EAC MSMEs Trade Fair

Preparations are in high gear for the 23rd East African Community (EAC) Micro, Small, and Medium Enterprises (MSMEs) Trade Fair, an annual event that is held on a rotational basis between the seven partner states. This year’s event, themed “Connecting East Africa MSMEs to Enhance Intra EAC Trade,” will take place from the 5th to the 15th of December 2023 at the Cercle Hyppique grounds in Bujumbura, Burundi, and promises to be an occasion for fostering forward linkages, strengthening regional integration and facilitating business exchanges for the 1500 MSMEs who will be in attendance.

Speaking during the commissioning of the Kenya multisectoral National Organizing Committee for the Fair, Cabinet Secretary Ministry of Cooperatives and Micro, Small and Medium Enterprises (MSME) Development Hon. Simon Chelugui highlighted the untapped potential of Burundi as a gateway to the Democratic Republic of Congo and the broader Central Africa region and said that the Trade fair will present an opportunity for over 300 Kenyan MSMEs to expand their reach into this regional market.

“This trade fair will not only provide a platform for showcasing Kenya’s offerings in the regional market but also play a pivotal role in facilitating trade and creating market linkages between producers, aggregators/off-takers, and the final consumers. I implore Kenya MSMEs to leverage this opportunity to establish a foothold and exploit the emerging opportunities in terms of trade and investment in sectors such as Agro-processing, Education, Health and Medical, Finance and banking, Energy, Light Manufacturing, and the construction industry in Burundi and other regional markets,” he stated.

The EAC region, with a market size of 300 million people and a GDP of approximately US$250 billion, represents a compelling opportunity to boost intra-EAC trade. The geographical expansion of the EAC, which now stretches from the Indian Ocean to the Atlantic Ocean, makes it a competitive gateway to the larger African Continental Free Trade Area (AfCFTA).

Thanks to the EAC Common Market Protocol and EAC Customs Union, trade barriers and tariffs have been significantly reduced, while customs procedures have been harmonized among member states, streamlining trade processes.