India and East African Communities (EAC) have set a joint conference proposed by the two parties to boost trade investments in EAC.
“We are geared toward investments and there are opportunities which we can explore together,” the EAC secretary general Libert Mfumukeko said. Among the sectors EAC wants India to invest in its ICT, agriculture and capacity building. The East African Business Council (EABC) based in Arisha is an apex body to private sector associations. To strengthen this, potential investors from South Asia would be linked to the EABC.
Ambassador Mfumukeko made the pledge during a meeting with the Indian High Commissioner to Tanzania, Mr Saniv Kohli. He said that his country was in full support of the EAC ideals and lauded the regional organization for developing policies and programs aimed at improving the living standards of their people.
India is the second strongest economy in Asia after China and has been a traditional East African trading partner for many years. “Regional integration is a highly effective means of promoting prosperity through increased trade and investment, ” Kohli noted.