The Common Market for Eastern and Southern Africa (COMESA) on Wednesday launched the COMESA Source 21 Business Facilitation Handbook to provide market information and investment for its members.
Amany Asfour, immediate past chairperson of COMESA Business Council, told a regional forum in Nairobi that access to information across African economies has been hindered by the fragmented nature of respective national markets.
“The handbook is the first step in combating lack of knowledge in the region and limited access to trade information in order to promote cross-border trade,” said Asfour in Nairobi.
The report details the amount of imports and exports that each member conducts within the trading bloc.
“The business facilitation handbook will act as a tool to provide businesses with data that can inform their transaction and logistical costs while trading certain products in the region or looking to engage in partnerships within COMESA,” said Asfour.
She decried the low level of value addition in the region, adding that regional economies will prosper once processing and value addition of raw materials takes root.
COMESA is a regional economic organization in Africa with 21 members.