COMESA to advance Simplified Trade Regime (STR) to cover selected services

COMESA is set to broaden its Simplified Trade Regime (STR) to cover selected services like transport, tourism, finance and business services.

This expansion aims to simplify cross-border trade for small-scale traders, enhancing regional economic integration and growth.

The Director of Trade and Customs Division at the COMESA Secretariat Dr. Christopher Onyango noted that services account for about 50% of GDP in most Member States, creating employment opportunities and enabling cross-border trade.

Onyango said extending the STR to services will expand opportunities for small-scale entrepreneurs, promote formalisation through simplified procedures, empower women and youth who dominate small scale trade and strengthen regional value chains.

He was speaking today during the official opening of a two-day Regional Awareness Workshop on the Study on assessing options for inclusion of selected services under the Simplified Trade Regime in Harare, Zimbabwe.

The workshop brought together stakeholders, including policymakers, traders and the media to discuss operationalizing the proposals and pilot services.

In a speech read on her behalf by Engineer Francis Gondo, the Chief Guest and Permanent Secretary in the Ministry of Women Affairs, Community, Small and Medium Enterprises Development in Zimbabwe Dr. Mavis Sibanda said the expansion of COMESA's Simplified Trade Regime (STR) to include services is a game-changer for small-scale service providers, enabling them to access new markets and share their expertise across the region.

Dr. Sibanda said the move will open fresh opportunities for traders to offer essential services like transport, repairs, ICT, tourism and financial support, reducing compliance barriers and increasing incomes.

EU Chargée d’Affaires and Deputy Ambassador in Zibwabwe Lourdes Chamorro praised the move, noting it will drive inclusive growth, boost competitiveness and deepen regional integration within COMESA.