By Kondanani Chilimunthaka
On Thursday, 8th June, 2023, President Lazarus Chakwera told Common Market of Southern Africa (COMESA) Summit that external assaults and forces have made it tough for economies within the COMESA region to grow.
President Chakwera was speaking in Lusaka, Zambia during a day-long Summit for COMESA Heads of State and Government Officials which aimed at promoting economic integration among member states through green investment, value addition and tourism.
Chakwera who was attending the COMESA Summit for the first time, said there are two major reality challenges tormenting the region’s member states which need the block to move with speed on economic integration.
“The first of these realities is the devastating period we find ourselves in. Since 2017, ours has been a block of nations under multiple devastating assaults. In the six year period, we have had Cyclone Idai, Tropical storms Ana and Gombe, and Cyclone Freddy. In that same period we have suffered droughts, the effects of the war in Eastern Europe, and outbreaks such as Covid-19 and cholera.
These external assaults have compounded the devastation we were already under from historic systemic vulnerabilities, such as weak food systems, weak financial controls, weak health systems, weak public institutions, unsustainable debt levels, and international trade policies that disadvantage our economies. All of these factors have become the perfect storm that has left us as a block in a weak position in the context of global trade”. Said Malawi leader in his speech.
Further, Chakwera told the Summit in Lusaka that since ratification of African Continental Free Trade Area, there have been forces beyond the continent which have moved into the economic framework to the disadvantage of African countries.
However, President Chakwera said the challenges can be addressed if COMESA member states speed speed up on key pillars of economic integration including working together in sectors of Agriculture, Tourism, and Mining which he said Malawi has already adopted.
This year’s COMESA summit has been held under the theme “Economic Integration for a Thriving COMESA Anchored on Green investment, Value addition and Tourism”.
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