EAC plans talks on 26-country free trade area
President Uhuru Kenyatta with EAC Ministers for Foreign Affairs when they paid him a courtesy call at State House, Nairobi. From left - Cabinet Secretary Foreign Affairs, Amina Mohamed, Minister for State for Foreign Affars-Uganda Hon Asuman Kiyingi, Minister for Foreign Affairs- Tanzania Hon Bernard K Membe, Cabinet Secretary for East African Affairs, Commerce and Tourism Ms Phylis Kandie, Minister for East Africa Community- Rwanda Hon Jackyline Muhongayire, Deputy Secretary in Charge of Political Affairs Mr. Charles Njoroge and Minister for Foreign Affairs- Burundi Hon Laurent Kavakure.
What you need to know:
- The East African Community is gearing up to begin talks with two other African regional economic blocs as part of a process aimed at establishing a 26-country free trade area.
- Establishment of the trade area would create a market of about 527 million people. The countries in the region have an estimated cumulative Gross Domestic Product of Sh53.32 trillion ($624 billion), or about 58 per cent of the combined GDP of African Union member states.a
The East African Community is gearing up to begin talks with two other African regional economic blocs as part of a process aimed at establishing a 26-country free trade area.
A notice in newspapers yesterday called on consultants to develop a unified position on trade matters for the five EAC partner states as they prepare to sit at the deal-making table.
“…EAC wishes to contract a Trade Policy and Tripartite FTA co-ordinator to facilitate the EAC partner states to develop EAC negotiation positions prior to engaging at the tripartite level,” read the statement in part.
The tender is sourced through donor agency, Trade Mark East Africa.
The tripartite summit is an umbrella body for the EAC, the Common Market for Eastern and Southern Africa (Comesa) and the Southern African Development Community (SADC).
Since 2005, member countries from the three economic blocs have been working towards the establishment of a free trade area with an eye on expanding markets for their goods and easing the movement of people across borders.
MEETINGS LAST YEAR
In December last year, experts from the countries met in Mauritius and agreed on various FTA regulations covering rules of origin as well as eliminating barriers of trade. A meeting in December set the timetable for the three blocs to begin talks on the actual tripartite FTA treaty.
Establishment of the trade area would create a market of about 527 million people. The countries in the region have an estimated cumulative Gross Domestic Product of Sh53.32 trillion ($624 billion), or about 58 per cent of the combined GDP of African Union member states.
Ultimately, the tripartite FTA is expected to feed into an African Union vision to establish a seamless continental market.
For member states of the EAC, setting up of the FTA will eliminate confusion and competing interest borne out of overlapping membership in various regional economic blocs. Kenya and Uganda are, for instance, also members of Comesa while Tanzania is also in a SADC member.
