EAC moves to open region to free Africa trade

The East African Community (EAC) has moved to open up the region to free continental trade as envisioned in the now operational Africa Free Continental Trade Area (AfCTA).

The region is set to finalize the EAC Tariff Offer which sets the course for the elimination of 90 per cent tariff lines in the next decade.

The EAC Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI) has directed the EAC Secretariat to convene meetings with experts to finalize the tariff offer by December 15.

Presently, the tariff offer stands at 85.9 per cent against AfCTA modalities of 90 per cent.

“Regional Economic Communities are major building blocs in the realisation of the AfCFTA. EAC is keen on implementing policies, decisions, and directives, to ease trading under the agreement set to widen integration and increase Intra-Africa trade,” stated EAC Secretary General Peter Mathuki.

The finalization of the tariff offer is expected to give the business community in the region increased economies of scale through their access to cheaper raw materials from across the region.

The EAC Secretariat is also expected to revise the EAC schedule of specific commitments on trade in services and review the trade in services offers made by State and non-State parties for the AfCTA.

The Secretariat is also expected to undertake an assessment of the number of additional tariff lines that can be moved by each partner State from various categories.