Tunisia will soon join COMESA’s real-time e-payment platform
The Common Market for Eastern and Southern Africa (COMESA) offers great opportunities for cooperation and investment potential for Tunisian businessmen, said Teddy Yagambaram Soobramanien Chief Executive Officer (CEO) of the COMESA Business Council (CBC), during a parallel workshop at the seventh edition of the international conference ‘Financing Investment and Trade in Africa / Fita 2024’.
‘COMESA is one of the largest regional economic blocs in Africa, which makes it a key gateway to trade development in the continent,’ Subramanian said during a parallel workshop to the seventh session of the international conference ‘Financing Investment and Trade in Africa / FITA 2024’, adding that COMESA is one of the largest regional economic blocs in Africa, which makes it a key and gateway to trade development in the continent.
Teddy Yagambaram Soobramanien Chief Executive Officer (CEO) of the COMESA Business Council (CBC)
He added that the COMESA Business Council will return this summer to Tunisia to organise meetings and events with businessmen and structures concerned with investment, trade and economy in Tunisia to promote the opportunities and potentials available in COMESA countries and the mechanisms that have been put in place to facilitate the enjoyment of various mechanisms and facilities.
He explained that COMESA, whose accession by Tunisia became effective in June 2019, is working to create one of the largest economic and trade blocs by urging its 21 members to reduce customs barriers and facilitate movement between the group’s countries.
Today, COMESA is a market of 640 million people, covering an area of nearly 12 million square kilometres. In 2022, COMESA countries had a gross domestic product of US$1.0 trillion, exports of US$205 billion worth of products and goods, and imports of US$272 billion.
The GCC countries are expected to experience faster demographic and urban growth than any other region in the world, which means a growing consumer market.
The region is rich in natural resources such as abundant water, fertile arable land, minerals such as gold, copper and platinum, and the potential for hydrocarbon exploration.
Subramanian noted that the strategic location of the various GCC countries on international trade routes (Suez Canal, Red Sea, Mediterranean Sea, Indian Ocean) and their proximity to international markets (Europe, Gulf States, Asia and the rest of the African continent) makes them eligible to play a pivotal role in the development of trade and economy in Africa.
For his part, Dr Jonathan Pinifolo Executive Officer of the Digital Financial Inclusion Project, presented an overview of the objectives of this project aimed at facilitating rapid electronic payments through the ‘regional cross-border instant payment platform’ or digital payment system, indicating that this platform, which currently includes 8 countries (Zambia, Malawi, Kenya, Uganda, Rwanda, Egypt, Ethiopia and Morris), will soon see other countries join, including Tunisia.
The seventh edition of the international conference ‘Financing Investment and Trade in Africa / FITA 2024’ opened on Tuesday morning in the capital under the theme ‘Promoting local industries and technology transfer for sustainable and inclusive growth in Africa’.
Dr Jonathan Pinifolo Executive Officer of the Digital Financial Inclusion Project
Organised by the Tunisian-African Business Council (TABC), the two-day international economic event is attended by 1,000 participants from 65 countries. The Tunisian-African Business Council plans to hold 2,000 B to B meetings, meetings between companies and government structures.
TunisianMonitorOnline (Dhouha Talik- English: NejiMed)
