Just before the December festive season got underway last year, East African Community (EAC) Secretary General, Amb. Richard Sezibera and Arancha González, the International Trade Centre Executive Director announced a joint project to boost intra-Africa trade. Note that intra-Africa trade is less than 15% of overall African trade, which makes this project important and worthy of strong support. Dr. Sezibera said the deal will contribute to improving the global competitiveness of the EAC region and to trigger sustainable economic growth. Implementation of the five-year $8.5 million TRIP for EAC project is set to begin this month. The government of Finland has also pledged to provide initial funding. According to the EAC Secretariat, the new initiative aims to strengthen existing efforts by East African countries for closer economic integration, including the East African Customs Union, and the 2010 establishment of the EAC Common Market. ITC is the joint agency of the WTO and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the UN Global Goals. The TRIP for EAC project also sets out to support the African Union's Action Plan for Boosting Intra-African Trade and the recently agreed tripartite free-trade agreement among the Common Market for Eastern and Southern Africa (COMESA), the EAC and the Southern African Development Community (SADC). ITC and the EAC will intervene at three levels to provide integrated solutions to...
EAC Deal With Itc Should Bear Fruits
Posted on: January 12, 2016
Posted on: January 12, 2016