Wealth and Prosperity comes
from Trade – says H.E. Yoweri Museveni
·
The EAC Must Embrace Free Trade; it's is Critical to the
Survival of Partner States-
says H.E. Yoweri Museveni
·
Government
Partnership with Private Sector is vital for Wealth Creation and
Prosperity in the EAC
Entebbe, Uganda, 24th
August 2019:- The East
African Business Council pays a courtesy visit to H.E. Yoweri Kaguta Museveni, President of the Republic of Uganda
and Member of the Summit of EAC Heads of State at the Entebbe State House,
Uganda.
Leading the EABC delegation,
Mr. Nick Nesbitt, EABC Chairman, was accompanied by Mr. Patrick Bitature, PSFU
Chairman and EABC Board Directors namely Mr. Mwine Jim Kabeho, EABC
Vice-Chairman & Director, Madhvani Group of Companies, Hon. Peter Mathuki,
CEO EABC, Mr. Chris Diaz, EABC Board Director & Group Director Bidco Africa
Ltd, Mr. Godfrey Simbeye, CEO Tanzania Private Sector Foundation (TPSF), Mr.
Gideon Badagawa, CEO PSFU, Mr. Simon
Kaheru, EABC Board Director, Ms. Merian Sebunya, Director PSFU & Member
EABC, Ms. Waturi wa Matu, Senior Director, TradeMark East Africa and Mr. Moses Ogwal, PSFU.
“Your Excellency, first and foremost allow me,
on behalf of the business community and private sector in East Africa
congratulate you and more sincerely thank you not only for engaging closely
towards a common vision with your counterparts in the other EAC Partner States
but also for being a steadfast believer in regional integration,” said Mr. Nick
Nesbitt.
Mr. Nesbitt
further appreciated H.E. President Museveni for resolving border misunderstandings
for the common good of the East African people as enshrined in the Treaty.
“This will go
a long way in instilling confidence to the citizens and business community,”
said Mr. Nesbitt.
He further said
EABC is a respected coordinator and holds respective dialogue with EAC governments
with balanced regional views and policy stance. He urged for closer government
partnership and involvement with the private sector in policy formulation to
enhance the competitiveness of the EAC region, value addition in agriculture,
mining & services sectors among
others as well as strengthening regional value chains.
Mr. Nebsitt engaged H.E. President Museveni on the need and
importance to fast track the comprehensive
review of EAC CET; Liberalization of Opens Skies; One Network Area on Telecommunication;
Harmonization of Standards in the EAC; Strengthening the EAC Secretariat on enforcement
of laws; Market access with Democratic Republic of the Congo; Transport
interlinkages in the region - Road, Rail and Water (lake Victoria); Inter-governmental
trade dispute resolution mechanism and closer government involvement and government
partnership with the private sector.
“A healthy and vibrant private sector will
support social and economic development of the EAC. Involvement and partnership
with private sector in budget planning process will allow the growth of local
& regional value chains, hence reducing the imports gap in the EAC region,”
said Mr. Nesbitt.
“Comprehensive review of the
EAC Common External Tariff (CET) is yet to be finalized four years down the
line adversely affecting intra-EAC trade” said Hon. Peter Mathuki, EABC CEO.
“Liberalize the incoming cargo
flights as it will increase cargo volume supporting exports of EAC
horticultural products,” urged Ms. Waturi Matu, TMEA.
In
his remarks, H.E. President Yoweri Museveni reaffirmed
the importance of partnership with the private sector. “Where does wealth creation
come from? Prosperity comes from trade! Commercial Agriculture, Industry,
Services, ICT” said His Excellency.
H.E. President Museveni re-emphasized
that there is no serious industry that can survive on the internal market alone,
free trade is the minimum leaders can do to uplift East African livelihoods.
“Private sector is the dynamic and active
element that unites the factors of economy i.e. land, natural resources and labour.
The private sector brings on board entrepreneurship and capital,” said H.E. President
Museveni.
H.E. President Museveni advised
for a common strategic ideology for all East Africa .i.e. All Governments
should see the primary interest is to promote prosperity, therefore Trade and partnership
with Private Sector. H.E. further elaborated that there are no future markets
for East African good and services without free-trade in East Africa Community,
Africa and Globally. No country’s internal market only is sufficient and viable
to survive.
H.E. President Museveni reiterated
his commitment to champion the finalization of the comprehensive review of the
CET with a focus
on encouraging industrialization; Harmonization
of Standards; Support EABC to be granted Headquarter Agreement with the United
Republic of Tanzania; Improve efficiency and affordability of air passenger and cargo transport in the region and look at the potential of Lake Victoria transport infrastructure such
as incentives to spur investment in the water transport sector.
The EABC Chairman and Board
also met H.E
Salva Kiir, President of the Republic of South Sudan during the courtesy call
to Entebbe State House. EABC requested H.E President Salva Kiir to continue strengthening
Private Sector in the Republic of South
Sudan and enhancing security to improve trade and investments between other EAC
partner states and the Republic of South Sudan.
About East African Business
Council (EABC)
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. EABC was granted observer status in organs and activities of the
East African Community (EAC) and therefore, participates in various sectoral
meetings, meetings of the Coordination Committee, the EAC Council of Ministers,
and the Summit of the EAC Heads of State; with a view to ensure that the agenda of the Private Sector is
well articulated and received by the policymakers.
Vision: Borderless East Africa for business and investment.
Mission: To promote sustainable Private Sector-driven growth.
EABC Membership is open to all national and regional associations as
well as Corporates with interest in the EAC integration process or operations in the region. At the national level, EABC
activities are coordinated through the EABC
National Focal Points. These are Federal Chamber of Commerce and Industries
Burundi (CFCIB), Kenya Private Sector Alliance (KEPSA), Rwanda Private Sector
Federation (PSF), Tanzania Private Sector Foundation (TPSF) and Private Sector
Foundation Uganda (PSFU).
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