Kalonzo pushes for larger regional market

Great Lakes countries should integrate their economies for faster growth, Vice-President Kalonzo Musyoka said on Thursday. He said underdevelopment will continue to haunt the countries until a larger regional market was born.

Mr Musyoka said the progress was also hampered by the fact that some of the countries have recently emerged from conflicts and needed to invest in peace and reconciliation efforts to create an enabling environment for foreign investors.

The Vice-President was speaking at the opening of a donor table conference for the Great Lakes Region in the Burundi capital, Bujumbura.

Mr Musyoka called for cross-border investments and joint research initiatives to develop the manufacturing capacity of the Great Lakes region.

Security pact

He reiterated the importance of the pact on security, stability and development in the Great Lakes region that was signed in Nairobi in December 2006.

“Member states declared their determination to transform the region into a hub of sustainable peace and security. Now that the region is enjoying relative peace, we must move fast to bring the peace dividend to our people,” Mr Musyoka said.

He praised the role played by development partners especially the “group of friends bringing together major donor agencies” for mobilising resources for investment in the Great Lake Region.

Zambian President Rupia Banda, chairing the conference, called for greater involvement of the international community in the development of the region.

“ It is time we witnessed bigger inflows of direct foreign investment. That is the only way we can lift our people out of poverty,” President Banda said.