Consolidate regional market, forget about EU pact – Experts
President Museveni (right) chats with Tanzanian president John Magufuli at the sidelines of the African Union Summit in Addis Ababa, Ethiopia last week. The two are said to be working on salvaging the EAC-EU trade partnership
Uganda and the rest of East African community countries are better off consolidating trade amongst themselves rather than worrying about signing a trade agreement with EU, currently trying to come to terms with Brexit – exit of UK from the EU.
According to the Southern and Eastern Africa Trade Information and Negotiations Institute (SEATINI-Uganda), the regional countries should prioritise trade amongst themselves instead of trying to surrender its market to the EU through unfair trade agreement.
“It is important to appreciate the fact that while the EU market is important, the EAC market is of paramount importance for all partner states as it constitutes the largest market for the EAC member States and also offers better prospects for industrialisation and development of regional value chains,” reads the SEATINI – Uganda statement.