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Browsing: Common External Tariffs
- During the last quarter of 2022, the EAC hit an intra-trade value of $10.17 billion. This was a 20% proportion of intra-trade to world commerce.
- The revision of the EAC three-band structure aims at aligning the tariff rates.
- On July 1, 2022, the EAC enforced a new tariff structure that included a 35 percent duty on finished products imported into the region.
The East African Community’s $18.9 million trade plan is facing obstacles as partner states seek preferential tax treatment under the bloc’s revised Common External Tariffs (CET).
This development is threatening to jeopardize the implementation of the proposed four-band tariff structure. On July 1, 2022, the EAC Secretariat enforced a new tariff structure that included a 35 percent duty on finished products imported into the region.
The secretariat, in a report from January 2022, highlighted the potential benefits of the fourth band, arguing that a maximum tariff of 35 …