Free Trade Area
COMESA established a Free Trade Area in 2000, setting the stage for the reduction of tariffs amongst Member States. Hence, intra COMESA trade has grown at an average of seven per cent with higher increases reflected between intra-Free Trade Area States.
Removal of Non-Tariff Barriers
By 2018, 98% of NTBs reported since 2008 had been resolved. These covered: liberalisation of import licensing, removal of foreign exchange restrictions, taxes on foreign exchange, import and export quotas, road blocks, easing of Customs formalities, extending times border posts are open, creation of One-Stop-Border -Posts, among others.
COMESA Carrier’s License
The License allows commercial goods vehicles to use one license to operate in all Member States. This means that vehicles can pick up loads on return trips in other countries thus making efficient use of transport fleet and reducing the cost of trade.
The Regional Customs Transit Guarantee Scheme – RCTG
The RCTG Scheme is a customs transit regime developed to facilitate the movement of goods under customs seals in the COMESA region. It provides the required customs security and guarantee to the transit countries. Among its key benefit is the reducing the cost of Bond /Guarantee and collaterals charged by Sureties and Agents.
The Yellow Card
The COMESA Yellow Card Insurance Scheme is a Regional Third-Party Motor Vehicle Insurance Scheme. It provides third party legal liability cover and compensation for medical expenses resulting from road traffic accidents caused by motorists visiting countries in the Scheme.
COMESA Virtual Trade Facilitation System (CVTFS)
CVTFS is an online system that integrates other COMESA trade facilitation instruments (Yellow Card, RCTG, Carrier License Harmonized axle load etc) in one platform. It also helps to monitor cargo along different transport corridors across the region.
COMESA Monetary Harmonisation Programme
The Programme aims at establishing a common monetary area to facilitate economic integration and sustained economic development. The ultimate objective is to achieve a Monetary Union.