Bujumbura, Burundi, October 28, 2024:

The Common Market for Eastern and Southern Africa (COMESA), Secretary General, Her Excellency Chileshe Mpundu Kapwepwe, has underscored COMESA’s intra-regional trade which has held steady at 14 billion United States Dollars over the past two years, despite broader economic fluctuations.

In her address, during the 17th High-Level COMESA Business Forum held today in Bujumbura, Burundi, under the theme: “Accelerating Regional Integration through the Development of Regional Value Chains in Climate-Resilient Agriculture, Mining, and Tourism”, highlighted that while intra-COMESA trade currently stands at 6%, there is ample opportunity to increase this figure by reducing trade barriers and enhancing regional cooperation.

“By consolidating our efforts, we can build more robust economies equipped to capitalize on regional and global market opportunities,” She stated.

H.E. Kapwepwe also applauded CBC’s efforts in promoting Digital Financial Inclusion (DFI) across the region, emphasizing the need for low-cost, interoperable digital financial services that support Micro, Small, and Medium Enterprises (MSMEs). She also highlighted the vast potential for tourism and mineral resource sectors within COMESA, advocating for value addition to mineral exports to maximize earnings and drive economic growth.

“COMESA Secretariat is working closely with CBC to promote the free movement of businesspersons in the COMESA region through gradual relaxation and eventual elimination of visa requirements within the COMESA region,” she noted.

Complementary to these integration efforts, Prime Minister of the Republic of Burundi His Excellency Gervais Ndirakobuca in addressing the Forum’s climate resilience goals,  emphasized the need for sustainable practices, citing climate change as a threat to regional economies and livelihoods.

The Prime Minister noted that the Business Forum provided an excellent platform to explore how to collectively develop COMESA’s regional value chains in agriculture, mining, and tourism.

In alignment, COMESA Business Council’s Board President, Mr. James Chimwanza stated that, as an engine for economic growth in COMESA, the Private sector, undisputedly has a pivotal role to play in driving the sustainable development agenda in the region.

The 17th COMESA Business Forum brings together leaders from government, industry, and business associations across the region and internationally to discuss strategies for a competitive business environment that benefits all COMESA Member States.