Zambia is an entirely landlocked country covering an area of 752,612 km². Tel: +260 211 229087/90 A brief discussion of SACU and the CBI will follow. Zambia is a member of the COMESA (Common Market for Eastern and Southern Africa), and the Southern African Development Community (SADC). 1.0 Introduction The 20th meeting of the COMESA Committee of Central Bank Governors held in Kinshasa, Congo (DR) from 26th to 27th November 2014 considered a study on “Empirical Assessment of the effectiveness of monetary policy in COMESA member countries”. Its contribution to GDP has averaged 26 %. The project has been implemented by the Flemish Association for Development Cooperation and Technical Assistance (VVOB Zambia) in partnership with the Zambia Open Community Schools (ZOCS). Zambia has three distinct seasons, the hot, dry season runs from September to October when temperatures range from 27 to 32 °C. and SADC and COMESA (dual) are third and fourth largest export markets for Zambia, respectively. Some of the benefits that the ‘COMESA investor and other foreign investors will receive under the Agreement are national and most favoured nation treatment. COMESA was established when a treaty was signed on November 5, 1993, in Kampala, Uganda, and then ratified the following year in Lilongwe, Malawi, on December 8, 1994. Copyright 2021 Leaf Group Ltd. / Leaf Group Media, All Rights Reserved. On the other hand, the findings of the analysis of COMESA programmes being implemented in Zambia revealed that Zambia largely benefits from COMESA, citing among others the infrastructure development of four of the five border posts shared by Zambia and its neighbours. United Republic of Tanzania, Zambia and Zimbabwe. They have agreed to promote integration via trade and to develop human and natural resources for the advantage of their citizens. U.S.-ZAMBIA RELATIONS The United States established diplomatic relations with Zambia in 1964, following its independence from the United Kingdom. Zambia is also integrated within two free trade areas, the Southern African Development Community (SADC) and the Common Market for Eastern and Southern Africa (COMESA), which holds trade benefits between member countries. Furthermore, the states have the benefit of free movement of labor, services, persons, attraction of investors and the right of residence within the COMESA region. STR overcomes problems in proving goods originate in a member country and therefore are not subject to duty. Botswana is not a member of COMESA and therefore can not make any direct comparison. To the north it is bordered by the Democratic Republic of Congo and the United Republic of Tanzania, to the west by Angola, to the south west by Namibia, to the east by Malawi and Mozambique, … Zambia recently became a signatory to the COMESA-East African Community (EAC)- SADC Tripartite Free Trade Area (TFTA) Agreement on 17THJune, 2016. A brief discussion of SACU and the CBI will follow. Zambia is an entirely landlocked country covering an area of 752,612 km². More information about Zambia is available on the Zambia Page and from other Department of State publications and other sources listed at the end of this fact sheet. The Common Market for Eastern and Southern Africa (COMESA) is a regional economic integration grouping of African states. E-mail: marketing@zambia.travel The tourism sector has consistently demonstrated growth due to a rich natural heritage, including great waterfalls, rivers, lakes, and a wealth of wildlife roaming in its vast sanctuaries. The rest apply partial cuts. The Common Market for Eastern and Southern Africa (COMESA) is a free trade area with twenty-one member states stretching from Tunisia to Eswatini.COMESA was formed in December 1994, replacing a Preferential Trade Area which had existed since 1981. Nine of the member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), … Dominic Liche, a lecturer in the School of Humanities and Social Sciences at the University of Zambia, says both the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC) have good trade regimes that are of benefit to Zambia. In addition to the national parks Zambia has beach resorts on Lake Tanganyika at Kasaba, Nkamba and Ndole bays, and Lake Kariba, a man-made lake. To the north it is bordered by the Democratic Republic of Congo and the United Republic of Tanzania, to the west by Angola, to the south west by Namibia, to the east by Malawi and Mozambique, … Commercial fish production is approximately 70,000 tonnes per year. The Common Market for Eastern and Southern Africa (COMESA) is the largest regional economic organization