Sunday 29 September 2024 Cairo, Egypt: – Representatives from the Ministries responsible for Investments and the National Investment Promotion Agencies (NIPAs) drawn from all COMESA Member States are convening in Cairo, Egypt on Monday 30 September – 1 October 2024 to validate the revised COMESA Common Investment Agreement (CCIA).

The CCIA was initially adopted in 2007 by Heads of State to enhance the business environment in the region and attract investments. However, since its adoption, no country has ratified or domesticated the agreement. Several factors have contributed to this stagnation, including insufficient resources for awareness campaigns, the impact of the Covid-19 pandemic, a lack of adequate human and financial support for domestication efforts in Member States, and changes in government over time.

In 2022, the COMESA Secretariat, supported by the European Union Development Fund through the Regional Enterprise Competitiveness and Access to Markets Programme (RECAMP), began efforts to raise awareness among Member States about the CCIA and expedite its domestication. Six countries—DRC, Eswatini, Malawi, Uganda, Zambia, and Zimbabwe—showed interest in this process, but progress was hampered by insufficient financial resources for national stakeholder consultations.

In light of recent developments, including the adoption of the African Continental Free Trade Area Investment Protocol, COMESA has deemed it essential to revise its investment agreement to align with international best practices.

During the workshop, experts from UNCTAD will present the revised CCIA to Member States for validation and ownership of the draft. Additionally, the session will outline a roadmap for the domestication of the CCIA across the region. The COMESA Assistant Secretary General for Programmes Amb. Dr Mohamed Kadah is expected to participate in the workshop and launch of CoP.

Additionally, COMESA has created an online Community of Practice (CoP) platform designed for investment stakeholders to interact, engage, exchange ideas, discuss experiences, and share information and best practices related to investment. This CoP will support Member States and other stakeholders interested in private sector reforms by providing access to updated information on best practices for enhancing the business and investment climate.

Participants will gain access to the platform only after accepting an invitation from the administrator.