AiBotNairobi, Kenya – Regional leaders in Eastern Africa have come together in a bid to boost economic growth and enhance regional trade in the region. Representatives from six African nations, including Kenya, Tanzania, Uganda, Rwanda, Burundi, and South Sudan, gathered at the 23rd Ordinary Session of the East African Legislative Assembly (EALA) to discuss pressing regional issues.
During the session, which took place in Arusha, Tanzania, delegates from the various nations focused on addressing infrastructure development, agriculture, and human resource development as key areas that require urgent attention. Addressing the issue of infrastructure development, the Director of Public Works in the Ministry of Transport, Infrastructure, Housing and Urban Development of Tanzania emphasized the need for a robust transport network in the region, stating that “upgrading the railway line between Mombasa and Kampala is crucial for the region’s economic growth.”
On the issue of regional trade, the Secretary General of the Common Market for East and Central Africa (COMESA) commended the region’s efforts towards the creation of a common market, saying that “the region’s economic growth and development are deeply connected to the strengthening of regional trade ties.” Delegates also stressed the importance of regional integration, arguing that a single market will facilitate the movement of goods and services across the region, promote competition and stimulate economic growth.
Notably, the meeting was an opportunity for member states to discuss regional economic integration and the benefits of a single currency, a move that has sparked debate within the region. The idea, championed by Tanzania and Rwanda, seeks to promote a single currency to simplify trade within the region and reduce transaction costs. Supporters of the idea argue that it will facilitate seamless movement of goods and services, promote economic integration and stimulate growth.
The region has made significant strides in the past decade with notable economic growth. According to a recent report by the World Bank, growth in the EAC has accelerated to 6.2% as of 2022, marking a significant increase from 4.3% in 2011. However, regional leaders have acknowledged that despite the gains made, the region still faces significant economic challenges such as the need for diversified economies, infrastructure development, and human resource development.
Regional leaders will reconvene in two months to discuss further progress on the initiatives discussed at the Arusha meeting and set out a new agenda for the region.