The Treaty for the Establishment of the East African Community emphasizes a people centered, market driven and private sector led integration process for accelerating regional growth, creating wealth and reducing poverty.
The role of the private sector is therefore anchored at all levels as a vehicle for the development of the economies of the EAC Partner States. The EAC Treaty places private sector development high on its agenda and aims at fostering regional development that is private sector driven, internationally competitive and people-centered in utilizing the region’s resources.
The private sector in EAC considers political stability, strategic location, the climate and the abundant natural resources as the most attractive features of EAC as an investment destination.
The private sector urges the EAC and its Partner States to continue creating a favourable business environment through addressing infrastructure issues, simplifying business processes, addressing corruption and ensuring stable human capital development.
The private sector calls for tax regime harmonisation within the EAC. They also call on the Partner States to fully implement the four freedoms i.e. free movement of goods, free movement of labor, free movement of services, and free movement of capital.