Sunday, June 7, 2009

Mugabe Launches New Trade Pact

Victoria Falls - President Robert Mugabe on Sunday launched a new pact aimed at tearing down trade barriers across 19 African nations with appeals for external investors and an end to domestic conflicts.

The veteran leader took over as chair of the continent's largest trade bloc - home to 400 million people stretching from the southern Mediterranean to the Indian Ocean - and opened the customs union within their borders.

"Our message to investors worldwide and to those of our region is clear: we have a regional market for you, come to Comesa," said the 85-year-old, referring to the Common Market for Eastern and Southern Africa.

"To the whole world, we want to say...we are serious as a region."With a combined gross domestic product of $360bn, Comesa's members range from oil or tourist hotspots to some of the world's poorest and most conflict-torn nations.

The bloc comprises Burundi, Comoros, Djibouti, the Democratic Republic of Congo, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia and Zimbabwe.

Most have lifted visa restrictions on travel within the bloc.

* News 24