Opening speech By H.E. Ato Ahmed Shide, state minister, ministry of finance and economic development: on the meeting of the committee on trade, regional cooperation and integration

Abstract

Opening Speech By H.E. Ato Ahmed Shide, State Minister, Ministry of Finance and Economic Development on The meeting of the Committee on Trade, Regional Cooperation and Integration, UN ECA, Mr. Ahmed on his speech remarks that, Regional integration requires closer amalgamation of trade and integration of policies across Regional Economic Communities (RECs)to create a more unified market space. The overarching outcome of mainstreaming regional integration among RECs is improved coordination of activities and implementation of commitments, which provides member states with greater benefits resulting from membership. The RECs Free Trade area and Customs Union led to the free movement of goods services, labor, and capital among member countries. When the RECs integration process become stronger, more sectors will open up and involve. Mainstreaming regional integration by all REC member states improves their joint access to international market and improves their bargaining power.