In Addis Ababa, Ethiopia, a new chapter in regional economic cooperation was opened as trade ministers from the Horn of Africa Initiative (HoAI) signed a joint declaration establishing the Horn of Africa Regional Trade Facilitation Committee (HoAI-RTFC).
The ceremony, attended by senior officials including Kenya’s Cabinet Secretary for Investment, Trade and Industry Lee Kinyanjui, marked a decisive step forward in trade practices across one of Africa’s most strategically important regions.
The committee designed a coordination platform that will bring together national trade facilitation committees to spearhead the implementation of the five-year HoAI trade facilitation roadmap as approved by the ministers.
The committee also aims to reduce trade bottlenecks, cut costs and enhance efficiency in customs and border management that have long hindered the region’s economic potential.
Small businesses, exporters and consumers will benefit from reduced delays and costs, while the region could attract greater foreign investment.
Once implemented the roadmap will increase intra-regional trade and economic development.
