At the 23rd COMESA Summit in Burundi, Zambian President Hakainde Hichilema reported substantial progress and growth within the Common Market for Eastern and Southern Africa (COMESA) region, spotlighting an impressive 120% increase in total exports from COMESA nations to global markets. These exports surged from $100 billion in 2022 to $219 billion in 2023, a substantial leap that underscores the region’s growing global trade influence. President Hichilema attributed part of this success to improved policy measures and a commitment to fostering economic collaboration within the bloc.
President Hichilema also noted a 40% boost in intra-COMESA trade, with exports between member states increasing from $10 billion in 2020 to $14 billion in 2023. This rise in intra-regional trade underscores COMESA’s strengthened market integration and its positive impact on member economies. Emphasizing the importance of maintaining and further enhancing these trade relations, Hichilema encouraged member states to leverage this momentum to deepen economic ties and optimize the benefits of regional integration.
Further developments included the ongoing progress of the Zambia-Tanzania Interconnector power corridor, which aims to improve regional energy distribution and boost access to power across the region. However, he acknowledged that Zambia faces delays due to historical infrastructure challenges but reiterated the government’s commitment to addressing these issues to ensure the project’s successful completion.
Hichilema’s statements reflect a broader call for sustained regional cooperation and a forward-looking vision for economic growth within the COMESA region. The President urged all member states to continue working together to solidify COMESA’s role as a powerful economic entity within the global market, focusing on the critical sectors of trade and infrastructure to unlock the region’s full potential.
By Best Jere