KAM pushes for deeper COMESA ties to unlock investment opportunities
Speaking at the 18th COMESA Business Forum and Exhibition KAM’s Vice Chairperson Hitesh Mediratta said they are more concerned with the deeper integration to ensure that the region is self-sustaining economically
The Kenya Association of Manufacturers (KAM) have called for a deeper COMESA region integration as it remains Kenya’s most strategic economic blocs and a vital source of raw materials.
According to the Kenya Association of Manufacturers (KAM) of the overall 40 per cent of the Kenyan export market in Africa, COMESA contributes 11 per cent being placed second after the East African Community (EAC) which leads at 30 per cent with the rest of Africa being 1 per cent.
Speaking at the 18th COMESA Business Forum and Exhibition KAM’s Vice Chairperson Hitesh Mediratta said they are more concerned with the deeper integration to ensure that the region is self-sustaining economically.
He called on the governments and Private sector to work on policies that align and remove the barriers that have been in place in order to unlock investment.
“COMESA presents immense opportunities for Kenya’s manufacturing sector, not just as a market, but as a partner in building a more integrated, self-sustaining regional economy. Stronger regional value chains, harmonized standards, and efficient trade facilitation are not aspirations, but necessities. To fully harness COMESA’s potential, governments, the private sector, and development partners must work together to remove barriers, align policies, and unlock investments that drive industrial growth,” he said.
This is even as Kenya and COMESA have urged for digital transformation and innovations to drive inclusive growth.
Deputy President Kithure Kindiki said that it is crucial to embrace digitalization as it is a driver of economic progression within COMESA.
Digital tools are enablers of innovation and competitiveness, they create a more diverse business environment, simplify the flow of goods and services, and reduce non-tariff barriers by modernizing customs and border procedures for seamless trade among COMESA member states,” he said.
“COMESA has developed robust digital tools that are revolutionizing regional trade and integration, from integrated border management systems and the Digital Yellow Card System to smart border technologies and the Regional Payment System, which is increasing transactional value across all 21 member states. Most recently, we launched the Electronic Certificate of Origin Program in Eswatini, Malawi, Zambia, and now in Kenya,” COMESA Secretary General Chileshe Mpundu Kapwepwe stated.
Themed “Leveraging Digitalization to Deepen Regional Value Chains for Sustainable and Inclusive Growth,” the forum has brought together Heads of State, policymakers, private sector leaders, and development partners to chart a new course for regional trade and integration.
The recommendations from the High-Level Business Forum will form part of the COMESA Business Declaration to be presented at the 24th Summit of COMESA Heads of State and Government.