in Africa, with 19 member states and a population of about 390 million. Other contributors to the economy are industry, fishing and agriculture. Zambia’s manufacturing sector’s has continued to show signs of growth in recent years. E-mail: info@zda.org.zm Additionally, they are in a position of fostering cooperation in transport and communication among themselves; this facilitates the production of goods and services and movement of people. All rights reserved, Agriculture, Industry & Private Sector Development. Website: http://www.zam.co.zm, Zambia Development Agency IMPLICATIONS – BENEFITS •1.WIDER MARKET - Economies of scale - Product diversity - Sectorial growth and employment creation SADC (excl.) Zambia x x x x x Zimbabwe x x x x x Source: Mayer and Thomas (1997: 330). COMESA member states benefit from cooperation in the field of industrial development because the treaty provides stable investment opportunities. Fax: +260-211-253020 Zambia’s manufactured export products include engineering products, textiles, building materials, processed foods, animal products, and leather products. The member states are Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe. Lusaka is the capital city and is believed to be the fastest growing city in Central Africa. Danny Faure, Seychelles’ Vice President. The President is the Head of State. COMESA: Introduction The Common Market for Eastern and Southern Africa (COMESA) is a free trade area that encompasses 19 countries stretching from Libya to Zimbabwe. COMESA has a free trade area, with 19 member states, and launched a customs union in 2009. COMESA promotes member cooperation in financial and monetary matters and establishes convertibility of their currencies through the Common Monetary Union. Malawi to benefit from K1 billion UK trade, Covid-19 support for southern Africa. zambian government outlines benefitts for zambia belonging to both sadc and comesa GOVERNMENT HAS OUTLINED A NUMBER BENEFITS WHICH THE COUNTRY IS GETTING FROM BEING A MEMBER OF THE COMMON MARKET FOR EAST AND SOUTHERN AFRICA (COMESA) AND THE SOUTHERN AFRICAN DEVELOPMENT COMMUNITY (SADC) BY STATING THAT THE TWO REGION BLOCKS HAVE OPENED MARKETS FOR ZAMBIAN … 9th Floor Government ComplexLusaka, Zambia, Zambia Chamber of Commerce and Industry In the field of agriculture, the member states can easily cooperate in agricultural development and adopt a common agricultural policy in addition to enhancing a food sufficient region. E-mail: info@zda.org.zm The FTA was achieved on 31st October, 2000 when nine of the member States namely Djibouti, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe eliminated their tariffs on COMESA originating products, in accordance with the tariff reduction schedule adopted in 1992.This followed a trade liberalisation programme that commenced in 1984 on reduction and eventual elimination of tariff and non-tariff barriers to intra- regional trade. According to the Article 46 of the treaty, member states have the advantage of enjoying non-tariff goods and services within the Common Market. The successful applicants will also be required to undertake significant duty travel to COMESA Member States, the African Union, other Regional Economic Communities and any others identified in the line of duty. Additionally, the members can harmonize their macroeconomic activities and remove the obstacles to the free movement of capital and services within the Common Market. Website: http://www.zambiachamber.org, Zambia Association of Manufacturers It is South Africa that refused to be a member of COMESA. ; 2006, International Monetary Fund; COMESA and SADC: Prospects and Challenges for Regional...; Padamja Khandelwal, Economic Commission for Africa; Economic Report on Africa 2002: Tracking Performance and Progress. Address Privatization House “Economic Integration and Development in Africa”; Henry Kyambalesa, et al. INTRODUCTION Zambia is currently a member of the Common Market For Eastern And Southern Africa (COMESA) and the Southern Africa Development Community (SADC). The COMESA Yellow Card Scheme is currently operational in twelve COMESA Member Countries and one non COMESA member Country. Address: Opposite the main arena next to the Show Society A10, Showgrounds, Lusaka Address: Financial Services Lane No. Zambia has 19 national parks, and 34 game management areas, some of the highlights are Luangwa and Kafue National Parks, Lower Zambezi National Park, Victoria Falls, Mosi-Oa-Tunya National Park and Lochinvar National Park. Some members have eliminated or reduced their tariff barriers between the member countries as early