Magode (Right) and Kariisa after the press briefing
The East African Business Council (EABC) has reported a notable improvement in the movement of goods among the member states. According to John-Bosco Kariisa, the Executive Director of EABC, the movement of goods among member states has increased from 20 percent, recorded in September last year, to 23 percent.
He revealed this during the launch of the East African high-level business and investment summit meeting for 2023 which is scheduled to take place in Munyonyo, Uganda, between August 31st and September 1st, 2023. Kariisa acknowledged that while the current percentage of goods movement is still relatively low, it is expected to grow further due to the increasing political will from leaders to address trade barriers.
He noted that EABC is dedicated to eliminating all trade barriers and is showcasing the negative effects of these barriers on the citizens of the countries imposing them.
“What we are doing as EABC, through our evidence research, is to show our policymakers that waist we are going, has a detrimental impact on the lives of East Africans, for example, if you ban Uganda’s milk to Kenya, it’s not only penalizing the Ugandan producer, but also the Kenyan consumer because it makes the milk exported from other parts of the world expensive due to the high taxes. So you are penalizing your people, and that’s the message we are putting across as EABC,” he stated.
EABC’s interventions have resulted in the elimination of 257 non-tariff barriers, contributing to the continuous improvement in intraregional trade. Rebecca Kadaga, the Minister for East African Affairs, through State Minister Magode Ikwiya, expressed that the East African business summit will be a significant milestone in the region’s collective business efforts to strengthen its position in Africa and the global market.
Kadaga emphasized the vital role played by the private sector in the region’s development.
She called for policymakers to create a competitive and conducive business environment, as well as foster strong transactional ties within the region and with other African countries. “This summit is the premier EABC meeting, where East Africa will chart out a common agenda to take trade to high levels for increased prosperity. When a public-private partnership, is combined with sound policies, and proper regulations will create a conducive business environment for all,” she said. The outcomes of the meeting will be compiled into a communique to demonstrate the commitment to translating dialogue into action.
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