STRATEGIC PLAN FOR EAST, SOUTRHERN AFRICA APPROVED BY MINISTERS

The Council of Ministers of the Common Market for East and Southern Africa (COMESA) has adopted the sub-refional grouping's Medium Term Strategic Plan for 2016-2020.

The plan is expected to contribute to structural transformation of the economies of the COMESA member States to foster overall economic development of the member States through trade, investment and regional infrastructure development.

Ministers participating in the Council meeting noted that the MTSP has been aligned with the Treaty, the United Nations Sustainable Development Goals (SDGs) and the African Union's (AU) Agenda 2063.

"It will serve as a tool to provide clearer communication of priorities, more effective management of strategic initiatives and improved cooperation among all stakeholders pursuing these strategic objectives," the Ministers noted.

"The Strategic plan is a useful tool to engage strategic partners in the pursuit of regional integration to marshal both financial and non-financial resources. Further, the plan would provide a framework with which detailed annual work programmes and budgets would be developed."

Developed under the theme "In pursuit of Regional Economic Transformation and Development", the Plan identified nine Strategic Objectives to drive the regional integration agenda for the period 2016-2020.

These are; Strengthening Market Integration, Attracting Increased Investments, Strengthening Development of Economic Infrastructure, industrialization, Blue Economy, Gender and Social Development, Capacity Building and Regional and Secretariat Readiness.

The Ministers had met here Monday ahead of the COMESA summit of heads of state and government beginning Tuesday.

Source: NAM NEWS NETWORK.

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