DAR ES SALAAM, May 10 (Xinhua) -- The East African Business Council (EABC) said on Tuesday that trade ties in the East African region are poised to increase significantly following the admission of the Democratic Republic of the Congo (DRC) into the regional block.
A statement issued by the EABC said in 2020, EAC countries imported goods worth 49.2 million U.S. dollars from the DRC while they exported goods worth 584 million U.S. dollars to the DRC.
The EABC is the regional apex body of private sector associations in the East African region with a single purpose of driving the EAC integration process through trade and investment.
Top EAC exports to the DRC include lime and cement, iron and steel, tobacco, beverages, spirits and vinegar, animal or vegetable fats and oils, wheat gluten, sugars and confectionery, plastics, and soap among other products, said the statement.
DRC's main exports to EAC include wood, plants, seeds, fruits, re-melting scraps of iron or steel, and natural sands, among others, said the statement.
John Bosco Kalisa, the EABC chief executive officer, said DRC's joining the EAC has paved the way for waiving visa fees and improvement of regional transport infrastructure.
"This is set to reduce the cost of doing business," said Kalisa, adding that currently, Tanzanians and Ugandans entering DRC have to pay for a visa valid for 30 days charged at 50 U.S. dollars and vice versa.
DRC was admitted into the EAC in March 2022, joining Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda into the regional bloc. ■