The region’s manufacturing sector has huge potential and collective effort will be crucial for countries to exploit it, Prime Minister Anastase Murekezi has said.

Murekezi was speaking at the official opening of the second East African Manufacturing and Business Summit in Kigali yesterday.

He told regional policymakers, industrialists and other participants attending the summit that the East African Community has set out a target of ensuring that by 2032, the manufacturing sector will contribute 25 per cent to the bloc’s GDP.

Currently, manufacturing accounts for just 10 per cent of the GDP in the region.

Murekezi said it is expected that by 2032 the bloc will have diversified the manufacturing base and raised the value of local content of manufactured exports to at least 40 per cent from the currently estimated value of 8 per cent.

Source: All Africa

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