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Browsing: Trade tariffs
The new tariff policy, which took effect on September 1, is applicable to mineral and agricultural imports from Chad, Central African Republic (CAR), Eritrea, Djibouti, Mozambique, Guinea, Rwanda, Togo, and Sudan.
It comes on the heels of Chinese President Xi Jinping’s declaration at the China-Africa summit held in 2021 that measures would be taken to increase agricultural imports from Africa.
Xi stated at the time that the goal was to increase continental imports to US$300 billion (€302 billion) in the next three years, ultimately reaching US$300 billion per year by 2035.
Africa, which continues to export raw materials to China, accounts for a small portion of China’s imports.…
Because EAC products have been denied preferential market access as a result of trade sanctions, intra-EAC trade is currently at a low of 15 per cent, which will worsen employment opportunities, market access, and the economies of scale of our sectors for East Africans as a whole.
NTBs not only increase the time and cost of doing business across borders, but they also reduce the competitiveness of EAC-produced goods.
NTBs persist and grow because of the lack of an effective EAC trade dispute settlement system (the EAC Trade Remedies Committee) and the poor speed of resolution of NTBs by the EAC Reginal Monitoring Committee (EMC). …
