Outgoing chairperson of the East African Community (EAC) Council of Ministers said the Customs Union has increased trade within and amongst partner states. Eriya Kategaya said that the Volume of intra trade in EAC increased from $1.52 billion in 2004 to $1.9 billion in 2007. “The figure could have been even higher but new emerging and lucrative markets in the Democratic Republic of Congo and Southern Sudan have attracted a significant share of EAC exports which itself is an added impetus and opportunity,” Kategaya said. He was presenting report of the council of ministers for the period to the 9th Summit of EAC Heads of State yesterday at Kigali Serena Hotel.
Outgoing chairperson of the East African Community (EAC) Council of Ministers said the Customs Union has increased trade within and amongst partner states.
Eriya Kategaya said that the Volume of intra trade in EAC increased from $1.52 billion in 2004 to $1.9 billion in 2007.
"The figure could have been even higher but new emerging and lucrative markets in the Democratic Republic of Congo and Southern Sudan have attracted a significant share of EAC exports which itself is an added impetus and opportunity,” Kategaya said.
He was presenting report of the council of ministers for the period to the 9th Summit of EAC Heads of State yesterday at Kigali Serena Hotel.
Rwanda and Burundi are expected to be fully integrated into the EAC Customs Union by next year.
While developments of infrastructure like roads, railway, communication and energy are still a serious impediment to investment and trade facilitation in the region, Kategaya said that the council is addressing this issue.
The report indicates a number of infrastructure projects under development which include; Arusha-Namanga-Athi river road project.
Other projects which are being developed in the energy include the East African Community Power Pool (EACPP), Kampala-Kigali-Bujumbura oil pipeline and Kenya-Uganda power transfer enhancement project.
Ends