Last week, the WorldBank published the Doing Business 2018 report characterizing commendable improvements in the East African region. Improvements in global rankings are intended to increase the level of efficiency for businesses and increase the level of both local and Foreign Direct Investment which have a positive impact on Job creation. The Hub’s Trade Policy and Regulatory Reform team focuses on supporting the implementation of the East African Community (EAC) Common Market Protocol. Through the protocol, EAC Partner States have committed to liberalizing the movement of goods, services and capital, in addition to other factors of production, with goal of enhancing trade and investment in an increasingly competitive region.
The Hub is working with the region's private sector to accelerate implementation of the protocol. This advocacy partnership is strengthened by the Hub's network of legal practitioners who regularly conduct legal assessments to assess acts of parliament, bills and draft regulations that may have measures that operate against the EAC Common Market Protocol. These updates are shared with the private sector in order to strengthen the advocacy process in support of a conducive trade and investment environment in the EAC. Find the latest update from Tanzania here.
A key policy reform achieved through Hub’s support is Kenya’s repeal of mandatory local shareholding requirement, improving the ease of investing in East Africa. The Trade Policy and Regulatory Reform team at the Hub works to promote a more predictable, transparent and enabling business environment in East Africa that is conducive to trade competitiveness and accelerated investment. Want to learn more about the EAC Common Market Protocol? Watch the video below: