Business News

East African Business Council and Ugandan Officials Talk to Promote Regional Trade Growth

22nd February 2023 Arusha, Tanzania – To strengthen regional trade and economic cooperation, high-level talks were held between East African Business Council (EABC) representatives and Ugandan officials.

A courtesy call was made to the EABC headquarters in Arusha by Vincent Waiswa, Permanent Secretary of the Ministry of Foreign Affairs of the Republic of Uganda, as well as H.E. Amb. Richard Kabonero and H.E. Amb. Anne Katusiime Kageye, Head of the Uganda Consulate in Arusha.

The Executive Director of EABC, Mr. John Bosco Kalisa, reaffirmed the Council’s unwavering dedication to boosting commerce in order to improve prosperity in East Africa. In doing so, he highlighted the critical role that public-private partnerships play in advancing socio-economic growth and highlighted the private sector’s position as the engine of regional development.

“We are grateful to the Ministry of Foreign Affairs Uganda for their cooperation in the 19th NAM Summit Business Summit in 2024 as well as the East African Business Summit in 2023,” Mr. Kalisa stated.

“EAC is the fastest-growing economic bloc, and in the face of geopolitical tensions, EABC is steadfast in its advocacy for the removal of non-tariff barriers to expedite EAC integration.”

The Permanent Secretary of the Ministry of Foreign Affairs of the Republic of Uganda, Vincent Waiswa, emphasized the value of intra-EAC trade and cooperation between member states in order to aggregate exports to the European Union (EU) and the African Continental Free Trade Area (AfCFTA).

He emphasized common resources like Lake Victoria, which offer lots of chances for export cooperation and consolidation.

Mr. Waiswa also emphasized the advancements that EAC partner states have made in voice and data telecommunications on the One Network Area.

As the region prepares for the monetary union in 2031, improving the interoperability of communications networks for mobile money transfer would ease cross-border corporate activities.

The analysis of non-tariff trade obstacles, private sector submissions to Joint Permanent Commission Meetings, statistics, the implementation of the AfCFTA policy, and the role of peace in promoting trade were among the topics covered in the discussions.

ADVERTISMENT

Leave a Reply

Back to top button