The COMESA Business Council (CBC) and the Corporate Council on Africa (CCA) strengthened their working alliance by renewing their Memorandum of Understanding (MoU), which sets out how they will enhance regional integration and cooperate in areas of trade promotion and private sector development.
â€œOver the years we have worked well together to promote regional trade,â€ said Dr. Amany Asfour, CBC Chairperson. â€œThe renewal of this collaboration will not only ensure that we maintain close contact with each other but it will also facilitate exchange of information on policies and procedures relating to trade, industry, agriculture, infrastructure and investment.â€
The MoU which is valid for a period of three years was signed during the Corporate Council on Africa’s 10th biennial U.S.-Africa Business Summit held in Addis, Ethiopia on 4th February 2016. It details how the parties will cooperate by ensuring that there is a continuous and sustainable process in the sharing of lessons and experiences in establishing, strengthening and harmonizing the role of the private sector.
Additionally, both parties will work together by developing common programs, facilitating trade and investment as well as promoting measures to augment transfer of technology and investment.
The summit brought together business representatives, government officials, entrepreneurs, investors, decision-makers and managers, from all over Africa, the United States and beyond, to discuss possible partnerships, setting new goals and expanding businesses. COMESA was represented by Mr. Sindiso Ngwenya, COMESAâ€™s Secretary General, Mr. Walter Talma, USAID Coordinator, Mr. Thiery Kalonji, the Director of Industry and Agriculture, Dr. Amany Asfour, CBC Chairperson as well as MS. Sandra Uwera, CBCâ€™s Chief Executive Officer.
It is expected that the cooperation between the two parties will help enhance trade facilitation initiatives such as facilitating the exchange of business delegations and their participation in trade fairs and exhibitions. The cooperation is further expected to establish linkages between COMESA business associations and the chambers of commerce and other relevant business associations in the United States of America.
This collaboration fits squarely with the commitment of COMESA through the COMESA Business Council and the Corporate Council of Africa to promote cooperation in investment promotion, private sector development, and the sharing of experience gained by developing countries in their national development strategies and in technical cooperation programmes.
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Dr. Asfour and President and CEO of CCA, Mr. Stephen Hayes signing the MoU