IN a bid to speed up integration through cross border trade and investments, East African Business Council and regional member of states’ chambers of commerce have agreed on flexible approaches to address emerging setbacks holding back progress.

EABC executive director, John Kalisa.

Speaking at the climax of an East Africa Trade and Industrialization Week held in Dar es Salaam on Friday, EABC Executive Director, John Kalisa said that there a number of areas that stakeholders discussed and agreed such as strengthening the private sector engagement among member states.

Kalisa said business people highlighted issues hindering rapid economic integration and cross border trade as presence of non-tariff barriers, standardization and sanitary and phytosanitary standards and of late, measures related to the Covid-19 pandemic.

He said private sector members from the member states also agreed to promote inclusiveness, access to finance by women and youth and how has the EAC position itself to exploit opportunities provided by African Continental Free Trade Area (AfCFTA).

“Issues raised are related to no-tariff barrier, access to finance, economic recovery post the Covid-19 pandemic which has badly affected economic sectors such as tourism and agri-business. We are targeting to rebuild trust and confidence among member state,” Kalisa said.

“Participants also discussed on how EABC can unlock the challenge by engaging the African Development Bank and other development banks to ensure that SMEs of the region have access to affordable and long term financing,” the EABC chief said.

According to him, the weeklong discussions among stakeholders in the production value chain was also geared to ensure that trade facilitation agencies such as customs, bureau of standards, immigration departments need to work together to facilitate trade rather than hindering it.

“We have discussed on how we avail trade related information to the regional business community. On the other hand, there have been a strong call in terms of African Continental Free Trade Area on how to position the east African business actors and agencies in promoting and taking advantage provided by the continental trade platform to explore opportunities,” Kalisa said.

He said that the barriers hindering recovery of business, EABC has committed itself to work closely with the apex organizations such as Tanzania Private Sector Foundation, Tanzania Chamber of Commerce Industry and Agriculture, Confederation of Tanzania Industries on issues impacting trade across the region.

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