President Hichilema Highlights COMESA’s Regional Integration Achievements at AU Mid-Year Coordination Meeting
His Excellency Hakainde Hichilema, President of the Republic of Zambia and Chairperson of the COMESA Authority, delivered a keynote address at the 6th Mid-Year Coordination Meeting of the African Union, Regional Economic Communities, and Regional Mechanisms.
The event, held in Accra, Ghana, was graced by prominent leaders including President Mohamed Ghazouani of Mauritania and host President Nana Addo Dankwa Akufo-Addo of Ghana.
President Hichilema expressed gratitude to the Ghanaian president for hosting the significant event. He congratulated President Ghazouani on his recent re-election, acknowledging the peaceful elections in Mauritania.
In his address, President Hichilema emphasized COMESA’s commitment to achieving a ‘Borderless COMESA’ for people, goods, and services. He reported that despite challenges like climate change, global inflation, and geopolitical tensions, the region saw a 5.7% increase in GDP in 2023.
“Over 21 million USD has been invested in trade facilitation programs across our member states, aimed at upgrading border post facilities, streamlining import and export procedures, and enhancing customs management systems,” Hichilema stated. He also highlighted a 63 million USD agreement with the European Union to support trade competitiveness, market access, and consumer safety.
The President commended the expansion of the Yellow Card Insurance Scheme and the Regional Customs Transit Guarantee Scheme, noting the increased demand for these trade facilitation instruments beyond COMESA’s borders.
He shared that the Tripartite Free Trade Area Agreement, involving COMESA, the East African Community (EAC), and the Southern African Development Community (SADC), has been ratified by 15 member states, surpassing the threshold for its implementation.
Agriculture remains central to COMESA’s integration efforts, with 5 billion USD mobilized for the COMESA EAC Horticulture Accelerator (CEHA). President Hichilema expressed optimism in doubling the horticultural industry’s value over the next five years.
In 2023, the African Trade and Investment Development Insurance (ATIDI) Company supported projects worth 9.6 billion USD across various sectors, while the Trade and Development Bank Group (TDG) reported a 10% growth in its loan portfolio to 7.1 billion USD, stimulating growth in 16 countries.
Addressing infrastructure and energy, Hichilema announced a 15 billion USD mobilization through the World Bank for sustainable energy access in Eastern and Southern Africa. The Zambia-Tanzania-Kenya (ZTK) Power Interconnector project is progressing, with the Kenyan section completed and discussions on the Zambian section underway.
Additionally, COMESA has secured 2.5 billion USD to promote digitization, benefiting over 180 million people by 2032.
Highlighting social integration, President Hichilema spoke on the empowerment of women and youth, referencing initiatives like the “50 Million African Women Speak” platform and youth participation in policy formulation.
Concluding his address, President Hichilema reaffirmed COMESA’s commitment to regional and continental integration. “We believe in the promise of a brighter, African-led future for all,” he stated, urging collective efforts to address key challenges, reduce trade restrictions, and enhance digitization.
