Posted on August, 28, 2019 at 09:39 am
PRESIDENT Yoweri Museveni of Uganda has called on East African Community (EAC), member states to embrace free trade to boost regional integration that is necessary for sustainable growth and development in the region.
Speaking to officials from the East African Business Council (EABC), at Entebbe State House over the weekend Mr Museveni said no future markets for East African good and services without free-trade in East Africa Community, Africa and globally.
“There is no serious industry that can survive on the internal market alone and that free trade is the minimum leaders could do to uplift East African livelihoods,” said Mr Museveni as quoted in an EABC statement issued on Sunday.
The EABC official had called on President Museveni to engage him on different matters of regional trade which include EAC Common External Tariff (EAC CET), Africa open skies agreement, one network area on telecommunication, harmonization of standards in the EAC and strengthening the EAC secretariat on enforcement of laws.
Others are market access with DemocraticRepublic of the Congo, transport inter-linkages in the region-road, rail and water (Lake Victoria), inter-governmental trade dispute resolution mechanism and closer government involvement and government partnership with the private sector.
EABC Chief Executive Officer (CEO), Peter Mathuki said that comprehensive review of the EAC CET was yet to be finalized four years down the line adversely affecting intra-EAC trade.
The Ugandan leader expressed the importance of partnershipbetween the East African Community (EAC), governments and the private sector.
“Private sector is the dynamic and active element that unites the factors of economysuch as land, natural resources and labour. The private sector brings on board entrepreneurship and capital,” said President Museveni.
According to the EABC statement, President Museveni called for a common strategic ideology for all East Africa, saying that all governments should see the primary interest is to promote prosperity, therefore trade and partnership with privatesector.
He elaborated that there are no future markets for East African goods and services without free trade in EAC, Africa and the world. He said that no country’s internal market is sufficient and viable to survive.
President Museveni reiterated his commitment to champion the finalization of the comprehensive review of the Common External Tariff (CET), with a focus on encouraging industrialisation and harmonisation of standard.
He mentioned other commitments as supporting EABC to be granted headquarter agreement with Tanzania, improve efficiency and affordability of air passenger and cargo transport in the region and look at the potential of Lake Victoria transport infrastructure such as incentives to spur investment in the water transport sector.
The EABC delegation was led by Mr Nick Nesbitt, the EABC Chairman and involved the Chairman of the Private Sector Foundation of Uganda (PSFU), Patrick Bitature, EABC Vice-Chairman and Director, Madhvani Group of Companies, Mwine Jim Kabeho, EABC Chief Executive Officer (CEO), Peter Mathuki, EABC Board Director and Group Director Bidco Africa Limited, Chris Diaz. Others were the Executive Director of Tanzania Private Sector Foundation (TPSF), Godfrey Simbeye, CEO of Private Sector Foundation Uganda (PSFU), Gideon Badagawa, EABC Board Director, Simon Kaheru, Director PSFU, Merian Sebunya, Senior Director, TradeMark East Africa, Waturi waMatu, a PSFU senior officer Moses Ogwal.
Source: Daily News