Policy & Advocacy COMESA Investment Promotion
COMESA Investment PromotionCOMESA Investment program looks at promoting an environment that is conducive for investment in the COMESA Member states.
COMESA Common Investment Area (CCIA)The COMESA Authority of Heads of State and Government in 2007 adopted the Investment Agreement for the COMESA Common Investment Area (CCIA). The CCIA Agreement seeks to create a stable region and good investment environment, promote cross border investments and protect investment, and thus enhance the region’s attractiveness and competitiveness intra- COMESA region, as a destination for Foreign Direct Investment (FDI), and in which domestic investments are encouraged.
The key features contained in the COMESA Investment Agreement for the CCIA include:
- Investment and investor protection from expropriation and any other measure having similar effect;
- Setting up standard for national treatment and Most-Favored Nation (MFN) status for COMESA investors;
- Investment liberalization by removal of conditions on foreign investors (taking into account issues such as protection of infant industries, food security, public health...)
- Right for a State party to regulate in the public interest;
- Corporate responsibility;
- Harmonization of investment policies;
- Arbitration option including existing fora for the settlement of investment disputes (e.g. COMESA Court of Justice, ICSID).
COMESA Model Double Taxation Agreements (DTAs)COMESA has developed a Model Double Taxation Agreement based on the OECD and UN Models, taking into consideration existing cooperation modalities among COMESA Member States, information exchange and the fight against fiscal evasion. The Model avoids the incidence of double taxation and also addresses the issue of transfer pricing concerns. The COMESA Model DTA is a negotiation fiscal tool for Member States that can be used to negotiate a double taxation agreement with a third party country or among them.
Business Environment – Policy ReformsCOMESA Business Survey and other policy harmonization activities look into the investment climate in most of the Member States, propose areas of improvement or reform and adopt strategies efforts to improve their business climate.