The East African Community (EAC) has made significant gains in reducing trade bottlenecks and boost doing business in the bloc, TMEA has said.
According to TradeMark East Africa, Chief Executive Officer, Frank Matsaert the region has come a long way in improving the ease of doing business in the bloc.
TMEA recently concluded a project where the Busia One Stop Border Post (OSBP) located on the Kenya —Uganda border was jointly launched by Kenya’s President Uhuru Kenyatta and his Ugandan counterpart Yoweri Museveni.
The facility was put up from 2012 with funding from the UK Department of International Development (DFID) and the Global Affairs Canada, through the cross-border business advisory organisation Trade Mark East Africa (TMEA).
“The OSBP project has further smoothened partnerships with private sector through Joint Border Committees (JBCs) and the National Trade Facilitation Committees. The streamlining of activities has led to a reduction of the average border crossing time from over 72 hours to less than six hours,” KRA said in a statement on Saturday.
Mr Matsaert was speaking during the a regional trade forum (https://EATDF.trademarkea.com) at Speke Resort and Conference Centre in Munyonyo, Uganda hosted by TMEA.
“Through the forum, we will be reviewing achievements made so far and exploring solutions to key trade challenges.” he said.
TradeMark Eastern Africa has kicked off its second phase of infrastructure development, trade facilitation and private sector growth (2018-2023) with a budget of about $380 million .
This serves as an opportunity to reflect on the progress that East Africa has made and the priorities that the region should focus on to unlock its potential and compete in global trade.
Key speakers expected at the forum include Uganda’s President Yoweri Kaguta Museveni, US Ambassador to Uganda Ms. Deborah Malac, Denmark Ambassador to Uganda Mr. Mogens Pedersen and Finland Ambassador to Kenya Ms. Tarja Fernandez. Also expected at the forum are Dr. Mukhisa Kituyi the Secretary General, UNCTAD; Liberat Mfumukeko, Secretary General, East African Community and Dorothy Tembo, Deputy Director, International Trade Centre among others.
Among the topics that will be addressed at the forum include – e-government for trade, trade logistics, East African ports and rail, among others.
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