Political Will Critical in Implementing the Ratified Integration Agreements

Addis Ababa February 08/2019 Political will, particularly removing non-tariff barriers and reduce time and cost of cross border transaction, is critical in implementing the ratified agreements of economic integration, African Development Bank (AfDB) said.

In an exclusive interview with ENA, AfDB Director-General for Eastern Africa Regional Center, Gabriel Negatu "the East African community is actively working on economic integration but there is still a lot more to be done."

Policy measures like non-tariff trade barriers that restrict imports and exports of goods or services through simple imposition of levies is a serious stumbling block for regional trade to thrive, he stated.

The economic benefit of promoting greater integration and bigger market is clear to everyone, he said, and added "but it is the politics that comes into the process and undermines it."

Gabriel pointed out that "We need our leaders to continue ratifying the free trade agreement and implement it as ratification is not enough."

Speaking of African countries trend in trading with one another, the Director-General said "East Africa is doing well but Ethiopia in particular is beginning to do that."

Mentioning that the level of trade between Ethiopia and Kenya is low, he urged leaders to take a bold move to enhance trading cooperation.

According to Gabriel, some Eastern African countries have streamlined many rules and regulations as a result of their colonization while Ethiopia has started the process though a lot more to be done.

He described the process of Ethiopia's economic integration and aligning trade regulations and policies as "the train has already left but there is still a lot more work to be done."

"I think we have achieved stability in East Africa, and with the bold initiatives of Prime Minister Abiy Ahmed has helped the remaining countries to come together which will at the same time help boost the economic integration," he noted.

East Africa, the fastest growing region, is projected to achieve growth of 5.9 percent in 2019 and 6.1 in 2020 as compared to 5.7 percent of the 2018.