Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

East African Community Makes Strides in Trade Integration and Barrier Removal

Joel Mugonyi by Joel Mugonyi
August 17, 2023
in News
Reading Time: 2 mins read
A signage is seen at the border crossing point between Kenya and Tanzania in Namanga, Tanzania July 19, 2019. Picture taken July 19, 2019. REUTERS/Njeri Mwangi - RC1B24DD7490

A signage is seen at the border crossing point between Kenya and Tanzania in Namanga, Tanzania July 19, 2019. Picture taken July 19, 2019. REUTERS/Njeri Mwangi - RC1B24DD7490

The East African Community (EAC) has successfully addressed 26 out of the 33 reported Non-Tariff Barriers (NTBs) as of June 2023, marking significant progress in promoting intra-regional trade. The EAC Secretariat emphasizes the need for swift resolution of the remaining seven barriers to further enhance trade within the region.

Peter Mathuki, the Secretary General of the EAC, highlighted the achievement during the annual State of the EAC Address in Arusha, Tanzania. He commended the EAC Partner States for effectively eliminating NTBs as they arose, resulting in the elimination of a total of 184 barriers. Mathuki disclosed that EAC’s overall trade rose by 13.4 per cent to USD 74.1 billion in 2022 from USD 65.3 billion in 2021. Additionally, intra-EAC trade increased by 11.2 per cent, reaching USD 10.9 billion in 2022 from USD 9.8 billion in 2021.

Read more: Kenya Risks Losing Trade to other EAC Countries following Introduction of Export Development Levy

The Secretary-General attributed this growth to collaborative efforts among the Partner States, including the admission of the Democratic Republic of Congo (DRC), timely resolution of NTBs, trade facilitation initiatives, harmonization of East African standards, promotion of Micro, Small, and Medium Enterprises (MSMEs), and stakeholder capacity building.

RELATEDPOSTS

Investing in USD Money Market Funds: A smart choice for stability and liquidity

November 10, 2026

Employers face final hours to file October PAYE returns

November 9, 2026

Mathuki highlighted the implementation of the Single Customs Territory, which reduces turn-around time along EAC corridors from an average of 21 days to just 4 days. He also mentioned that approximately 95.0 per cent of EAC Customs regimes were operational, with transit being piloted. Notably, the average transit time from major EAC ports to exit borders decreased by 4.4 hours to 81.8 hours in 2022 from 86.16 hours in 2021.

Furthermore, efforts were directed towards enhancing the Common Market Protocol. Five out of seven EAC Partner States began issuing the EA e-Passport to facilitate the seamless movement of individuals within the region. To promote free movement of services, the EAC adopted a Mechanism for the Removal of Restrictions on trade in services.

Read more: Somalia to Join EAC as Community Readies for Common Currency

The EAC Private Sector Development Strategy was introduced to stimulate investment and business promotion, fostering the right of establishment. As of 2023, the percentage share of intra-EAC trade to total EAC trade demonstrated a positive trend, reaching 19.0 per cent in February 2023, signifying a positive trajectory for regional trade integration.

In summary, the EAC’s concerted efforts to eliminate NTBs, streamline customs procedures, and enhance regional economic cooperation have propelled trade growth and laid the groundwork for a more integrated and prosperous East African community.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

MPC Survey Highlights Improvements in Subsidized Fertilizer Distribution Amidst Farmer Concerns

Next Post

Co-operative Bank of Kenya Reports Strong Financial Performance and Strategic Growth Focus

Joel Mugonyi

Joel Mugonyi

Related Posts

News

Lowering the REIT Investment Threshold: A Catalyst for Wider Retail Participation in Kenya’s Property Market?

November 13, 2026
Business

Investors submit kSh69.26 billion in treasury bill bids as yields decline

November 13, 2026
News

Interoperability Is Reshaping Kenya’s Digital Finance Landscape

November 13, 2026
News

Understanding Bond Yields and Prices

November 12, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images
Business

CBK bond swap attracts low investor interest

November 12, 2026
Business

US investors increase interest in kenya

November 11, 2026

LATEST STORIES

Lowering the REIT Investment Threshold: A Catalyst for Wider Retail Participation in Kenya’s Property Market?

November 13, 2026

Can creditors or bankruptcy touch your pension?

November 13, 2026

Investors submit kSh69.26 billion in treasury bill bids as yields decline

November 13, 2026

Interoperability Is Reshaping Kenya’s Digital Finance Landscape

November 13, 2026

Understanding Bond Yields and Prices

November 12, 2026

Quickmart debuts on the NSE, opening at Sh10 per share under ticker QMRT

November 12, 2026
John Mbadi, Kenya's treasury secretary, during an interview in Nairobi, Kenya, on Wednesday, Aug. 20, 2025. Kenya is in talks with China to convert dollar-denominated debt the East African nation owes its biggest bilateral lender to yuan and extend the repayment period, Mbadi said. Photographer: Kang-Chun Cheng/Bloomberg via Getty Images

CBK bond swap attracts low investor interest

November 12, 2026

Can Merging Pension Schemes Strengthen Kenya’s Retirement Benefits Industry

November 12, 2026
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • News
  • Business
  • Technology
  • Real Estate
  • Opinion
  • About Us

Sharp Daily © 2024