EAC and Investment & Private Sector Development
With the aim of harnessing the investment potential to promote economic growth and development in the region, the EAC Partner States have agreed to cooperate in the areas of Investment and Industrial Development. This cooperation seeks to attract investments into the region through efficient utilisation of established industries to harness the full production potential in the region. Furthermore, the EAC Treaty recognises the role of the private sector as one of the key stakeholders to realise a market-driven and people-centred integration. Providing an enabling environment for the private sector to take full advantage and accrue the benefits of regional integration is a priority for the community.
The German Government supports this EAC Sector under Core Area 1 of EAC-German cooperation as defined by BMZ 2030 – “Sustainable Economic Development, Training and Employment” in the Intervention Area of “Socially and Environmentally Sound Supply Chains, Trade and Sustainable Infrastructure”. The cooperation directly contributes to implement three of the eight priority areas defined by the 6th EAC Development Strategy, namely “Customs Services that Facilitate Legitimate Trade and Investment”, “Strengthening Productive and Social Sectors”, and “Awareness Creation”. The BMZ 2030 reform strategy focuses on a new quality of cooperation. More information on BMZ 2030 can be found here.