The East Africa Trade and Investment Hub works to promote a more predictable, transparent and enabling business environment in East Africa, conducive to trade competitiveness and accelerated investment. Over the course of five years, activities under this component will achieve a 100 percent increase in the value of intra-regional trade in the EAC by advancing the implementation of the principles of regional integration, and enabling partner states to comply with intra-regional and international trade agreements and conformity to international standards.
The Hub team works closely with a network of private businesses, investment firms and trade associations, as well as other development partners, to gather, collate and assess evidence for trade policy and regulatory reform. It then initiates dialogue with policy makers and regulators.
Over the last two years, the Hub’s trade policy and regulatory reform activities helped achieve a 39% increase in intra-regional trade within the EAC. Hub activities supported the acceleration of the compliance by the EAC Partner States with the U.S.-EAC Cooperation Agreement, implementation of the EAC Common Market Protocol (CMP) and enabling policies for an improved business ecosystem.
Under the U.S.-EAC Cooperation Agreement, the Hub has supported both regional and national level WTO TBT and SPS compliance. With Hub's support, all EAC Partner States adopted the ePing electronic notification system (ENS); ENS meets the obligation for notification under the Cooperation Agreement on Trade Facilitation, SPS and TBT (an agreement that requires EAC Partner States to establish an effective process to ensure that they notify proposed measures on TBT and SPS to other WTO members). ePing will also allow the Partner States to access other WTO members' TBT and SPS measure notifications, and facilitate dialogue among the public and private sector in addressing potential trade problems at an early stage. Currently, both Uganda and Rwanda have adopted the ePing system, with Tanzania and Kenya agreeing in principle to use the system. Watch the video below:
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Published on September 20, 2017
Leaders (think-tanks in this vein) have thought of coming together to form joint blocs to help them address the challenges, but a prominent Nigerian ScholarChinua Achebe has begged to know if the war would be won if individual member states still treat each other with suspicion through a character he calls Okwonkwo asking his brothers a question that ‘how can we fight a common enemy if my own brothers have turned against me?’
This is the typical picture each member state ought to address to uplift young brother like South Sudan now facing famine, civil strife, poor infrastructures and others in their East Africa Community (EAC). Read more. Source | Daily News
Published on September 19, 2017
African continent is set to fast track continental free trade area early next year to create single market for goods and services.
Head, of Trade Division in the African Union Commission Mr Nadir Merah said in Dar es Salaam yesterday at the threeday-workshop that the initiative focuses at improving Africa’s competitiveness in the global economy.
“We need to fast track free trade areas as soon as possible. Towards end of January next year, we will present to the heads of the states the final paper on the initiative,” he said adding that the workshop seeks to discuss ways to improve communications and information systems on business and finance. Read more. Source | Daily News
Published on September 14, 2017
The Common Market for Eastern and Southern Africa (COMESA) secretary General, Sindiso Ngwenya has urged member states to fast track harmonisation of policies in the mining industry to make the sector more competitive and profitable.
According to Ngenya, the sector’s potential can only be sustainably harnessed through establishment of governance structures and leveraging on the existing multinational trade agreements.
Ngwenya told The New Times that sound institutional frameworks will enable COMESA’s national and sub-national governments to have a say in decisions regarding the use of the resources located in their territories including minerals if they harmonise policies regulating the sector. Read more. Source | New Times
Published on September 11, 2017
Tanzania and Kenya have agreed to end the trade barriers at the borders in afresh bid to improve bilateral cooperation and investment.
This was said on Saturday September 9, in Dar es Salaam by the Permanent Secretary in the Ministry of Industries, Trade and Investment, Prof Adolf Mkenda,at the end of talks involving senior leaders from the two countries. Read more. Source | The Citizen
Published on September 06, 2017
Traffic on the global payments network Swift has grown by 20.1% in East Africa over the past year, indicating an increase in trade flows with and within the region.
East Africa has outperformed the total growth for Swift globally, which amounts to 8.2%.
The figures released by Swift this week also show that intra-regional traffic in the region is up by 19.8% compared to 2015, now accounting for 69% of payments traffic in East Africa. Read more. Source | Global Trade Review
Published on September 06, 2017
nternational organisations such as the United Nations Conference on Trade and Development (UNCTAD) and the International Monetary Fund affirm that for sustainable and collective growth to happen in a globalised era, large African economies must remove the walls separating them from the continent’s underdeveloped economies.According to UNCTAD’s 2016 report African Continental Free Trade Area: Advancing Pan-African Integration, regional integration is needed to further technology and economic innovation in Africa. Read more. Source | Biz Community
Published on September 06, 2017
As competition among ports in Eastern and Southern Africa stiffens, the Tanzania Ports Authority (TPA) has decided to come up with a Master Plan for establishment of dry ports in strategic regions, to ease clearance and shipment of transit cargo to neighbouring countries.
This was revealed by TPA Director General, Engineer Deusdedit Kakoko at Ruvu-Vigwaza area in the Coast Region over the weekend, where he accompanied Minister for Works, Transport and Communications, Prof Makame Mbarawa to Kwala area to inspect an ongoing construction of a dry port.
In his details, Engineer Kakoko said for years now TPA has been operating its dry ports, including constructing new ones but without a Master Plan - a dynamic, short and long-term planning document that provides a conceptual layout to guide future growth and development. Read more. Source | Daily News
Published on August 29, 2017
Rwandan and Tanzanian private sector bodies on Monday reiterated their commitment to collaborate in advocating for elimination of Non-Tariff Barriers (NTBs) between the two countries.
Restrictions that result from prohibitions, conditions, or specific market requirements that make importation or exportation of products difficult and or costly continue to trouble business people from both countries and, this was high on agenda of a one-day peer to peer meeting held in Kigali.
“Unlike politicians, business people don’t have term limits or constituencies. All that is important is a good doing business environment; and that is what we all desire. We must continuously collaborate, or regularly share views on how best we can collaborate to further make things better,” Stephen Ruzibiza, the PSF chief executive, said. Read more. Source | New Times