Browsing: COMESA

Middle East, Comesa leading markets for Ugandan export

Middle East, Comesa leading markets for Ugandan export

Countries

The Middle East and Comesa have become the leading export markets for Ugandan goods, according to the Bank of Uganda(BoU) report for the year ended December 2019.

The two markets and others in East Africa, Europe and America saw a 10.1 increase in Uganda’s exports for the period under review.

During the period, the Comesa, Middle East and (Common Market for East and Southern Africa) each fetched earnings of $1.2 billion.

According to some experts, the increasing exports to the Middle East is mainly due to the growing gold exports, specifically to the United Arab Emirates.

Also Read: Uganda growth could lower and oil investment delays are part of it, IMF says

The report also added that the Middle East also received a good share of Uganda’s fruits, coffee and vegetable exports in the same period under review.

The report further indicates that Uganda’s exports receipts from Comesa mainly came …

Tobacco growing in Tanzania may get a boost if plans by the government to increase sales are successful. theexchange.africa

Tanzania in attempts to boost tobacco sales

Tanzania

Tobacco growing in Tanzania may get a boost if plans by the government to increase sales are successful.

The Tanzanian government is planning to initiate talks with the member states of the Common Market for Eastern and Southern Africa (COMESA) to seek markets for tobacco in those countries.

Data indicates that in 2017, tobacco brought in more foreign exchange to the country than coffee, cotton, tea, cloves and sisal combined.

However, tobacco production fell considerably over the third quarter of 2018, dropping by a third of the previous quarter’s performance.

The setback was that Tanzania’s tobacco was sold at high prices in other countries because of charging high tax, compared to the same tobacco from Uganda and Kenya.

The country is in talks with Egypt and Algerian ambassadors to Tanzania to prepare bilateral agreements that would enable reduced tax on Tanzania’s tobacco to be sold in those countries in …