Antananarivo, Saturday, October 15, 2016:Â The COMESA Council of Ministers has approvedÂ the Medium Term Strategic Plan for 2016 â€“ 2020 for the regional bloc. 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 theÂ 36th COMESA Council of Minister meeting meeting noted that the MTSP has been aligned with the Treaty, the Global sustainable Development Goals and the Continental Agenda 2063.
â€œIt 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,â€ the Ministers noted.
â€œThe 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.â€
Developed under the theme â€œIn pursuit of Regional Economic Transformation and Developmentâ€, 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.