East African Community partner states have been urged to allocate more resources to support small and medium enterprises in the region to enhance regional intra-trade.
During the 7th EAC Secretary General’s Forum held in Nairobi bringing together civil society, interest groups and private sector, stakeholders called on partners states to develop inclusive policies prioritizing small-scale farmers in green initiatives as well as enhance training programmes on trade procedures and documentations.
“The insights shared over the past days on the sub-themes have not only deepened our understanding on the challenges but have also illuminated a clear path forward. The practical recommendations, the good practices shared and the lesson learned from the last 25 years of regional integration are invaluable,” said Abdi Dubat, EAC Affairs Principal Secretary.
According to speakers at the forum, SMES have been identified as engines to drive regional manufacturing and industrialization agenda.
Statistics by EAC indicate that last year, Intra-EAC total trade grew by 13.1pc to $12.1 billion with the percentage share of intra-EAC trade to EAC total trade increasing to 15pc.
At the forum, partner states were also urged to invest in local manufacturing capacity for pharmaceuticals, aiming for significant production, invest in expanding digital infrastructure in rural areas to enhance access for SMEs and implement policies encouraging digital adoption and create a favorable regulatory environment.
In order to encourage integration and ensure seamless cross border trade, deployment of a regional electronic payment system was identified as a priority.
“I am happy to note that a number of our partner states already have the national switches for payment solutions. We are waiting to embark on a regional switch that will enable easy trade across border because our trade has seen an increase in number, both trade with the rest of the world and intra-EAC trade,” said Veronica Nduva, EAC Secretary General.
Other recommendations include development of a unified policy for local content across member states to better support local businesses, leverage technology in tourism to connect local providers with international markets.
During the 7th EAC Secretary General’s Forum, eight entrepreneurs and innovators from each EAC partner state were awarded Ksh 2.03 million each to help them scale up.
