THE East African Business Council (EABC), in partnership with East African Community (EAC) and USAID support has convened over 38 industry champions and business leaders from the region to discuss opportunities of the African Continental Free Trade Area (AfCFTA), tariffs, rules of origin and trade in services.

The EABC Chief Executive Officer (CEO), Peter Mathuki said in his opening remarks in Arusha yesterday that, “We need more public-private dialogue and involvement of the private sector in the negotiations of the AfCFTA at national, regional and continental levels,” He urged the EAC Partner States to eliminate barriers to trade, improve infrastructure and enhance regional value chains through manufacturing to harness opportunities availed by AfCFTA.

He appreciated Rwandan President and the Chair Emeritus of the African Union and current Chair of the Summit of EAC Heads of State Paul Kagame President for championing the 1.2 billion continental markets.

“Given that commencement of trading within the AfCFTA is slated for 1st July 2020, the East African private sector is steadfast in setting pace of the AfCFTA negotiations. EABC is in close discussion with the African Union and has offered to host the first-ever African Business Council in East Africa,” he said.

In his remarks, Mr Christophe Bazivamo, the EAC Deputy Secretary General for productive and social sectors reiterated EAC’s commitment to work in close partnership with the private sector.

“The world is targeting the Africa market, what are we targeting as East Africans?” said Bazivamo.

He further said the EAC has agreed to implement the AfCFTA as one bloc and the summit of the EAC Heads of State is committed to promoting growth of industries, investments in the region.

“Business people should take the lead in exporting made in East African products across the continent,” said Bazivamo.

He highlighted that agri related products compose of approximately 60 per cent share of intra EAC trade and most industries have close linkages with the agricultural sector hence need to, enhance harmonisation of standards, improve competitiveness, facilitate trade and address supply-side constraints in order to seize the opportunities offered by the AfCTFA. 

Source: Daily News

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