Trending
- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Browsing: Bilateral trade
- Kenya-Ethiopia trade relations have been on the rise in the past 27 years, with Kenya having the upper hand.
- Ethiopia, on the other hand, recorded an increase at an annualised rate of 23.7 per cent.
- During the Meeting Kenyan investors also undertook exhibitions showcasing some of their products.
Kenya and Ethiopia have renewed the push to streamline the bottlenecks that are hampering trade growth between the two states. A delegation of the National Assembly to the Kenya-Ethiopia Trade and Investment Mission held in Addis Ababa, Ethiopia, has rooted for the speedy removal of bottlenecks hampering cross-border trade between both Nations.
Kenya and Ethiopia have engaged in bilateral trade across multiple sectors, including agriculture, manufacturing, energy, and services, with the balance of trade hugely in favour of Kenya. In 2022, Kenya exported $95.1M (Sh12.8billion) to Ethiopia, mainly Palm Oil $12.4M (Sh1.7billion), Metal Stoppers $7.95M (Sh1.1billion), and Yeast $6.92M (Sh934million).
This compares …
- Non-tariff trade barriers are restrictions trade blocs impose to further their political and economic goals.
- Kenya and Tanzania are working on resolving non-tariff trade barriers that have stifled business between East Africa’s largest economies.
- Kenya is a crucial partner for Tanzania and is the largest source of African Foreign Direct Investment in Tanzania.
The East African Community
Countries have adopted regional trading blocs as a strategy to increase global competitiveness. The East African Community (EAC) member states are dedicated to enhancing economic efficiency and fostering regional integration through strategic investments using established industries.
EAC aims to position the Community as a single investment area, harmonising trade policies, investment incentives, and product standards.
At the beginning of its operations, EAC ended non-trade barriers (NTB) between member countries intending to liberalise trade. However, this affected the NTB imposed by the members, especially Kenya and Tanzania, who are critical traders in the market.…
