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Beverages such as mineral water, soft drinks and beer have been added onto items to be cleared under the Single Customs Territory system, a regional initiative meant to speed up the clearance of goods and quicken revenue collection. Other goods that have also been cleared under the system include; wines, spirits and plastics. “Beginning June […]
Tanzania Revenue Authority (TRA) has said that the effective implementation of the Single Customs Territory (SCT) would help to curb cheating in the cargo declarations. As a result, the TRA Chief told East African Business Week during the awareness workshop to stakeholders on the implementation of the SCT in Dar es Salaam last week that […]
Trade is an excellent kindle for igniting growth, jobs and socio-economic gains. For this to occur, trade has to be effectively harnessed and sustainably exploited. This requires market information, trade intelligence, skills upgrade, productive capacity and an enabling business environment. In many respects, these elements are ‘Business 101’ of what any economy needs to grow […]
Kenya has stepped up the pursuit for new export markets in a fresh mission that will see it boost trade ties and address it’s current account deficit. The Kenya National Chamber of Commerce and Industries leads a delegation of 60 businessmen on Wednesday to meet business experts at a global trade forum in Uganda. The […]
Observers have said that trade within the East African Community has improved tremendously as the regional integration within the bloc has spurred the movement of goods and services across the borders. Speaking to The Observer recently, Isaac Shinyekwa, a trade and integration research fellow at the Economic Policy Research Centre (EPRC), said trade in the […]
Tradelinks, an operational partner of Trade Mark East Africa recently held a workshop on Bujumbura, Burundi to equip Burundian producers and manufacturers with the tools necessary for exporting to the EAC and beyond. Burundi’s ambassador to Uganda, Amb. Jean Bosco Barege invited East African Business Week to cover the event during which time he gave […]
The massive budgetary allocations by East African countries to infrastructure development are a pointer to the seriousness with which the regional governments are taking this key aspect of the economy. Together with a raft of proposed changes to taxation legislation, the focus on East Africa as a regional economic hub is clearer now than ever […]
Kenya has differed with the other East African partner states over the status and management of the export processing zone (EPZ) firms in the region. At the recent EAC Sectoral Council of Ministers’ meeting, Kenya proposed that domestic market access thresholds for EPZ firms raised from the current 20 per cent to 100 per cent […]
The value of East African Community intra-regional trade is set to rise following the review of the cross-border passage rules of origin on export goods originating from the partner states. In the revised draft of the rules of origin agreed on by the EAC Sectoral Council of Trade and Finance Ministers, the value threshold has […]
East African governments have used taxes to cushion their local industries on the one hand and encourage imports that support key sectors, such as infrastructure and energy, on the other, in a balancing act that gives fresh impetus to implementation of the Common Market Protocol. In budget proposals announced on Thursday, Kenya, Uganda, Rwanda and […]