ARUSHA: MINISTERS responsible for Trade, Industry, Finance and Investment from East African Community (EAC) partner states have endorsed a package of measures aimed at boosting regional trade, attracting investment and accelerating industrial development across the bloc.
The agreement was reached during the 48th Meeting of the Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI), held yesterday at the EAC Headquarters in Arusha.
The EAC through SCTIFI is a critical organ for coordinating and overseeing the implementation of trade, industry, finance and investment policies. Its decisions continue to play a critical role in advancing the EAC Common Market and positioning East Africa as a competitive hub for trade and investment on the continent.
According to a statement shared to the media, the high-level meeting followed a series of technical engagements, including expert sessions held from Friday to Monday and a subsequent meeting of Permanent Secretaries on Tuesday and Wednesday.
These preparatory meetings reviewed key regional trade and investment matters and submitted recommendations for ministerial consideration and approval.
The Tanzanian delegation to the meeting was led by Deputy Minister for Foreign Affairs and East African Cooperation, James Millya, alongside Deputy Minister in the President’s Office responsible for Planning and Investment Dr Pius Chaya.
Others included Deputy Permanent Secretary in the Ministry of Foreign Affairs and East African Cooperation, Ambassador Said Shaibu Mussa, who also serves as Acting Permanent Secretary for East African Cooperation affairs, as well as Zanzibar Ministry of Trade and Industrial Development Permanent Secretary Dr Habiba Hassan Omar and other senior government officials.
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During the deliberations, the ministers received, discussed, and adopted recommendations from key EAC technical committees, including the Customs Committee, Standards Committee, Investment Committee, Competition Committee, and Industrial Development Committee.
The recommendations are aimed at strengthening the implementation of policies and programmes designed to expand intra-regional trade, attract investment, and promote industrialisation among Partner States.
A major highlight of the meeting was the endorsement of the revised EAC Rules of Origin. The updated framework is expected to safeguard markets for goods produced within the region, increase the use of locally available raw materials, promote value addition industries, generate employment opportunities, and improve the competitiveness of EAC products in regional and global markets.
The ministers also agreed to intensify efforts to eliminate Non-Tariff Barriers (NTBs), in line with directives from the 25th Summit of EAC Heads of State.
This move is expected to reduce the cost of doing business, shorten cross-border clearance times for goods and services, and improve the overall investment climate within the Community. The outcomes of the meeting are expected to further strengthen regional integration efforts and drive East Africa’s transformation into a vibrant and globally competitive economic bloc.