Kampala, Uganda was the next stop in the series of quarterly East African Community (EAC) Common Market Protocol implementation update sessions. These events are designed to appraise private and public sector on the progress the EAC Partner States are making towards full implementation of the EAC Common Market Protocol. The protocol creates a framework for economic integration among Partner States where there is free movement of goods, labor, services and capital.
The Hub works with legal experts in each of the Partner States to research country-level legislative developments and their impact on the integration process. The aim is to flag potentially retrogressive measures, such as discrimination against citizens of other Partner States from participating in the country's economy.
Below are some of the key highlights from the meeting. You can also download the presentation here.Read more
Introduction of new duties and levies on imports and exports has slowed down containerised trade along the East Africa’s Northern corridor, a trade report by shipping giant Maersk Group states.
The report shows the northern corridor comprising Kenya, Uganda, South Sudan and parts of Rwanda recorded a three per cent growth in exports, while imports rose two per cent year-on-year in September.
“Imports were stifled by introduction of new duties and levies on some of the import commodities such as used clothing, as well as new regulations on auto and paper imports into Kenya,” head of Safmarine East Africa Purity Karau said. Source: The Star. Read more...
On November 22, the Hub and the Tanzania Private Sector Federation (TPSF) jointly held an event in Dar es Salaam, Tanzania to appraise private and public sector practitioners on the country's progress toward implementation of the East African Community (EAC) Common Market Protocol. The protocol seeks to establish a single market where there is free movement of goods, services, labor and capital across member states, thus expanding economic opportunities in the region.
The update was based on ongoing legal research and analysis carried out by the Hub in each of the EAC Partner States on new and existing legal provisions and their impact on the implementation of the protocol. Based on this research, the Hub partners with private sector associations, such as TPSF, to seek reform of the measures that are inconsistent with the protocol.Read more
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
Kenya is inching closer to getting a National Trade Policy to address export challenges and boost trade.
The policy is expected to address market access for local goods as the government bridges the trade gap that exists with different markets.
Trade Principal Secretary Dr Chris Kiptoo said on Wednesday that the country’s trade structure has concentrated much on primary products and traditional markets without diversifying to tap new opportunities. Read more. Source | Citizen TV
Imagine you were exporting some perishable goods abroad. However, you find out once your goods reach the destination port that they cannot be allowed into the country because of a newly introduced requirement or standard that your product does not meet. The goods have to be destroyed or returned. You stand to suffer massive losses and possibly lose a buyer. This hypothetical situation can happen in real life.Read more
The monthly 'Common Market Implementation Update' tracks legal and regulatory developments that have a bearing on Kenya’s compliance with commitments made towards the East African Community' Common Market Protocol (CMP).
This issue covers key milestones taken by the Republic of Kenya to advance implementation of the Protocol. On June 29 2016, Kenya approved the ratification of the EAC Protocol on Sanitary and Phytosanitary Measures.
The World Investment Report 2016 is a publication of the United Nations Conference on Trade and Development (UNCTAD). It examines international production by multinational enterprises. It also details the ownership structures and control of affiliates of the said enterprises.
The report mainly focuses on how policymakers can distinguish between "domestic" and "foreign" companies in a globalized economy. It also provides a new framework for handling ownership issues in the investment policy-making process in the 21st century.
The publication is a useful resource in ensuring that policymakers are fully equipped with information regarding the ultimate origin of investors as required by most government policies.
Zanzibar's private sector primarily consists of micro, small & medium-sized enterprises, 88 percent of which are informal and unregistered. The private sector employs about 95 percent of the island’s labor force. However, there is little awareness among Zanzibar's private sector about the East African Community (EAC) Common Market and the potential benefits the island nation could reap from maximizing inter-regional trade through the provisions of the EAC Common Market Protocol.
In June, the Hub held a public private dialogue in Zanzibar to assess challenges to implementation of the EAC Common Market Protocol and pave a way forward.
Watch a recap of the event here:Read more
Trading Into Sustainable Development is a product of the United Nations Conference on Trade and Development (UNCTAD). It examines various interactions between trade policy, with a specific focus on market access conditions, and factors that constitute the basis for achieving sustainable development.The report also presents recent evidence on the importance of enhancing connectivity to international markets as the most effective policy action that complements market access for both exports and imports.