Africa-Press – Tanzania. East African Business Council (EABC) Executive Director, John Bosco Kalisa has applauded Tanzania for ratifying the African Continental Free Trade Area (AfCFTA)and the EAC Protocol on Sanitary and Phytosanitary (SPS) Measures saying the move will boost intra-African trade, food safety and agribusiness in the EAC block.
Mr Kalisa congratulated the EAC member state on Friday morning, when the African Development Bank (AfDB) executive director for Kenya, Eritrea, Ethiopia, Rwanda, Seychelles, South Sudan, Tanzania and Uganda Cheptoo Amos Kipronoh paid a courtesy call to the EABC chief in Arusha.
July, this year, President Samia Suluhu Hassan reaffirmed Tanzania’s commitment to ratify the Africa Continental Free Trade Area (AfCFTA) and pleaded that the country would support the continent economic emancipation drives.
At a meeting with the Secretary General of the AfCFTA Secretariat, Mr Wamkele Mene, at the State House in Dodoma July, this year, Her Execellency promised that the State would cooperate with the body’s chief to achieve the mission of recovering the economy of the African continent.
A statement issued by the East African Cooperation said that AfDB and EABC have agreed to amplify the socio-economic role of the private sector under “the EAC Regional Integration Strategy Paper on matters such as the African Investment Forum, Elimination of Non- Tariff Barriers, Financial Integration, AfCFTA, Climate Change, 50 Million Women Speak project and Trade Finance.”
On the other side, Mr Kalisa commended the AfDB for investing in infrastructure development in the EAC- which he described it as a “catalyst for economic growth.”
He said that infrastructure reduces the cost of doing business and has spillover effects on trade and investments by facilitating the movement of goods and people.
He highlighted that infrastructure supports job creation and new business opportunities such as cross-border markets.
At the meeting, the AfDB regional executive Cheptoo said that the bank has invested in transport corridor development in the EAC region such as the Namanga, Holili-Taveta One- Stop Border Posts and Arusha bypass Road.
“He stated the AfDB has granted USD. 9 million to the EAC Secretariat for COVID-19, the statement added.
He elaborated that the block has abundant resources to generate clean energy such as the Julius Nyerere Hydropower Station, with potential for export to the Southern power pool.
According to EAC, the 2019 edition of the Africa Regional Integration Index (ARII) ranked the East African Community (EAC) as the most integrated bloc among the eight regional economic communities (RECs) recognized by the African Union.
