DRC moves to stem income losses in Comesa entry push

For example, the current tariff structure of five per cent for raw material and capital goods, 10 per cent for semi-processed goods and 20 per cent for finished goods matches the Comesa common external tariff (CET).

To harness the opportunity, the Comesa secretariat said the DRC’s finance ministry had expressed a commitment to participating in the regional market and would join the Comesa fund’s adjustment facility by the end of the year.

Although the country has an option to drop the MFN rates, its Treasury warned that such a move would deal it a massive blow because the national fiscal budget depends more heavily on import duties and taxes than the internal revenue collected.

The Comesa adjusting facility specifically helps member nations to cushion themselves against losses that come with market liberalisation programmes as more nations integrate into larger economic communities.