M a r k e t N e w s
UNCTAD And TradeMark East Africa signed A US$3.1 Million Agreement Which Is Focused On Facilitating Trade In The Region
Posted on : Monday, 5th August 2019
On 4th July, the two organizations signed a US$3.1 million agreement for the second phase of a project focused on accelerating trade in the region.
The first phase of the project was executed between 2016 and 2018 with a budget of $3.4 million.
The first phase of the project saw the construction of four national trade information portals in Kenya, Rwanda, Tanzania and Uganda, as well as a regional trade portal.
Burundi’s trade portal is being finalized.
The first phase of the collaboration between UNCTAD and TMEA also resulted in the publication of a comprehensive comparative analysis of the gender implications of regional integration and trade policy in the EAC member states.
The project’s second phase will be implemented over four years.
It will build on the institutional governance set by the trade facilitation sub-committee of the East African Community (EAC) and National Trade Facilitation Committees (NTFCs) in each partner state.
The partner states in the project are Burundi, Kenya, Rwanda, Tanzania and Uganda.
Frank Matsaert, TradeMark East Africa’s chief executive officer, said: “Our partnership has helped the countries in the region to put trade on an upward trajectory. Through our joint commitment, we’ll achieve even more success.”
UNCTAD Secretary-General Mukhisa Kituyi said, "We look forward to building on our joint achievements in smoothening reforms that are stimulating trade both within and beyond the region.”
Trade facilitation will improve intra-regional trade and increase the competitiveness of the countries in the EAC.
This phase of the project is expected to strengthen the role and capacity of the NTFCs as coordinating entities of trade facilitation reforms and help them focus on simplifying cross-border trade procedures.
The project is designed to build the capacity of NTFCs to create and sustainably manage enquiry points that offer information and assistance to traders.
It is expected to boost the transparency of trade procedures through trade information portals and increase the capacity of the EAC trade facilitation sub-committee to drive national and regional trade initiatives.
Source : newzmart
