EU, EAC Launch Three Projects To Strengthen Trade, Economic Ties

(MENAFN- IANS) Dar Es Salaam, Feb 7 (IANS) The European Union (EU) and the East African Community (EAC) has launched three key projects to strengthen regional integration, enhance trade, and foster inclusive economic growth.

The EAC said in a statement that the projects, with a total contribution of 8 million euros (about 8.3 million US dollars), will support the EAC's efforts to liberalize services, enforce competition policies, and improve institutional capacity, with a strong focus on empowering women and youth.

According to the statement, the first project dubbed "Leveraging Integration Frameworks for Trade in Services and Civil Society Organisations" will tackle barriers to trade in services by streamlining tourism regulations and advancing the mutual recognition of academic and professional qualifications across the region, and enhance civil society engagement in the economic integration process.

The statement noted that the second project will strengthen the EAC Competition Authority by improving the enforcement of competition laws, harmonizing regulations, and building institutional capacity, Xinhua news agency reported.

The third project, EU-EAC Technical Assistance, will bolster the capacity of the EAC Organs and Institutions to manage projects and improve public finance governance effectively, said the statement.

The EAC is an intergovernmental organisation that aims to promote economic, political, and social integration in the region, with partner states including Burundi, the Democratic Republic of the Congo, Kenya, Rwanda, Somalia, South Sudan, Uganda and Tanzania.

MENAFN07022025000231011071ID1109181060