EAC trade, policy experts to spur regional business
THE East African Community (EAC) experts in trade and policy are joining forces to spur business in the bloc.
It is an initiative that has been undertaken by the East African Business Council (EABC) in partnership with the Federation of German Industries (BDI).
The initiative kicked off by a convention of experts from all EAC partner states in Arusha aims to chart out a joint regional policy advocacy agenda.
EABC Chief Executive Officer (CEO), Mr Peter Mathuki, said in his opening remarks that there was a need to enhance collaboration, creating synergies between EABC and national apex business associations and chambers of commerce in the region.
He said the initiative is very important towards informing and harmonizing policy advocacy initiatives that reflect business challenges experienced at national level.
“Voicing barriers and proposing solutions on boosting trade, in one voice as the East African business community, reinforces our advocacy efforts towards improving the business environment in the EAC,” remarked Mr Mathuki.
He urged the experts to analyze the implications of new dynamics such as the BREXIT and AfCFTA towards East African businesses.
The CEO said there was a need to craft solutions on boosting intra-EAC trade to 30 per cent.
He said concerted advocacy efforts are needed to fast track the finalization of the comprehensive review of the EAC Common External Tariff to boost industrialisation and regional value chains.
The regional policy advocacy agenda aims to harness the economic potential of the EAC by analyzing trade and investment barriers blocking businesses to take full advantage of the EAC Customs Union and Common Market.
The expert also mentioned operationalization of the EAC Trade Remedies Committees and adoption of One Network Area for telecommunication by all EAC Partner States.
He sensitized on operationalisation of EAC regional customs bond (applicable in the Northern & Central Corridors) and the removal of restriction to trade in services as a vital initiative towards boosting intra-EAC trade and investments.
EABC membership is open to all national and regional associations as well as corporates with interest in the EAC integration process or operations in the region.
At the national level, EABC activities are coordinated through the EABC National Focal Points. Those are Federal Chamber of Commerce and Industries Burundi (CFCIB) and Kenya Private Sector Alliance (KEPSA).
Others are Rwanda Private Sector Federation (PSF), South Sudan Chambers of Commerce Industries and Agriculture (SSCCIA), Tanzania Private Sector Foundation (TPSF) and Private Sector Foundation Uganda (PSFU).
