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President Yoweri Kaguta Museveni of Uganda and Samia Suluhu of Tanzania have agreed to support and show their commitment to the realisation and implementation of the strategic East African Crude Oil Pipeline (EACOP) project.
This was agreed on Sunday at the State House in Entebbe during the bilateral talk when Suluhu made her first trip to Uganda as the president of Tanzania.
In May 2017, both the two countries signed the Intergovernmental Agreement (IGA) on the implementation of the project.
The last meeting regarding the project was held in September 2020 between Museveni and the late Tanzania president John Magufuli at Chato, Tanzania, where they agreed that each party was to conclude the host project, commence negotiations of pending agreements, and expedite the implementation.
The meeting between the two leaders is a sign of commitment to conclude the project that was well supported by Magufuli who died on March 17, 2021.
A minute of silence was observed for the late Magufuli.
In their agreements, they said that all the outstanding issues related to the project have been amicably resolved.
The Shareholding Agreement was also signed by all the stakeholders during the meeting.
Also, the two agreed that each state will take all the necessary required for the implementation of the project.
That having concluded the Tariff and Transportation Agreement and the host Government Agreement for Uganda and the Shareholding Agreement for Shareholders to the EACOP company, the companies can now launch the project and award the main Engineering, Procurement, and Construction Contracts.
They also discussed bilateral talks on a wide range of issues of mutual interest and expressed their satisfaction with the relation and cooperation that is existing between the two neighbouring countries.
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