Singapore To Explore First FTA With East African Community

By Anas Abu Hassan

SINGAPORE, June 9 (NNN) -- Singapore and the East African Community (EAC) have expressed their intention to pursue negotiations on a Free Trade Agreement (FTA), according to the republic’s Ministry of Foreign Affairs (MFA).

The EAC is a regional intergovernmental organisation comprising eight partner states: Congo, Somalia, Burundi, Kenya, Rwanda, South Sudan, Uganda and Tanzania.

MFA said the proposed FTA would be the EAC’s first negotiation with a partner outside Africa and Singapore’s first trade agreement with an African partner.

Singapore President Tharman Shanmugaratnam is currently on a state visit to Tanzania until Wednesday.

At a joint press conference with Tanzania President Samia Suluhu Hassan on Tuesday, Tharman said the proposed FTA would improve market access and facilitate the flow of goods and services between the EAC and Singapore.

“Singapore could also provide East African exporters with a gateway to the larger ASEAN market. It will also open up newer areas of growth, such as in the digital economy,” he added.

According to MFA, following their meeting, the two leaders witnessed the signing and exchange of memoranda of understanding on establishing bilateral consultations, collaboration in carbon credits, capacity building in trade facilitation, skills development, and an Agreement on the Avoidance of Double Taxation.

The two presidents agreed that the 45th anniversary of diplomatic ties this year was a timely opportunity to explore new areas of cooperation, such as in the blue and green economies, the digital economy, tourism and port development, food security, youth development, vocational and technical education, and healthcare.

"This includes collaboration with leading Tanzanian universities such as the Muhimbili University of Health and Allied Sciences and the Benjamin Mkapa Hospital," MFA said in a statement on Tuesday.

--NNN