COMESA was established on 8th December 1994 to replace the PTA which existed from 1981 to 1994. It was designed to facilitate growth and development through cooperation in exploitation of resources in the region.
COMESA is an economic grouping comprising of 21 states in east and southern Africa, namely; Angola, Ethiopia, Burundi, Eritrea, Egypt, Kenya, Seychelles, Mauritius, Libya, Madagascar, Mozambique, Malawi, Rwanda, Sudan, Swaziland, Uganda, Djibouti, Congo, Zambia, the Comoros and Zimbabwe. The following are the achievements of the Common Market for Eastern and Southern Africa:-
(a) Trade has been liberalized within the common market, this in turn has eased trade among member states and has led to wealth creation as well as job opportunities in the COMESA region.
(b) Member states are able to corporate well in respect to the charging and payment of custii, thus has particularly been aided by the introduction of computerized customs networks in the region and has facilitated greater trading among the member states.
(c) Measure have been taken to improve transport and communication systems within the common market in order to ease movement of services, peoples, and goods in the region, for example, measure to link ports, highways and railways systems in the region are in high gear.
(d) Member states are also taking measure to create a more enabling environment for investment within the common market, through creating the requisite legal structure in order to encourage the growth of private sector investment.
(d) Provide member States with food security, as well as a larger market especially for agriculture commodities. Moreover, since it provide a wide variety of commodities, it ensure self sufficiency in agriculture requirements.
(e) The common market has also facilitated harmonization of macro-economic and monetary issue especially banking and financial policies through out the region.
(f) Provides member states with a wide range of benefits, these include a wide and competitive market of over 400milion peoples, who provide a crucial market for internal and external trade.