EABC meets chair of the summit of EAC heads of states
The EAC News
Led by EABC Chairman Mr. Nicholas Nesbitt, the EABC Board Directors officially met HE Paul Kagame, President of the Republic of Rwanda and Chair of the Summit of EAC Heads of State at the Office of the President in Kigali, Rwanda.
In his remarks, Mr. Nesbitt appreciated HE President Kagame for hosting the EABC delegation and commended the Republic of Rwanda for being ranked 2nd in Africa in the World Bank’s ranking on Ease of Doing Business.
“Such milestones if achieved in other Partners States will make the region more attractive for investments,” said Mr. Nesbitt.
“Intra EAC trade is still low at 12%, compared to the EU at 67%. The private sector desires to partner more with governments to make the region attractive for investments, wealth and employment creation, uplifting East Africans out of poverty,” said Mr. Nesbitt.
“The potential regional market of 200 million consumers can only be accessed if businesses are facilitated and NTBs eliminated,” said Mr. Nesbitt
He further appreciated His Excellency’s support for private sector becoming an integral player in driving the EAC regional integration agenda and called for other EAC Heads of State to move in tandem to push the integration agenda.
The meeting called for the establishment of a mechanism to implement the agreed Summit directives that have stalled.
The meeting observed the need to review the EAC Customs Management Act to better facilitate trade and address NTBs.
The role of public-private dialogues was emphasized as a critical tool to address issues and restrictions to trading across borders.
Further, the meeting reiterated the urgent need to fast track the actualization of the AfCFTA and the full involvement of the private sector in AfCFTA negotiations.
Among other issues raised was the need to enforce resolutions made to liberalize EAC air space, implement the One Network Area, and quicken the issuance of work permits.
The meeting called upon the Summit to conclude the comprehensive review of the EAC CET.
HE Paul Kagame, President of the Republic of Rwanda and Chair of the Summit of EAC Heads of State recommended for close collaboration among the private sector in the EAC partner states to strengthen their voice to influence the policymakers.
The Chair of the Summit of EAC Heads of State recommended for a formalized mechanism through which the private sector will engage the EAC Council of Ministers.
The Chair of EABC formally invited His Excellency in his capacity as the Chair of EAC Summit to drum support and invite other Heads of State to participate in a regional business summit organized by the EABC scheduled to precede the Heads of State Summit in November 2019.
HE Paul Kagame welcomed the request by the EABC to have a permanent seat during discussions of the EAC Heads of State in recognition of their partnership role in the EAC regional integration as enshrined in the Treaty.
HE Paul Kagame emphasized the importance of political will to drive the integration agenda and deliver benefits to the East African citizens and businesses.
The meeting appreciated the role of development partners, particularly TradeMark East Africa (TMEA) in promoting trade, increasing exports, reducing the cost of doing business and enhancing competitiveness. In addition, the role played by GIZ in their contribution and commitment towards their support to SMEs and EAC regional integration agenda was appreciated.
The East African Business Council (EABC) is the regional apex body of Private Sector associations and Corporates from the 6 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. Vision: Borderless East Africa for business and investment. Mission: To promote sustainable Private Sector-driven growth. For more information about EABC, visit www.eabc.info.