as 2000. Fax: +260-211-225270 | COMESA states have the benefit of making regulations to facilitate movement of goods and services within the region and adopting a Third Party Vehicle Insurance Scheme. Overlapping memberships have led Tel: +260-211-220177 | +260-211-222858 Member states have the advantage of providing high quality goods and services in the Common Market because COMESA treaty recommends elimination of rigidities in manufacturing and production. TO ZAMBIA AND COMESA January – March 2016 benefit of Zambian children. There are seven main vernacular languages: Nyanja, Bemba, Tonga, Lozi, Luvale, Lunda and Kaonde, with more than 70 dialects spoken across the country. Address: First Floor Petroda House, Corner of Kalembwe Close and Great East Road In both Mauritius and Zambia support from COMESA and SADC has been useful, though limited. Because of COMESA agreements, today Seychelles is exporting its tuna to Egypt and they are buying it duty free says Hon. Overview: In 2018 Zambia was the number 105 economy in the world in terms of GDP (current US$), the number 83 in total exports, the number 108 in total imports, the number 158 economy in terms of GDP per capita (current US$) and the number 103 most complex economy according to the Economic Complexity Index (ECI) Exports: The top exports of Zambia are Raw Copper ($5.42B), Refined Copper … David Shoo has professionally been writing since 2005. Zambia saw single-party rule from independence until 1973, … Progress in COMESA has been limited by country-level implementation problems while SADC has been hampered by complicated and restrictive rules of origin. The maximum possible gains from free trade for Zambia are 2.8% of gross domestic product annually while the completion of COMESA and SADC free trade areas provides economy-wide benefits of 1.2% and 1.0% of GDP respectively. Mining and quarrying account for a large proportion of Zambia’s merchandise exports and have traditionally contributed the largest proportion of the country’s total Gross Domestic Product (GDP). Rwanda to benefit from COMESA funds Rwanda will be compensated by the COMESA Compensation Fund, for the revenue loss to be incurred when it joins the East African Community (EAC) Customs Union next month. Website: http://www.zambiatourism.com, Copyright © 2021 Common Market for Eastern and Southern Africa (COMESA) Secretariat. Current Status. Southern Africa (COMESA) and the Southern African Development Community (SADC) are implementing a free trade area and have plans to form customs unions. Botswana is not a member of COMESA and therefore can not make any direct comparison. Zambia is presently the world’s fourth largest producer of copper and has around 6 % of the world’s known reserves. COMESA states have the benefit of making regulations to facilitate movement of goods and services within the region and adopting a Third Party Vehicle Insurance Scheme. Dominic Liche, a lecturer in the School of Humanities and Social Sciences at the University of Zambia, says both the Common Market for Eastern and Southern Africa (COMESA) and the Southern Africa Development Community (SADC) have good trade regimes that are of benefit to Zambia. Fax: +260 211 225174 As expected, the model shows that Zambia benefits the most from world trade liberalization. Nine of the member states formed a free trade area in 2000 (Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe), … The most stunning geographical feature is the Victoria Falls, on the southern border with Zimbabwe, and is one of the natural wonders of the world. Benefits of COMESA Customs Union to the region The COMESA Customs Union was launched by the Heads of State and Government on 7 June 2009 in Victoria Falls , Zimbabwe . At the end of 1999, four multilateral economic co -operation schemes were operating in Southern Africa: SADC, COMESA, SACU (Southern African Customs Union) and the CBI (Cross Bor der Initiative). In 1972, Zambia was declared a one party State, but reverted back to multi-party democracy in December 1990 and with general elections held in October 1991. A transitional period of three years was provided for during which time the Member States would align their national tariffs with the COMESA CET. COMESA accords members the advantage of adopting a regional policy that puts checks on all possible economic and social problems faced during the implementation of the treaty. Overlapping memberships have led One of the main benefits of COMESA and SADC WTO-related activities has been the engagement process they have generated.
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