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EAC exports to EU market hit $2.6 Billion in 2020
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By Monica Muema
EU exports to the EAC stood at USD 4.5 billion while exports were USD 2.6 billion, according to the latest data by the East African Business Council (EABC) which also showed that in 2019, EAC exports to the EU stood at USD 2.3 billion while imports at USD 4.29 billion.
EAC’s top exports to the EU include coffee, tea, flowers, tobacco, vegetable and fish while imports are machinery, electrical equipment, pharmaceutical and vehicles.
John Bosco Kalisa, EABC CEO said “EABC is committed to deepening trade integration and creating prosperity for East African by eliminating Non-Tariff Barriers to cross border business,” adding that the promotion of value addition and industrialization to increase the bloc’s exports to the EU.
Intra-EAC trade has exhibited resilience amid COVID-19 and new global dynamics of conflict and climate change. The Democratic Republic of Congo joining the EAC is also expected to boost the industrialization base of the region.
Other areas of priorities discussed include capacity building of trade facilitation agencies, digitalization of customs, evidence-based research, Market Access Upgrade Programme (MARKUP), and technical and financial support to the private sector associations.