The East African regional business and private sector watchdog said on Friday the African Continental Free Trade Area (AfCFTA) is set to boost Eastern Africa’s textile and clothing exports by 100 percent.
“The AfCFTA is set to boost Eastern Africa manufactured exports to the rest of Africa,” said Denis Karera, the vice-chairman of the East African Business Council (EABC).
The statement said Karera made the remarks during a webinar on the AfCFTA-Opportunities for the private sector, organized by the EABC in partnership with the United Nations Economic Commission for Africa (UNECA).
Karera urged the East African Community (EAC) member states to finalize and submit tariff offers under the AfCFTA to enable the EAC bloc to tap into the 1.3 billion continental market with a combined gross domestic product of 3 trillion U.S. dollars, said the statement.
EAC member states are Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan. Enditem