COMESA to establish common investment area

The 19-member Common Market for Eastern and Southern Africa (COMESA), the continent's largest economic bloc, is in the process of establishing a Common Investment Area (CIA) to harmonize investment policies, laws and regulations.

A regional investment agency has been set up in Egypt to coordinate the establishment of CIA, said COMESA acting Secretary General Sindiso Ngwenya Friday in Zambia's capital Lusaka.

Ngwenya said COMESA is working towards making cross border investment in the region a reality as it is pushing forward to establish the Customs Union in 2008.

Source: Xinhua