to Kenya’s vice-president, William Ruto the participants have to double their exchange with other countries for a better industrialisation of the continent.

“The job is well catered for us as leaders of this continent and we must do what it takes, to ensure that we trade more with the world and we remove the lack of balance in trade between our continent and the rest of the world,“Kenyan vice-president William Ruto said.

Experts at COMESA say the common market will help in shaping the future in a global economy.

COMESA’s 2016 to 2020 strategic plan has already been adopted.

The ministers say it will help in the effective management of strategic initiatives and improved cooperation among all stakeholders.

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