Comesa/Gulf region to co-operate

BULAWAYO The Common Market for East and Southern Africa and the Gulf Cooperation Council (GCC) have signed a Memorandum of Understanding (MOU) that seeks to promote co-operation between the two regions.

The MOU was signed by COMESA Secretary General Sindiso Ngwenya and GCC Secretary General Abdulrahman Hamad Al-Attiyah. Ngwenya said it would provide a framework for co-operation between the parties which will facilitate the joint implementation of programmes, projects and activities mutually agreed and spelt out in supplementary agreements specific to each joint programme, project or activity.

Much of the COMESA energy for example comes from the GCC region. Our region does not have adequate savings, GCC region has adequate savings, therefore for us we see opportunities not necessarily from the governments but from the private sector in investing in value addition in Africa, said Ngwenya. As we sign an MOU today our people are already working together. In the next 15 years I can foresee COMESA-GCC cooperation becoming a global player, he added.

Al-Attiyah, applauded COMESAs efforts in enhancing economic integration of its member states through the adoption of gradual macroeconomic policies and programmes, improving the investment climate and raising the living standards of its people.

Post published in: Economy

Leave a Reply

Your email address will not be published. Required fields are marked *