Africa’s biggest trading bloc, COMESA, has signed a financing agreement with the European Union (EU) aimed at enhancing trade facilitation between Zambia and Malawi, a state-run news agency reported on Wednesday.
The four-year 13.5 million euros agreement, signed in eastern Zambia’s Chipata town, was meant to contribute to infrastructure development, improved trade, private sector development, among others at border entries of the two countries, according to the Zambia News and Information Service.
Alessandro Mariani, the head of the EU delegation in Zambia, said at the signing ceremony that the funds were part of a total envelop of 85 million euros allocated to the Common Market for Eastern and Southern Africa (COMESA) for development programs in Zambia and Malawi, which also includes good governance and the fight against climate change.
Sindiso Ngwenya, the Secretary-General of COMESA said cross border innovation plays a critical role in trade integration in the region but noted that there was need for governments to engage cross-border traders in the decision-making process for smooth implementation of policies.
Source: Xinhuanet