Trade Agreements - Comoros
To strengthen the economic and trade partnership, the Union of the Comoros has become a signatory to several bilateral, multilateral and international agreements .
A number of bilateral investment treaties have been signed with different countries. However, most of them have not been ratified to date and therefore have not yet entered into force. In addition, a double taxation agreement has been signed with France.
List of countries
- Burkina Faso
- Mauritius Island
The Comoros are part of the developing countries and benefit from the Generalized System of Preferences (GSP) which grants it privileged access to the market of developed countries without discrimination or obligation of reciprocity. The quotEverything But Armsquot initiative granted by the European Union (EU) to the least developed countries (LDCs) and from which the Comoros also benefit, falls within the framework of the GSP.
Comoros has been eligible for AGOA since 2008 , benefiting from the African Growth and Opportunity Act (AGOA).
The Comoros benefit from the Economic Partnership Agreement. Economic Partnership Agreements (EPAs) are trade and development cooperation agreements that provide duty-free and quota-free access to the EU market, based on favorable rules of origin for partner countries. They contribute to export diversification, competitiveness and the creation of local value chains .
Free Trade Agreement
The Union of the Comoros is also a member of the Tripartite Free Trade Area bringing together COMESA, Z SADC and the East African Community (EAC). Negotiations for the establishment of the Tripartite Free Trade Area began in 2011 and culminated in the signing of the Free Trade Agreement in 2015. Although
many countries have signed the treaty, including the Comoros, the agreement is awaiting ratification and negotiations are continuing in several areas, particularly on trade in services.
Indian Ocean Commission
The Indian Ocean Commission (IOC) is an intergovernmental organization which brings together five member states : the Union of the Comoros, France in respect of Reunion, Madagascar, Mauritius and the Seychelles. One of the strategic axes of the IOC is to strengthen economic and trade cooperation between member countries .
the Common Market for Eastern and Southern Africa (COMESA)
The Common Market for Eastern and Southern Africa (COMESA) is the first economic and trade integration zone to which the Comoros joined. The country ratified the COMESA Free Trade Area (FTA) Treaty in 2006, and since 2012 has applied a zero-rate preferential tariff on goods imported from 18 other member countries, apart from a list of sensitive products defined by the Comoros.
T he Southern African Development Community (SADC)
The Comoros joined the SADC in 2017. One of the advantages for the Comoros of belonging to this grouping is the presence of South Africa, which constitutes a potential market for exported Comorian products .