Zimbabwe Postpones COMESA Trade Summit, Again

Central bank Governor Gideon Gono urged government to move the summit to Harare from Victoria Falls to reduce costs.

Zimbabwe postponed hosting a summit of regional trade bloc COMESA for the second time this year, state media reported on Thursday, as the country battles political and economic crisis.

The Common Market for Eastern and Southern Africa summit, initially scheduled for May, was moved to Dec. 6 after a disputed election in which President Robert Mugabe's ZANU-PF lost to the opposition MDC.

Last week, central bank Governor Gideon Gono urged government to move the summit to Harare from Victoria Falls to reduce costs.

Zimbabwe is battling hyperinflation, with the official inflation figure above 231 million percent and independent estimates putting it significantly higher than that.

Industry and International Trade Minister Obert Mpofu told the state-run Herald newspaper the summit had been called off due to ongoing talks on the harmonisation of various trade pacts between the East African Community and COMESA.

Zimbabwe was expected to take over the chairmanship of the 19-member COMESA at the summit from Kenya.