M a r k e t N e w s

Kenya, Tanzania Industrialists Kick Off Meeting on Market Access

Posted on : Friday , 16th July 2021

The East African Community (EAC) common external tariff (EAC CET) upper band rate, harmonisation of domestic taxes, harmonisation of product standards, review of the EAC Rules of Origin, and activation of the dispute settlement mechanism, according to the Kenya Association of Manufacturers (KAM) and the Confederation of Tanzania Industries (CTI).

Mucai Kunyiha, KAM chairman, stated that addressing relevant concerns between Kenya and Tanzania will not only improve commerce between the two countries, but will also increase the competitiveness of both countries' products and services.

Kenya and Tanzania, according to Kunyiha, have the capability and capacity to add value to their vast array of resources for export markets.

"However, achieving this is hampered every time the business community faces trade restrictions, hence reducing the benefits of trade to the entire area," he said in a statement released in Nairobi.

According to Kunyiha, trade that is free of tariffs and non-tariff obstacles boosts prosperity for all participating countries by allowing consumers to acquire more, higher-quality products at lower prices.

Food and beverage, edible oils, chemicals, automotive, leather, and footwear sectors, according to industrialists, are among the manufacturing sectors that will participate in the trade mission.

Paul Makanza, CTI chairman, urged delegates to uphold a rule-based trade relationship as a way to reduce the imposition on non-tariff barriers on cross border trade.

Makanza also asked both institutions to expedite the EAC CET's full assessment, stating that its implementation will be crucial in promoting domestic capacities and increasing the region's manufacturing sector's competitiveness.

Source : www.exafnz.com
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