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WTO Chief Hails African Free-Trade Common Market
Director-General of the World Trade Organization (WTO) Mike Moore Wednesday hailed the establishment by nine African countries of a free-trade zone covering a population of 170 million.
In a statement issued here, Moore said the nine members of the Common Market for Eastern and Southern Africa (Comesa) have exhibited leadership and courage, inspiring governments around the world.
"This agreement is a stepping stone toward greater development and higher living standards for Africans. It represents a vote of confidence in trade as an engine for growth and development," he said.
"Too much of the world is, at present, focused inward. These governments have shown the importance of looking beyond one's borders for solutions to the problems which plague many developing countries," he added.
Moore said trade liberalization at the regional level consistent with WTO rules will strengthen the global trading system by providing fresh ideas and instilling citizens with confidence in trade.
He said he believed that the free-trade common market will promote the economic development in Africa and also help build closer and peaceful relations with neighboring countries.
The nine countries, including Djibouti, Egypt, Kenya, Madagascar, Malawi, Mauritius, Sudan, Zambia and Zimbabwe, have pledged to integrate their economies further by permitting the free movement of skilled labor by 2004, the free movement of people by 2014 and a currency union by 2025.
Moore is expected to hold talks with ministers from these countries during his visit to Libreville, Gabon, on November 13-15 for a meeting of African trade ministers.
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