FOR IMMEDIATE RELEASE
Arusha, Tanzania 20th
November 2019:
We, the East African
Business Council (EABC) have gathered here today to give you an update of the upcoming
High Level Business and Investment Summit on 28th- 29th
November 2019 aimed at making East Africa a leading trade and investment
destination and how to increase intra EAC trade.
This year, the East
African Community (EAC) is celebrating 20 years since its revival, marking the signing of the Treaty for the
Establishment of the East African Community which was signed on 30th
November 1999.
¾
Article 7 of the Treaty for the Establishment of the EAC states
on people-centered and market-driven cooperation as a principle to govern
practical achievements of the objectives of the EAC integration process.
¾
Article 128 emphasizes on strengthening of the Private Sector as
a key partner in the EAC integration.
The Private Sector is an integrated and true partner in the EAC regional
integration process. It is the engine for economic growth, wealth and job
creation supporting tax revenue collection critical to delivering public
services.
This year, therefore, is a
moment for all East Africans, especially the private sector, to reflect on how
far we have walked the journey of integration and how to make it even better
for the welfare of the common citiyen.
As you are all aware, EAC
is one of Africa’s fastest-growing regional blocs that registered an economic
growth of 5.7 percent in 2018.
While we have achieved
many milestones, such as the establishment of the Single Customs Territory and
One-Stop Border Posts (OSBP), which have eased the free movement of persons and
goods and facilitated trade, there are still several challenges to be addressed,
including reducing Non-Tariff Barriers
(NTBs), protectionist tendencies by Partner States, and delays in harmonization
and domestication of EAC-agreed decisions and directives.
But the question is: How do we make business the top agenda for the
Community going forward and how the Private Sector can be in the driving seat of the EAC regional integration
process?
As the voice of the
Private Sector in East Africa, we are committed to driving the EAC integration
process through our high-level public-private dialogue engagement and platforms.
Lately we had engagements
with:
- EAC Ambassadors in Tanzania on Economic Diplomacy
- Meeting with EAC Heads of State
- theEAC Council of Ministers
This year, we have organized
the High-Level Business and Investment to put Business as the Top Agenda that
defines our Community with the aim of coming up with an economic agenda for our
region.
The Business Summit will
discuss and address some of the challenges hindering businesses to thrive and will
be held on the 28th and 29th of November at Gran Meliá
Hotel in Arusha, Tanzania. The event will take stock of our achievements over the
last 20 years as a result of EAC integration, look at the challenges of doing
business regionally, and come up with future outlook for the region.
As the leading economic
forum in the EAC, this Business Summit will bring together leading CEOs,
Industry Champions, and regional investors to engage with high-level policy
decision-makers, including the EAC Secretary-General, the EAC Council of
Ministers and the East African Legislative Assembly.
The theme for the business
summit is EAC@20: Private
Sector-Driven Regional Integration for increased intra-EAC trade and
investments.
This theme is anchored at enhancing
the important role of the private sector as a true partner in regional policy
and decision-making organs of the EAC for increased trade, investment and
industrialization.
The Business Summit will
focus on
v Trade and
Investment Climate - Making East Africa
a Leading trade investment Destination
v Harmonization
of Policies - Fears, Benefits and
Practical Way Forward.
v Enhancing Public Private Collaboration
v The role and
participation of the EAC in the African Continental Free Trade Area (AfCFTA)
v Use of Digital Economy to support Business
v Strengethening and supporting Small &
Medium Sized Enterprises (SMEs)
v Industrializations and value chains as a
strategy to increase intra EAC trade.
We look forward to engaging
with the Heads of State in this Summit and Senior Government Officials on solutions
that will increase intra-EAC trade, investments and industrialization as well
as position the EAC well for the African Continental Free Trade Area (AfCTA).
High on the agenda include:
·
implementation of the directives of the Summit,
·
One Regional Air Space,
·
finalizing
the Common External Tariff,
·
the review of the Trade Remedies Committee,
·
ratification of the
Sanitary and Phytosanitary Standards (SPS) Protocol (with specific timelines)
·
Enhancing the role of the
Private Sector as true partners in the regional policy and decision-making
organs of the EAC and in AfCFTA negotiations.
The Resolutions of the
Business Summit will also be submitted to the EAC Council of Ministers for the delivery
of quick wins for the region in a bid to increase intra-EAC trade and
investments.
The High Level East
African Business and Investment Summit is co-organized in close collaboration
with the respective EAC Investment Promotion Agencies and EABC National Focal
Points, namely the Federal Chamber of Commerce and Industries Burundi (CFCIB),
Kenya Private Sector Alliance (KEPSA), Rwanda Private Sector Federation (PSF),
South Sudan Chambers of Commerce Industries and Agriculture (SSCCIA), Tanzania
Private Sector Foundation (TPSF) and Private Sector Foundation Uganda (PSFU).
Safal Group, Coca Cola, TCC, Motisun Group, Tanzania Chambers of Commerce Industries and Agriculture (TCCIA), BDI - Federation of German Industries, GIZ - German Development Cooperation, International Trade Centre (ITC) and TradeMark East Africa (TMEA) are among supporting partners of this upcoming High-Level East African Business and Investment slated for 28th and29th November 2019 in Arusha, Tanzania.[DK1]
Ends…. /
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.
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).
For more information, visit www.eabc.info
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