EAC urged to hasten admission of DR Congo to boost intra-regional trade

Nigerian traders
Photo: Pixabay

The East African Business Council (EABC), a private sector association comprising investors involved in exporting and importing, on Wednesday urged the East African Community (EAC) to fast track the admission of the Democratic Republic of Congo (DR Congo) into the trading bloc.

Peter Mathuki, CEO of the EABC said that despite its geographic proximity, EAC’s trade with the DR Congo is low.

“DRC will benefit from the larger EAC Common Market and Common External Tariff framework. It will also have access to seaports of Mombasa and Dar es Salaam at competitive rates. Their huge population of 81 million people also provides a vast opportunity for small and medium enterprises from the EAC region,” Mathuki said.

He was speaking during the launch of a study titled “the opportunities for trade in the Democratic Republic of Congo”, revealing trade opportunities that small enterprises in the region can tap into.

The report expounds on the trade opportunities in DR Congo, which has a potential market of approximately 81 million consumers, nearly half of the EAC population by pointing out the most sought after product categories.

The DRC applied for admission to join the EAC in June 2019. Enditem

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