BY SAMSON MBII,NAIROBI,2ND MAY 2017- Developing nations have been urged to promote and grow trade between them as a way of creating a common market and effectively compete with developed nations economically.
Speaking during the South – South and Triangular Cooperation workshop, Kenya’s Permanent Representative to the United Nations Macharia Kamau says there is need for tolerance and understanding among East Africa Community states to drive trade.
Over the years trade between developing nations has experienced increased growth with higher growth projected by the year 2023 compared to between developed nations that has been dominating the markets over the years.
Kamau says the East Africa Community talks on common market and economic growth must be encouraged urging restraint and understanding between member states.
South – South Director Jorge Chediek says the trade volume between the developing nations have grown rapidly especially in Africa where countries have experienced economic growth.
He also urged African countries to take advantage of their young and growing population which presents a ready market for African goods and services in the future.