Regional company Trademark East Africa (TMEA) on Wednesday received $15 million from the Swedish government to support the regional economic integration between October 2013 and December 2016.

The key areas for the grant which was signed in Nairobi will include work with TMEA's core partners on reducing the costs of trade in the region; focusing on support to regional private sector growth and promotion of infrastructure projects, such as port development, to boost trade and removal of non-tariff barriers to trade.

"The Swedish government continues to be a key partner in promoting regional and economic integration in East Africa. We thank them sincerely for their support to our work," TMEA CEO Frank Matsaert said after signing the deal.

Matsaert said the organization will continue to focus its efforts on increasing trade and prosperity in East Africa, primarily through investing where there will be the biggest impact for East Africa's people and private sector.

"This involves investing in key regional trade infrastructure projects, such as one stop border posts (OSBPs) and the ports of Mombasa and Dar es Salaam," he added.

Matsaert said the grant will be used for the promotion of infrastructure projects, such as port development, to boost trade and for efficiency and infrastructure improvements at key border crossings in East Africa.

He said the grant will also be used in strengthening the trade environment and progress on East African regional integration.

Charge d'Affaires at the Embassy of Sweden Bjorn Haggmark said as part of Sweden's strategy for development cooperation, his country puts more emphasis on regional economic integration and development.

"This additional core investment underlines Sweden's commitment to East African integration. East Africa's potential has never been greater; East Africa is an increasingly important and vibrant player in the world economy. It must also be remembered that integration is not only about economics. Integration does also enhance peace and stability," Haggmark said.

Sweden considers that support to measures towards increased trade in the region and in combination with assistance to the private sector will accelerate economic growth and employment generation, with the ultimate goal of poverty reduction.

Haggmark said Sweden will continue to support TMEA to push forward the agenda on economic integration, adding that investments in regional trade infrastructure and support to the private sector will ensure that businesses are able to thrive and create jobs needed to make this region prosper.

"We very much welcome this increased support from the Government of Sweden for our work, and thank them for their commitment," said David Leahy, a member of TMEA's Board of Directors.

"A year and a half after our launch, implementation of TradeMark East Africa's comprehensive program to increase trade, reduce the region's transport costs and increase the pace of economic integration is scaling up rapidly. All these activities are essential to sustain the region's growth rates and reduce poverty."