Towards the Comprehensive Review of the EAC CET is a policy brief published by the Kenya Private Sector Alliance (KEPSA) and the East Africa Trade and Investment Hub.
The publication contains key recommendations that will lead to successful establishment of a Common Externat Tarriff (CET) on goods imported into the partner states from foreign countries in the East Africa Community (EAC).
Policy Brief on Enhancing Kenya's Services Sector is a publication by the Kenya Private Sector Alliance (KEPSA) and the East Africa Trade and Investment Hub.
The publication contains key recommendations on policies that require amendment in order to improve the services sector, which has and continues to play a crucial role in Kenya's economic development.
Ernst and Young (EY), the global leader in assurance, tax, transactions and advisory services, has urged regional governments to invest more in market integration to help absorb global economic shocks.
According to Allan Gichuhi, the Rwanda EY partner, ensuring more market integration while embracing innovative technologies will help the region become more economically resilient and thus attract more foreign direct investments.
Gichuhi said the global political, economic and investment landscape has entered an exceptional period of transition emanating from the UK vote to leave the European Union (EU), the election of Donald Trump as the US President and China’s entry into a new phase of slower economic growth among other factors. Read more. Source | New Times
The East African Community is working with agencies such as TradeMark East Africa to ease the movement of labour and capital and cross-border business.
The Community has initiated projects focused on creating market access, enhanced trade environment and competitiveness.
In 2016, 10 of the 13 one-stop border posts were completed and are operational under the integrated border management arrangement. These are the Holili-Taveta, Mirama Hills-Kagitumba, Kobero-Kabanga, Busia-Busia, and Mutukula-Mutukula posts. Read more. Source | East African
Small and medium enterprises (SMEs) will now be able to access firsthand information on trade and investment opportunities across East African Community (EAC) member countries, thanks to a new initiative by youth focused non-governmental organization (NGO).
The Vision for Youth has launched has launched a project known as “SokoMkononi” that aims to identify challenges and enable SMEs to get information on the EAC investment and trade opportunities, the NGO’s director, Ms Violet Ayubu told The Citizen yesterday.
This, according to her, is because though the EAC Common Market Protocol became effective on July 1, 2010, many Tanzanians still lack information on the opportunities found in the wider regional market in other member states like Kenya, Uganda, Burundi and Rwanda. Read more. Source | The Citizen
The East African Community (EAC) bloc is mooting a plan to harmonise laws that will regulate cross border insolvency. Insolvency occurs when an organisation or individual is unable to pay debts on time. An insolvent company can either wind up or be restructured.
Speaking to journalists during the launch of the insolvency week in Kampala, Bemanya Twebaze, the registrar general Uganda Registration Services Bureau (URSB), said the move is timely as countries shift towards borderless trade.
“Trade across borders is a daily occurrence so what happens in a situation where a company which is trading across the region goes into liquidation,” he said at the Regional Official Receivers’ Forum on Wednesday. Read more. Source | New Times
Construction of cross-border markets along key borders linking Rwanda with its neighbours will be accomplished in the next five years and, once completed, will enhance regional trade, Francois Kanimba has said.
The Minister for Trade, Industry and East African Community Affairs, who was on Monday speaking to The New Times about the seventh East African Community (EAC) Week, said the markets infrastructure has been an important programme the ministry has been undertaking.
“It has been one of the most challenging infrastructure programmes. Constructing these markets is resource-consuming and requires significant amount of time and energy to conduct feasibility studies to make sure that when you mobilise resources to construct markets, they are designed in such a way to have an impact,” Kanimba said. Read more. Source | New Times
The East African Community (EAC) is hatching a plan to harmonise laws that will regulate cross border insolvency.
Insolvency occurs when an organisation or individual is unable to pay debts on time. An insolvent company can either wind up or be restructured.
Speaking to journalists an the launch of the insolvency week in Kampala, Mr Bemanya Twebaze, the registrar general Uganda Registration Services Bureau (URSB),said resolving insolvency is one of the areas that the World Bank bases in preparing its easing of business report.
The World Bank Doing Business Report 2017 which is its 14 edition and themed ‘Equal Opportunity for All’ released in Washington DC on October 25, shows that Uganda moved from 122 in 2015 to 115 in 2016 out of 190 economies. Read more. Source | Daily Monitor
The U.S. Government and the East African Community (EAC) launched a Regional Development Objectives Grant Agreement at the EAC headquarters in Arusha, Tanzania. On behalf of the U.S. Government, the United States Agency for International Development (USAID) will contribute approximately $194 million over a five year period to shared development goals, deepening the partnership between the two organizations.
About $30 million will fund institutional strengthening within the EAC Secretariat, while the remainder will support other development partners in their efforts to contribute to the EAC regional integration agenda.
Chargé d’Affaires of the U.S. Embassy to Tanzania and U.S. Representative to the EAC Virginia Blaser, USAID Mission Director for Kenya and East Africa Karen Freeman, and EAC Secretary General Ambassador Liberát Mfumukeko signed a memorandum of acknowledgment to affirm the agreement. Read more. Source | East Africa
A Technical working-level bilateral meeting was held today between the officials of East African Community and United States Agency for International Development (USAID), on the sidelines of the ongoing 22nd Session of the Conference of Parties (COP22) to the United Nations Framework Convention on Climate Change (UNFCCC) and the 12th Meeting of Parties to Kyoto Protocol (CMP12) taking place in Bab Ighli in Marrakech, Morocco.
The EAC and USAID officials discussed the ongoing projects supported by USAID and noted tremendous milestones being recorded for example in the Planning for Resilience in East Africa through Policy, Adaptation, Research, and Economic Development (PREPARED) project, which has effectively taken root in the region. Other projects include the Aflatoxin Control Programme and the Sanitary and Phytosanitary Programmes meant to ensure high quality agricultural, livestock and fishery products for intra Community trade, regional trade and external trade especially with USA under the AGOA trade facility. Read more. Source | East African Community