TradeMark East Africa has signed a partnership with African Union aimed at boosting intra-African trade and realisation of the ambitious Africa Continental Free Trade Area.
The agreement was signed by Amb. Albert Muchanga, Commissioner for Trade and Industry, AU and Amb. Erastus Mwencha, TradeMark EA Board Chair and Frank Matsaert, CEO, TradeMark EA.
Commenting about the development, Muchanga said, “AU is indeed excited to work with TMEA, renowned organisation that has implemented successful trade facilitation programmes in East Africa. We want to complement our efforts in implementing the ambitious boosting intra African trade programme, leverage TMEAs experience and ensure similar trade facilitation initiatives are implemented to boost trade and prosperity for the people in this region.”
On his part, Mwencha said: “This partnership with the African Union is an important milestone and embodies our vision for a prosperous Eastern Africa. TMEA can help fast-track implementation of the AfCFTA by supporting the African Union (AU) programme for Boosting Intra-African Trade (BIAT).
By implementing quick win measures to ‘thin’ borders and reduce the cost and time to trade along key corridors, TMEA will help keep momentum going for this ambitious initiative to be realised, while countries are involved in the longer-term exercise of negotiating trade and tariff regimes.”
TMEA’s operations across eight countries, working with government, private sector and civil society to address high trade costs in Eastern Africa and support export growth, is well-positioned to support the African Union on its vision for an Integrated, Prosperous and Peaceful Africa, driven by its own citizens and representing a dynamic force in the global arena.
The partnership prioritises areas of common interest to both organisations including Collaborate on the development of an Action Plan for the implementation of the Continental Free Trade Area (AfCFTA) for selected countries in Southern and Eastern Africa, Complement each other’s efforts in supporting the implementation of the Continental Free Trade Area (AfCFTA), Encourage in a joint manner the inclusion of the voice of the Private Sector in the negotiations and the implementation of the AfCFTA, Increasing export growth and diversification, Develop and monitor of trade/transport corridors to improve the flow of goods, services, people and information between countries and regions, including One Stop Border Posts (OSBPs) among others
TradeMark (Trade and Markets) East Africa is an aid-for-trade organisation that was established in 2010, with the aim of growing prosperity in East Africa through increased trade.
TMEA operates on a not-for-profit basis and is funded by the development agencies of the following countries: Belgium, Canada, Denmark, European Union, Finland, Ireland, Netherlands, Norway, United Kingdom and United States of America.
Source: Business Focus
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark East Africa.