USTR, East African Community Report Progress on Opening Up Trade
The Office of U.S. Trade Representative and the East African Community (EAC) issued a statement Oct. 19 saying they have taken important steps to advance the U.S.-EAC Trade and Investment Partnership, which they said enhances the U.S.-EAC trade and investment relationship. They said they agreed on a framework to move forward on the establishment of a Commercial Dialogue, which will be formally launched in late November.
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The EAC and the U.S. said they also agreed that their technical teams will meet as soon as possible for further consultations toward negotiation of a proposed investment treaty and a trade facilitation agreement. The technical teams will further discuss and agree on the trade capacity building assistance. The U.S. has already agreed to provide an additional up to $10 million over the next five years to the EAC Secretariat to support regional economic integration, they said.
The EAC and the U.S. announced this new Trade and Investment Partnership at the AGOA Forum in Washington earlier this year (see ITT's Online Archives 12041126). The initial items include a trade facilitation agreement, continued trade capacity building assistance, and a commercial dialogue, they said.