Wednesday, October 31, 2012

Burundi want compensation from COMESA over regional integration


The Burundi government on Friday asked the Common Market for East and Southern African (COMESA) to compensate its losses suffered during the 2011-2012 period due to its efforts to achieve regional integration.

The government’s appeal was made in Bujumbura by Madam Patricie Rwimo who is the permanent secretary in the country’s Trade and Industry Ministry.

Rwimo made the declaration during the launch of a workshop on the preparations to put in place Burundi’s regional economic integration plan under the COMESA Adjustment Facility/ Regional Integration Support Mechanism (CAF/ RISM).


She said she was happy that the COMESA Secretariat had already disbursed 12.7 million euros (16.5 million U.S. dollars) toward compensation for the loss that had resulted from regional integration.

Rwimo said that under the context of CAF/RISM, Burundi, just like other member countries of the sub-regional body, had decided to support regional integration as a way of growing her economy.

She however noted that there are some persistent non-tariff barriers that prevent free movement of goods, services, capital and people.

Although Burundi had started benefiting from the regional integration, Rwimo noted that the country had lost some revenue as well as some markets due to its integration efforts.

She revealed that due to integration, some Burundian industries had shut down while others were condemned to close down soon.

The situation, she said, had produced a negative impact on jobs, loss of income for households as well as loss of revenue for the government.

Source

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