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Zimbabwe’s Tsvangirai Calls for Deeper Economic Integration
6 June 2009
Victoria Falls — AFRICAN economies require deeper levels of integration especially now when the world is facing its worst recession since 1930, Prime Minister Morgan Tsvangirai has said.
PM Tsvangirai said this while officially opening the Common Market for Eastern and Southern Africa Council of Ministers ahead of the launch of the Customs Union on Sunday.
He said smaller economies in Africa needed to be consolidated into a common regional or continental market. He said market integration would reduce dependence on small and individualised markets.
"Our countries need deeper levels of integration particularly at this time when the global recession is on the rampage and affecting different countries in different ways," he said.
"The need for market integration as a way of creating and maintaining bigger markets cannot be overemphasised."
"If large economies in America and Europe are seeking bigger markets by fostering regional integration, the smaller economies of Africa have an even greater need to come together in a regional and subsequently continental common market."
The launch of the Customs Union on Sunday -- when President Mugabe will officially take over the chairmanship of the bloc -- will be a milestone in the development of the Comesa region.
It is expected to give greater impetus to enhancing intra-regional trade.
PM Tsvangirai noted that intra-Africa trade represented less than five percent of total trade and the Comesa arrangement should lay the foundation for accelerated growth.
He challenged member-states to "faithfully and religiously" implement the Customs Union.
"We have agreed on timetables for the implementation of various integration measures and it is essential that we complete this process on time if our people are going to enjoy genuine and sustainable development in the foreseeable future."
The Prime Minister also urged Comesa countries to undertake policy reforms and institute measures necessary to encourage investment in the region while member countries crafted national policies that would complement the regional policies.
He said Zimbabwe was prepared to play its part by implementing the regional integration agenda.
PM Tsvangirai added that the formation of the inclusive Government laid the foundation to rebuild the economy and, as such, Comesa provided a firm framework within which such rebuilding can take place.
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