Ugandan Officials, East African Business Council Hold Talks to Drive Regional Trade Growth

22nd February 2023 Arusha, Tanzania – High-level talks were conducted between Ugandan officials and the East African Business Council (EABC) in a bid to fortify regional trade and economic cooperation.

Vincent Waiswa, Permanent Secretary of the Ministry of Foreign Affairs of the Republic of Uganda, along with H.E. Amb. Richard Kabonero and H.E. Amb. Anne Katusiime Kageye, Head of the Uganda Consulate in Arusha, paid a courtesy visit to EABC headquarters in Arusha.

Mr. John Bosco Kalisa, Executive Director of EABC, reiterated the Council’s steadfast commitment to amplifying trade for enhanced prosperity in East Africa. He emphasized the paramount role of public-private partnerships in propelling socio-economic growth, underscoring the private sector as the driving force behind regional development.

“We appreciate the Ministry of Foreign Affairs Uganda for partnering in the East African Business Summit 2023 and the 19th NAM Summit Business Summit 2024,” said Mr. Kalisa.

“The EAC is the fastest-growing economic bloc, and EABC remains resolute in advocating for the elimination of non-tariff barriers to expedite EAC integration amidst geopolitical tensions.”

Vincent Waiswa, Permanent Secretary of the Ministry of Foreign Affairs of the Republic of Uganda, underscored the significance of intra-EAC trade and collaboration among partner states in aggregating exports to the African Continental Free Trade Area (AfCFTA) and the European Union (EU).

He highlighted shared resources such as Lake Victoria, which present abundant opportunities for export collaboration and aggregation.

Mr Waiswa also highlighted the positive progress made by EAC partner states on the One Network Area in telecommunication for voice and data.

Enhancing the interoperability of telecommunication services for mobile money transfer will facilitate business operations across borders, as the region anticipates the monetary union in 2031.

The discussions encompassed various areas, including the analysis of non-tariff barriers, private sector proposals to Joint Permanent Commission Meetings, statistics, the rollout of the AfCFTA strategy, and the role of peace in facilitating trade.

By EABC Team