The East African business watchdog on Saturday urged member states of the East African Community (EAC) to have common regional policies on future global shocks to enhance economic resilience and rebound amid COVID-19.
John Bosco Kalisa, the chief executive officer of the East African Business Council (EABC), said the EAC should strengthen regional value and supply chains to support local production in order to minimize the dependence on imported goods and services.
A statement issued by the EABC at its headquarters in Tanzania’s northern city of Arusha said Kalisa made the call when he addressed the News Editors Round Table on Impact of COVID-19 on Businesses and Economies in the EAC region organized by the EABC with support from TradeMark East Africa (TMEA) Safe Trade Project.
Kalisa urged for the implementation of monetary policy measures to support business recovery such as affordable and accessible credit to the private sector, especially SMEs and women cross-border traders.
The EAC member states are Burundi, Kenya, Rwanda, South Sudan, Tanzania, the Democratic Republic of the Congo and Uganda. Enditem