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Friday, 18 December 2015

EAC, ITC to set up intra-African trade project

The Trade and Regional Integration Project (TRIP), for EAC, was announced by the EAC Secretary-General, Dr Richard Sezibera and ITC Executive Director, Arancha González on the margins of the World Trade Organization's Ministerial Conference in Nairobi, Kenya. The new initiative aims to strengthen existing efforts by East African Partner States for closer economic integration, including the East African Customs Union and the EAC Common Market. The TRIP for EAC project also sets out to support the African Union's Action Plan for boosting intra-African trade and the recently agreed tripartite free-trade agreement among the Common Market for Eastern and Southern Africa (COMESA), the EAC and the Southern African Development Community (SADC). Specifically the project aims to boost the competitiveness of EAC-based small and medium-sized enterprises (SMEs), enabling them to step up intra-and inter-regional trade. The project will have a strong focus on women's economic empowerment, and will also support wider private-sector development in the EAC to spur deeper economic integration, including agriculture, information and communication technologies (ICT) and tourism.

Source: Daily News