Speaking in Nairobi, Kenya during the EABC-KEPSA CEO Round Table on EAC regional integration, Nesbitt underscored the need for the EAC to harmonize taxes and product standards, open up East African skies and enforce agreed-upon EAC protocols to markedly improve the business and investment climate and boost economic resilience, recovery and growth.

“We need to implement a regional coordinated approach on Covid-19 measures and get into action to build back our economies better amid the pandemic,” said Nesbitt.

He elaborated that the high air passenger ticket and freight fares in the EAC increase the cost of doing business. He also called upon the EAC to formulate supportive policies for SMEs to innovate, improve skills and technology to be able to expand across the EAC border and the continent.

“Transport infrastructure development and interlinkage are important to enable giants of East Africa to march across the rest of Africa and access the continental market,” said Nesbitt.

The Chief Guest, Adan Mohamed who is the Cabinet Secretary for East African Community & Regional Development Kenya and the Chair of EAC council of ministers committed to improving the business environment in the EAC region in close partnership with the private sector-led by EABC

Speaking at the CEO Round Table, John Bosco Kalisa, EABC CEO said: “As EABC we appreciate the political goodwill from the EAC Heads of State evidenced by recent High-Level Bilateral Engagements and State Visit to Kenya leading to resolution of trade barriers such as visa fees and recurring Non-Tariff barriers.”

Kalisa elaborated that in 2020, Kenyan exported Ksh. 71.9 billion to Uganda and Ksh. 31.2 billion to Tanzania, Ksh. 25.1billion to Rwanda and this is set to increase if the EAC Trade Remedies Committee is operationalized.

He also urged the EAC Partner States to sustain tax reductions and stimulus packages until impacted business sectors recover to the pre Covid-19 level.

Dr Peter Mathuki, EAC Secretary-General urged the private sector to amplify advocacy and seat at the table with policy decision-makers to articulate solutions to boost trade and investment.

He emphasized that the recently launched EAC-EABC Technical Working Group is a platform for the private sector and EAC to chart out the road map to increase intra-EAC trade and prosperity.

Principal Secretary State Department of EAC, Ministry of East Africa Community and Regional Development Kevit Desai urged for more collaboration and greater coordination between the private and public sectors to support Micro, Small and Medium Enterprises (MSMEs) and cross border women traders in the region.

Desai said the ministry with support from TradeMark Africa (TMA) has embarked on developing cross border traders market at the Busia.

Flora Mutai Chairperson of Kenya Private Sector Alliance (KEPSA) said: “We need to address barriers preventing businesses from engaging in intra-regional trade.”

CEO of Kenya Association of Manufacturers, Philis Wakiaga urged the EAC to finalize the review of the EAC Common External Tariff in order to attract investments in the industrial sectors.

Kenneth Bagamuhunda, EAC Director General Customs and Trade highlighted that EAC is developing an e-commerce strategy and a centralized platform for trade facilitation agencies in order to ease intra-regional trade. He elaborated that elimination of Non-Tariff Barriers, improving industrial capacity, value addition and strengthening value chains is key towards boost intra-EAC trade to 50 percent.

The EABC-KEPSA CEO Round Table was attended by EALA Speaker, Martin Ngoga and the Judge President of the East African Court of Justice (EACJ), Nestor Kayobera, business leaders in Kenya and EABC Board of Directors—Mary Ngechu and Emily Waita.

Read original article

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.