With international trade on a downward loop, member states drawn from within the East Africa community are rallying for a competitive environment around standards and quality.
Intra EAC Trade is estimated at approximately $40Billion each year, however, rules of origin on traded commodities remains an issue among partner states.
These are part of the resolutions on rules of origin, that the East African Business Council will be seeking from the coming Heads of State Summit in Nairobi Kenya, later this week. Watch. Source | NTV Uganda
The proposed Tripartite Free Trade Area between the East African Community, Comesa and Southern African Development Community could potentially eliminate intra-regional trade bottlenecks and boost exports among member states by at least 30 per cent.
According to the EAC Secretariat, trade between the EAC and the Common Market for East and Central Africa in 2014 amounted to $2.7 billion while flows between the EAC and SADC stood at $3 billion.
The United Nations Economic Commission for Africa (Uneca) projects that the gains could even be bigger if non-tariff barriers between the three sub-Saharan Africa blocs are eliminated when the tripartite arrangement comes into force. Read more. Source | East African
At least 1,000 delegates, including heads of government, representatives of multilateral organisations and members of the private sector, today convene in Kigali for the Global African Investment Summit.
The summit, which will be held at the Kigali Convention Centre, is taking place for the first time in Africa with previous editions held in London.The two-day meet is convened and organised by the Common Market of Eastern and Southern Africa in partnership with the Government of Rwanda.
Organisers say the summit is tailored to serve the continent’s growing appeal among forward thinking investors who view the continent as an investment destination as opposed to a sole aid benefactor. Read more. Source | New Times
All East African Community member states have had a good tea harvest that has resulted into high trade volumes.
This is contained in the latest report from Tea Brokers East Africa Limited which shows that at the June Mombasa auction, nine million kilogramme bags were offered, up from the 7.4 million bags recorded in the same period last year.
“Out of this production, the region exported a total of 8.3 million kilogrammes up from 6.2 million kilogrammes exported the same time last year thus indicating a 24.8 per cent,” the report said. Read more. Source | New Times
The EAC Partner States of Burundi, Kenya, Rwanda, Tanzania, and Uganda, are knocking into shape a draft EAC Sanitary and Phytosanitary (SPS) Legal Framework and Measures. In a four-day regional stakeholders meeting held from 22nd to 25th August 2016 in Nairobi, Kenya, Partner States Experts from Ministries of Agriculture, Livestock and Fisheries, Bureau of Standards, Plant Health Inspectorates, and Animal Resources critically reviewed and provided comments to improve and enrich the draft EAC SPS legal framework and the measures.
The meeting was also attended by officials from the Eastern Africa Farmers Federation (EAFF), the Eastern Africa Grain Council (EAGC), USAID Regional Economic Integration Office, the USAID East Africa Trade and Investment Hub, and EAC Secretariat officials.
Mr. Protase Echessah, the Senior Agricultural Trade Expert, USAID East Africa Trade and Investment Hub underscored the collaboration between Hub and the East African Community which seeks to increase the competitiveness of select regional agriculture value chains and facilitate investment and technology that drives trade growth intra-regionally and to global markets. It is under this context that the Hub is supporting EAC to develop a regulatory framework to operationalize the SPS Protocol. Read more. Source | East African Community
The Netherlands Centre for the Promotion of Imports from Developing Countries, Trade Mark East Africa (TMEA), the World Fair Trade Organisation and the USAID East Africa Trade and Investment Hub will jointly promote handicrafts. That will be done through trade fairs in an initiative known as Source East Africa.
East Africa’s geographical location has made it a melting pot of different cultures, resulting in a rich diversity of crafts skills and products. Trade in handicrafts can create jobs in rural and peri-urban areas and add value to local raw materials.
Besides generating money, handicrafts can contribute to import substitution by providing locally produced product alternatives to imported ones.
CBI programme manager for the Export Coaching Programme in East Africa, Heidy van der Ploeg said,
We need to start recognising the handicrafts sector as a key economic sector in the region that requires comprehensive support so that it can unfold its full potential.
Read more. Source | East African Business Week
Industrialist Maggie Kigozi has urged Ugandan women business leaders to harness business incentives that regional governments have provided to expand their businesses beyond borders.
Speaking at a regional symposium and recognition awards dinner for the most influential women in business and the government last Friday, Ms Kigozi said one of the main incentives they have been given is security.
Industrialist Maggie Kigozi said,
Our biggest asset is security. Without security, there is no business. We have economic stability. Inflation has been curbed, administrative barriers have been removed, we have a working civil service and technology is helping us bypass the bureaucratic administration.
Read more. Source | Daily Monitor
Maximising use of science and technology is part of the government’s agenda to increase products value addition, Education minister Papias Musafiri has said.
The minister was speaking, yesterday, as experts met to devise regional priorities in science, technology, and innovation funding workshop in Kigali. The workshop convened regional scientific bodies and commissions, under the East African Science and Technology Commission (EASTECO).
It sought to design a five-year action plan in integration of science and technology toward socio-economic transformation and sustainable development. Read more. Source | New Times
The East African Community (EAC) needs a strong and uniform regulatory framework that promote financial inclusion to ensure sustainable growth in the region, experts say.
Prof Lemma Senbet, from the African Economic Research Consortium (AERC), said EAC should put in place clear systems that promotes financial inclusion to spur growth.
He added that a regionally integrated financial system that also feeds into a global system will help strengthen the financial industry on the continent. Read more. Source | New Times
The East African Business and Entrepreneurship Conference and Exhibition is an annual event rotating in all partner states of the East African Community (EAC) in collaboration with the respective investment agencies. The inaugural 2016 edition, organized by the East African Business Council (EABC) with support of the Federation of German Industries (BDI), will be held in Nairobi, Kenya from 10th to 13 October 2016.
This three-day conference will bring together high-level government and private sector decision makers from the EAC partner states as well as entrepreneurs and investors from abroad. BDI is EABCs’ strong partner in Germany. Through their support a high-level German participation is expected. The conference will have parallel sessions on Manufacturing and Infrastructure and on Textiles & Leather and Energy. A half day session will be held on Innovative Information and Communication Technologies (ICT). Read more. Source | East Africa Business Council