The East African Business Council (EABC) has lauded the people and the Government of the Democratic Republic of Congo (DRC) following DRC’s admission into the East African Community (EAC).
Today, EAC officially admitted DRC into the trade bloc during the 19th Extra-Ordinary Summit of the Heads of State held virtually.
“We welcome the Democratic Republic of Congo to the EAC bloc and we are steadfast to ensure that the cost of doing business across the bloc’s borders is reduced,” EABC stated.
“EABC is steadfast to ensure the cost of doing business across EAC borders is reduced and businesses in DRC benefit from better trade facilitation at the ports of Mombasa (Kenya) and Dar es Salaam (Tanzania),” it added.
Following this milestone, trade is set to increase immensely as DRC shares its borders with five EAC partner States: South Sudan, Uganda, Rwanda, Burundi, and Tanzania.
Businesses in DRC will also benefit from trade facilitation at the ports of Mombasa in Kenya and Dar es Salaam in Tanzania.
The entry has also transformed the bloc into the most trade investment destination in Africa, which will offer a market-driven economy of 266 million people that will generate a gross domestic product of USD243 billion.
“This apex body looks forward to accessions in DRC to the East African communities by April 14, 2022, and improvement of the regional infrastructure connectivity plus the implementation of EAC commitments in order to unlock trade opportunities,” stated the council.
