The Common Market of Eastern and Southern Africa (called COMESA) is a free trade organization and agreement currently in effect on the African continent. COMESA was established in 1994 but became a free trade area in 2000.
Members
The 19 member nations of COMESA include: Libya, Egypt, Sudan, Eritrea, Djibouti, Ethiopia, Kenya, Uganda, Burundi, DRC, Zambia, Malawi, Zimbabwe, Swaziland, Comoros, Mauritius, Madagascar, Seychelles and Rwanda. Former member nations include: Mozambique, Namibia, Tanzania, Lesotho and Angola.
Scope
The area comprising the Common Market of Eastern and Southern Africa has a population of more than 400 million people and represents a Gross Domestic Product (GDP) of more than $360 billion each year.
Future Plans
In 1992, COMESA approved a plan for a monetary union among the member nations with the creation of a single currency issued by a united central bank. The monetary union is to be in place by 2025.
