EU, COMESA sign $40M trade deal

LUSAKA, Zambia

The European Union and the Common Market for Eastern and Southern Africa (COMESA) have signed a $40 million financing agreement to boost trade competitiveness and market access in the 21-member bloc.

Speaking during the signing ceremony and credential presentation to COMESA Secretary General Chileshe Kapwepwe in the Zambian capital Lusaka on Tuesday, EU Ambassador to Zambia Karolina Stasiak called for the region to promote fair trade in light of prevailing global economic hurdles.

“We need to green our economies, make local, regional and global value chains more circular, and significantly reduce the negative impact of our economies on climate,” Stasiak said.

Kapwepwe said the financing agreement was a timely step in propelling COMESA’s agenda for regional integration through trade and investment.

She said the EU remained COMESA’s biggest development partner and has played a pivotal role in supporting COMESA’s regional integration efforts.