East African Community trade agencies yesterday participated in the formulation process of a $5 million (Sh460 million) integrated ICT data system aimed at enhancing information exchange.

The concept promoted by TradeMark focuses on setting up an enabling ICT infrastructure to support EAC imports and exports become more competitive and affordable through reducing costs related to information sharing.

Problems over the years resulting from inaccurate or conflicting information from multiple stakeholders has created poor visibility and predictability of the trade environment in relation with government agencies, sometimes leading to calls for legal litigation.

“The Trade Logistics Information Pipeline would create an interconnectivity technology highway for EAC business and government agencies’ systems to communicate in a transparent and secured manner amongst themselves and with their international counterparts,” said TradeMark Africa chief executive Frank Matsaert at a stakeholders forum in Nairobi yesterday.

The meeting brought together agencies from the EAC, representatives from the EAC secretariat and the EU.

Instead of receiving of information in the form of documents from sources, users will pull the information they need to complete the transaction from integrated communication systems, consequently creating more independence and transparency on how the information is used to complete transactions.

“The project is a welcome concept in the region and we hope it will help us in assuring our investors of a transparent operation in business as we continue to facilitate ways to lower costs in the regional market and decongestion of ports,” said EAC Customs director Kenneth Bagamuhunda.

“This has so far been possible seeing that a consignment from Mombasa to Uganda would initially take 18 days but now it only takes five,” he added.

Source: Media max network

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.