Craig Harris, the bank’s former principal economist, southern region, said the customs union would present both opportunities and threats to local companies and urged the government and local firms to do more to prepare to take part.
Speaking at a stakeholders meeting organized by the Zimbabwe Centre for Business Economics, Harris said the government had an obligation to disseminate more information about COMESA and the customs union.
Government needs to juggle the need to protect local businesses from competition with ensuring that the interests of consumers are served.
On a positive note Harris said expanding into the COMESA region would provide local firms with alternative markets of more than 200 million people, which would be attractive to investors.
“We need to diversify and start spreading into COMESA as there is a bigger market for local products,” he said.
Post published in: Business