COMESA, EU seal 10m euro deal
THE European Union and COMESA have signed a 10 million euros financing agreement for the regional Enterprise competitiveness to support the private sector in the region.
Speaking during the signing ceremony yesterday, European Union Ambassador to Zambia and COMESA Alessandro Mariani said the programme was specifically to entail a much greater role of the private sector in implementation, alongside with some COMESA specialised institutions such as COMESA Business Council, Alliance for Commodity Trade for Eastern and Southern Africa, COMESA regional investment Authority, African leather and leather products institutions and Federation of National Association of Women in Business.
“In recent years, value chain development has become a key element of inclusive economic growth and export strategies in many countries of the region. This programme will contribute to increased interdependence amongst countries and people by enhancing production networks and, down the line, improving access to affordable products for citizens of the region,” Mr Mariani said.
Mr Mariani said there was no better example than the European Union to showcase the importance of global or regional value chains development and how this could trigger economic development.
“The three value chains that would be targeted under this project would be Horticulture, leather and leather products and Agro processing which were carefully selected in close consultation with COMESA and its member states.
"We believe that these present the biggest opportunities for participation of women and youth-led small and medium enterprises through development of strong partnership with large corporations in the upstream of the value chains,” Mr Mariani said
Speaking at the same function, COMESA secretary General Chileshe Kapwepwe said the trade grouping had continued to transform the regional economies in many ways by promoting trade and investment many other sectors.
Ms Kapwepwe said the European Union had been become the biggest development partner to COMESA.
“COMESA remains committed to efficiently manage these resources to ensure that the objective of all programmes supported by the EU are realised,” Ms Kapwepwe said.