Successor to the Preferential Trade Area, with a Secretariat as its executive organ: COMESA
Background
COMESA, the Common Market for Eastern and Southern Africa, was formed in December 1994 to replace the former Preferential Trade Area (PTA), which had existed from the earlier days of 1981.
Its Treaty defines COMESA as an organisation of free independent sovereign states which have agreed to co-operate in developing their natural and human resources for the good of all their people.
Its priorities include the promotion of peace and security in the region, but its main focus is the formation of a large economic and trading unit.
The current strategy of COMESA is summed up in the phrase economic prosperity through regional integration.
With a population of over 520 million and global trade in goods worth US$ 235 billion, COMESA forms a major market place for both internal and external trading.
Its Free Trade Area was achieved on 31st October, 2000, when member States eliminated tariffs on COMESA originating products under a tariff reduction schedule adopted earlier, and Burundi and Rwanda joined the Free Trade Area afterwards.
The Secretariat is the executive Organ of COMESA and ensures that the regulations and directives adopted by the Council of Ministers are properly implemented.
It is headed by a Secretary-General appointed by the COMESA Authority for a term of five years, eligible for reappointment for a further term of five years, who is the principal executive and accounting officer for COMESA as well as the Secretary of the Summit.
In plain words
COMESA Common Market for Eastern and Southern Africa — An African trade bloc that grew out of an earlier preferential trade arrangement.
PTA Preferential Trade Area — The arrangement for eastern and southern Africa that COMESA replaced.