Zimbabwean President Emmerson Mnangagwa on Thursday assumed the chairmanship of the Common Market for Eastern and Southern Africa (COMESA), pledging to work with member states to deepen economic integration through value addition, industrialisation and stronger regional value chains.
Mnangagwa took over the leadership of the 21-member regional bloc from Kenyan President William Ruto during the 25th COMESA Heads of State and Government Summit held in Harare.
Accepting the chairmanship, Mnangagwa said Zimbabwe would prioritise measures aimed at accelerating economic transformation and expanding intra-regional trade.
“During Zimbabwe’s chairmanship, we aim to work with member states towards fast-tracking value addition and beneficiation as well as inclusive industrialisation, and greater participation in regional value chains,” he said.
He said the bloc should intensify cooperation to promote simplified trade regimes, unlock financing for regional infrastructure and development projects, and build resilience in agriculture against climate-related shocks.
Mnangagwa’s remarks come as African regional economic communities seek to boost intra-African trade and industrialisation under the African Continental Free Trade Area amid growing calls for stronger domestic value addition and manufacturing capacity across the continent.
COMESA is Africa’s largest regional economic community by membership, bringing together 21 countries across eastern and southern Africa with a combined population of more than 600 million people.
Established in 1994 as a successor to the Preferential Trade Area for Eastern and Southern African States, the bloc seeks to promote regional economic integration through trade and investment cooperation, infrastructure development and policy harmonisation.
The organisation operates a Free Trade Area covering most of its member states and has pursued programmes aimed at facilitating cross-border trade, improving transport and logistics connectivity, and strengthening regional competitiveness.
The summit also marked a significant institutional milestone for the bloc after Zambian President Hakainde Hichilema, who was elected COMESA vice chairperson, formally handed over the title deed for 14 hectares of land in Lusaka designated for the organisation’s future permanent headquarters.
The land allocation fulfils Zambia’s host agreement commitments and advances a project that has been under discussion for decades, providing a permanent home for the regional body.
In his address to the summit, Hichilema urged African countries to mobilise domestic resources and invest more in their own economies rather than relying heavily on external capital.
“Let’s invest together. Let’s produce together. Let’s remove the stereotype mentality that investment comes from Europe, that capital should come from America,” he said.
The summit brought together heads of state and government, ministers and senior officials from across the COMESA region to discuss regional trade, industrialisation, infrastructure development and economic integration priorities.
JN/APA