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PUBLISHED ON February 23rd, 2024

Uganda, EABC Root for Deeper Regional Trade Ties

The EAC Secretariat’s statistics show that the region’s total trade value with the rest of the world (ROW) in the 3rd quarter of 2023 (July to September 2023) was US$ 21.0 billion, which was a one percent decline compared to US$ 21.2 billion in the similar quarter of 2022

Uganda’s Foreign Affairs Permanent Secretary Vincent Bagiire has underscored the significance of intra-EAC trade and collaboration among partner states in aggregating exports to the African Continental Free Trade Area (AfCFTA) and the European Union (EU).

Bagiire said the “shared resources such as Lake Victoria, present abundant opportunities for export collaboration and aggregation.”

The Permanent Secretary spoke on Thursday during high-level talks between Ugandan officials and the East African Business Council (EABC) in Arusha, Tanzania aimed at fortifying regional trade and economic cooperation.

The discussions encompassed various areas, including the analysis of non-tariff barriers, private sector proposals to Joint Permanent Commission Meetings, statistics, the rollout of the AfCFTA strategy, and the role of peace in facilitating trade.

Bagiire was accompanied by the Director of Regional Economic Cooperation, Amb. Richard Kabonero and Amb. Anne Katusiime Kageye, Head of the Uganda Consulate in Arusha at EABC headquarters in Arusha.

The EAC Secretariat’s statistics show that the region’s total trade value with the rest of the world (ROW) in the 3rd quarter of 2023 (July to September 2023) was US$ 21.0 billion, which was a one percent decline compared to US$ 21.2 billion in the similar quarter of 2022

Four of the EAC Partner States (Tanzania, Kenya, Uganda and South Sudan) were among the top twenty trading partners during the review period trading US$ 2.5 billion equivalent to 11.8 percent of total trade.

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