Written on . Posted in Trade
East African Community Headquarters, Arusha, Tanzania, 12th October, 2024: The EABC CEOs-EAC Secretary General Meeting held in Kigali, Rwanda has declared a commitment to boost intra-EAC trade to 40% by 2030 and Rwanda’s trade and investment ties with counterparts
The meeting, held under the theme “Enhancing Competitiveness in the EAC: Addressing Barriers and Leveraging Opportunities in Regional Integration,” was organized by the East African Business Council (EABC) in partnership with the Private Sector Federation – Rwanda (PSF-R) and the East African Community (EAC).
In her address, H.E. Veronica Nduva, EAC Secretary General, highlighted that the EAC Heads of State have set an ambitious and achievable target to increase intra-EAC trade from 15% to 40% by 2030. She urged the private sector to promote the EAC as a unified trade bloc, emphasising that regional benefits outweigh national interests, with the EAC’s market of 312 million being far larger than individual national markets.
Hon. Gen (Rtd) James Kabarebe, Minister of State for Foreign Affairs in charge of Regional Cooperation, Rwanda, reiterated the commitment of EAC Heads of State to the integration agenda. He pledged to secure the progress made and to address the setbacks to intra-EAC trade and investments.
Mr. Dennis Karera, Vice Chairperson of EABC, stated that this meeting of the private sector, EAC Secretary General, the Minister of Trade and Industry, and the Minister of State for Foreign Affairs in charge of Regional Cooperation has resulted in a declaration outlining practical recommendations to move from rhetoric to action. “Our shared goal is to increase intra-EAC trade and strengthen Rwanda’s trade and investment ties with other EAC Partner States,” he said.
Hon. Prudence Sebahizi, Minister of Trade and Industry, Rwanda, reiterated the government’s commitment to partnering with the private sector in driving EAC integration. He emphasized the need to improve production and exports to meet regional, continental, and international market demands of goods and services.
In 2023, the total global merchandise trade by the EAC grew by 2.37%, reaching over US$80 billion, with intra-EAC trade growing by 13.1% to US$12.1 billion. Rwanda’s total trade grew by 20.3%, demonstrating the positive impact of ongoing reforms aimed at streamlining trade and improving market access.
This year the EAC is marking 25 years. The EAC has introduced several initiatives, including the e-Tariff toolkit and trade information portals, which provide the private sector with access to tariff structures and step-by-step guides on licenses, permits, and procedures for goods moving in and out of the region. Furthermore, the EAC has harmonized over 1,920 product standards across 80 sectors. The EAC’s Industrialization Policy aims to increase the manufacturing sector’s contribution to GDP from 8.9% to 25% by 2032.
H.E. Veronica Nduva praised the Government of Rwanda, under the leadership of H.E. President Paul Kagame, for hosting the second edition of the Biashara Africa AfCfTA Business Forum in Kigali. Under President Kagame’s patronage, the establishment of the world’s largest free trade area, the AfCFTA, began in March 2018 with the signing of the agreement in Kigali.
The Secretary General noted that AfCFTA presents opportunities for EAC Partner States to leverage the continental market, build regional industrial value chains, and increase intra-Africa trade.
The meeting brought together 150 business leaders and government officials from Rwanda, including members of the National Parliament, Permanent Secretaries from ministries, and the Director General of the Rwanda Revenue Authority, to discuss challenges, opportunities, and solutions to scale up intra-EAC trade and investments. Land-linked countries face unique challenges in capitalizing on the benefits of regional integration.
Discussions and presentations during the meeting focused on the liberalisation of air transport services, transport and logistics, manufacturing, tourism, and the movement of services and service providers. Key matters deliberated included the digital economy, upgrading transport networks, energy, road user charges, discriminatory levies and charges, stays of applications, work permits, and the One Tourist Visa, East African Payments System (EAPS), Single Africa Air Transport Market Agreement among others.
The meeting convened industry leaders, including Mr. John Bosco Rusagara, EABC Board Member, Ms. Linda Kalimba, EABC Board Member, Mr. Stephen Mbundu, EABC Chairperson Emeritus, Ms. Yvonne Makolo, CEO of RwandAir, Mr. Abdoul Ndarubogoye, President of the Long-Distance Truckers Association, Mr. Yves Ngenzi, Chamber of Tourism-Rwanda, Mr. David Rwigema, Chairman of Rwanda Freight Forwarders Association (RWAFFA), and Mr. Adrian Njau, Acting Executive Director of EABC.
About the East African Community:
The East African Community (EAC) is a regional intergovernmental organisation of eight (8) Partner States, comprising the Republic of Burundi, the Democratic Republic of Congo, the Republic of Kenya, the Republic of Rwanda, the Federal Republic of Somalia, the Republic of South Sudan, the Republic of Uganda and the United Republic of Tanzania, with its headquarters in Arusha, Tanzania. The Federal Republic of Somalia was admitted into the EAC bloc by the Summit of EAC Heads of State on 24th November, 2023 and became a full member on 4th March, 2024.
About the East African Business Council:
The East African Business Council (EABC) is the regional apex body of private sector associations and Corporates from the 8 East African countries. It was established in 1997 to foster the interests of the private sector in the integration process of the East African Community. EABC vision is a borderless East Africa for business and investment. The primary mission is to promote sustainable private sector-driven growth in the EAC. www.eabc-online.com
For more information, please contact:
Simon Peter Owaka
Senior Public Relations Officer
Corporate Communications and Public Affairs Department
EAC Secretariat
Arusha, Tanzania
Tel: +255 768 552087
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
OR
Patrick Moshi
East African Business Council (EABC)
9th Floor Mafao House, Old Moshi Road
P. O. Box 2617
Arusha, Tanzania
Tel: +255 27 2520162
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.eabc-online.com
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First published in this link of this souce.
