Uganda is set to host the East Africa Business Council (EABC) Summit from August 31 to September 1, 2023, at the luxurious Speke Resort Hotel Munyonyo in Kampala.
The revelation was made during a press conference held at the Ministry of East Africa Community Affairs in Kampala by the EABC Chief Executive Officer, John Kaliisa on Tuesday, who was accompanied by the state Minister for East Africa Community Affairs, James Magode Ikuya and the EAC business Community among others.
“Over 500 participants are expected to attend the Summit drawn from the EAC block and the entire African Continent to discuss various trade opportunities and challenges facing the private sector”, said Kaliisa. He said among the challenges to be addressed at the summit include non- tariff trade barriers still existing among EAC member states and harmonization of the tax regimes among others.
He said COVID 19 Pandemic impacted on regional trade, where EAC lost 13 percent of revenue from cross border trade, but said the problem is being addressed through joint venture partineships of the EAC member states.
“Over 257 non- tariff barriers have been removed within the EAC block but more is needed to address the remaining”, he added.
Minister Ikuya said Uganda stands to benefit from the EABC summit as Ugandan business people will have a chance to network with delegates from across the EAC bloc and the entire continent. He said Uganda has abundant Agriculture and livestock products to sell within the EAC block and beyond.
“Currently Uganda is venturing into exporting milk to West African Countries; such as Ghana and Nigeria”, he said.
Agaba Moses, the CEO of FPRO business company and one of the organizers highlighted some of the challenges to include; political differences, riots and insecurity among a few EAC member states, which should be addressed.
The outcome of the Summit resolutions will be communicated to the EAC Heads of States Summit, according to organizers of the summit.
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