MSMEs are the backbone of regional economic development, says South Sudan Vice President
JUBA, November 1, 2024 — The Vice President of the Republic of South Sudan for the Economic Cluster, Dr. James Wani Igga, has said that the Micro, Small and Medium Enterprises [ MSMEs ] are the backbone of economic growth in East Africa and the key to inclusivity in wealth creation.
Speaking during the official opening of the 24th EAC MSMEs Trade Fair in Juba, South Sudan days ago , Igga underscored the critical role that MSMEs play in driving economic growth by creating jobs and fostering innovation.
“It is worthy to emphasise the importance of trade fairs and exhibitions like this one in creating opportunity for exhibitors to showcase their product, access new market and form cross border partnerships,” said the Vice President.
He called upon all the Partner States to formulate policies that facilitate free trade, free investment and free movement of goods and people across the borders with single objective of realisation of the vision of the Community.
He stressed the importance of increasing efforts to unlock the transformative potential of MSMEs by connecting them to the opportunities available under the single African Market facilitated by free movement of persons, goods, services and investment across national borders.
Igga reaffirmed South Sudan’s commitment to implementing policies that support MSMEs.
“This includes improving infrastructure, and technology resources, ensuring that businesses can grow and compete both locally and internationally,” he said.
He said that the objective of MSMEs is to show how the collective expo can build an integrating regional economy that can compete in the continent as well as globally.
On her part, the EAC Deputy Secretary General in charge of Customs, Trade and Monetary Affairs, Annette Ssemuwemba, said that the 24th MSMEs Forum is more than an exhibition but an opportunity for small and medium scale traders to shine, connect and grow from local artisans to tech-savvy innovators.
“Micro, Small and Medium Enterprises [MSMEs] play a crucial role in the economic development of East African countries, accounting for 90 percent of businesses and 80 percent of employment especially among youth and women and are becoming hubs of innovation,” said Ssemuwemba.
Ssemuwemba said that as the EAC celebrates 25 years of existence, the MSMEs trade fair is one significant milestone that the EAC has achieved.
“I am informed that the registered number at this year’s trade fair business persons is standing at 1,500. This being the first time Juba is hosting such event with such large numbers and participation of all eight Partner States demonstrates the strengthening of EAC integration,” added Ssemuwemba.
The Deputy Secretary General committed the readiness of the EAC Secretariat to continue creating an enabling environment by supporting the application of the provisions of the Common Market Protocol, maximising the use of the Customs Union Protocol and implementation of trade facilitation programmes including the Simplified Trade Regime, the One Stop Border Posts, EAC Mobile NTB Elimination Application, E-commerce, harmonization of Standards and even ease of crossing borders using national identity cards to support the MSMEs.
Also present at the official opening of the trade fair were: Hon. Wycliffe Oparanya, Kenya’s Cabinet Secretary for Cooperatives and MSMEs Development; Beatrice Askul Moe, Kenya’s Cabinet Secretary for EAC, ASALs and Regional Development; Amb. Joseph Majak, South Sudan’s Minister of Trade and Industry; and Gervais Abayeho, Burundi Minister of EAC Affairs, Youth, Sports and Culture.
https://thecooperator.news/among-rallies-eac-partner-states-to-implement-protocols/
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