Thursday, June 13

International relations

East Africa Trade
  • Kenya’s President William Ruto says the free movement was necessary for sustainable growth in the Horn of Africa.
  • Dr Ruto calls on member states in the region to eliminate national boundaries that are chocking growth.
  •  EAC Secretary General Peter Mathuki notes EAC can address challenges in advancing movement of goods and labour.

Barriers to free movement of goods and people are chocking East Africa’s regional integration. To unlock the bloc’s trade potential, Kenya’s President William Ruto is calling in the East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) to remove barriers to free movement. Dr Ruto urges that free movement of people, goods and services can significantly enhance East Africa’s regional integration.

The Kenyan President notes the free flow of goods and capital was necessary for sustainable growth across East Africa.

The President is now challenging regional member states to eliminate national boundaries that have since become …

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  • President William Ruto is seen to be leaning more towards the West as opposed to his predecessor and former boss Uhuru Kenyatta, who had built a strong relationship with Asian countries.
  • During Mr Kenyatta’s 10-years rule, China became a major financier and developer of key projects among them the $3.6 billion Standard Gauge Railway (SGR).
  • China and India have also been dominating the country’s trade as the Asian market accounts for 65.7 per cent of Kenya’s total import bill.

Since coming into office in September last year, Kenya’s fifth President William Ruto has been keen on building and expanding alliances with countries that can help foster trade that remains in favour of foreign nations.

An interesting facet, however, has been his renewed interest in the United States and Europe, in what is seen as a slow but sure move to attract more investments while growing market for Kenya’s exports, manly …

BRICS nations championing the de-dollarization of international trade.

The global financial landscape has undergone a remarkable transformation in recent times. Remarkably, the issue of the de-dollarization of international trade is slowly but steadily gathering momentum. A rising trend toward de-dollarization is challenging the longstanding supremacy of the United States in the international financial system. As the dominant global reserve currency, the US dollar remains pivotal in international trade, investment, and financial transactions.…

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