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US Department of Commerce | US – EAC Trade and Investment Partnership and the Commercial Dialogue

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Posted July 9, 2013 by Ugandan Diaspora News Team in Africa ~ 1,988 views

     

The United States and the East African Community (EAC) are pursuing a New USA – EAC Trade and Investment Partnership which will build on the foundations of our existing trade and investment relationship, including the African Growth and Opportunity Act (AGOA) and the USA -EAC Trade and Investment Framework Agreement (TIFA).

Under this new partnership the US and the EAC will work together to provide new business opportunities to USA and EAC firms by reducing trade barriers, improving the business environment, encouraging open investment regimes, and enhancing our two-way trade.

The initial items the US and EAC have agreed to explore under this new umbrella partnership include a regional investment treaty, a trade facilitation agreement, and continued trade capacity building assistance. As part of the partnership, the two sides launched the USA –EAC Commercial Dialogue, a mechanism to bring the private sector together with policy makers and increase opportunities for trade and investment.

Chaired by the U.S. Department of Commerce, this is the first Commercial Dialogue that Commerce has established with African partners and the first one to be conducted along regional lines. The Commercial Dialogue is also a major component of the Doing Business in Africa (DBIA) Campaign, a major component of the Obama Administration’s U.S. Strategy Towards Sub-Saharan Africa, helping U.S. businesses to seize trade and investment opportunities on the continent.

The USA-EAC Commercial Dialogue aims at

  •  Better linking the private and public sectors to take advantage of business opportunities, through targeted trade and investment promotional activities.
  • Advancing open and predictable business climates through providing a distinct forum for addressing technical barriers to trade (TBTs), non-tariff trade barriers (NTBs) and other constraints to trade.
  •  Creating a mechanism for engagement and consultations between the EAC and USA private and public sectors on issues being addressed in the context of the broader EAC-USA Trade and Investment Partnership.
  • Addressing infrastructure development and building the EAC region’s capacity so as to promote intra-regional and international trade.

Based on private sector input, the initial agenda of the Commercial Dialogue includes: trade-related infrastructure, agro-processing/agribusiness, market access, service sectors (including financial services, business process outsourcing, tourism and ICT), energy, trade facilitation and trade capacity building (standards harmonization; protection of and enforcement of intellectual property rights and entrepreneurship development). Private sector is currently working to prioritize items on the agenda.

Source — East Africa Desk, US Department of Commerce


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Ugandan Diaspora News Team

Ugandan Diaspora News Online is an independent, non political news portal primarily aimed at serving Ugandans who work and reside outside Uganda. Our aim is to be a one stop shop for everything Ugandan and the celebration of our Ugandan heritage.

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