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How COVID-19 is impacting trade across the COMESA region
The COVID-19 pandemic has seen countries across the Common Market for Eastern Africa implemented new trade regulations, restricting the movement of some goods and services to curb the spread of the virus. Sandra Uwera, CEO, COMESA Business Council joins CNBC Africa to discuss how best this can be done to minimize losses.
Thu, 30 Apr 2020 09:59:41 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Significant disruptions in cross-border movement of goods due to logistical impediments
- Estimated cost of $37-79 billion in output losses anticipated for sub-Saharan Africa in 2020
- Recommendations include harmonized regional approaches and collaboration between border management authorities
The COVID-19 pandemic has thrown a curveball at countries in the Common Market for Eastern Africa (COMESA), leading to the implementation of new trade regulations aimed at curbing the spread of the virus. Sandra Uwera, the CEO of COMESA Business Council, sheds light on the challenges faced and provides recommendations on how to minimize losses during these uncertain times. As the pandemic unfolds, the impact on trade within the region is becoming increasingly evident. With over 33,000 confirmed cases and 1,500 deaths in Africa, the region is grappling with the repercussions of the virus. COMESA itself has reported 497 confirmed deaths, with some countries like Komoros showing no infections and others like Djibouti and Seychelles recording minimal cases. One of the primary challenges faced by the region currently lies in the shortage of production within domestic territories due to logistical hurdles hindering the movement of essential goods and supplies across borders. The transport and logistics sector is at the forefront of these challenges, prompting collaborative efforts between health ministries, trade ministries, regulatory bodies, customs authorities, and the private sector to ensure safe trade practices and improved access to products. Despite these efforts, the environment remains complex and challenging, impacting the smooth flow of goods and services across the region.
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