Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

Kenya

Regional trade hurt by non-tariff barriers

NAIROBI, Kenya, Oct 4 – Non-tariff barriers in the East African region remains the biggest challenge for cross-border trade.

EAC Integration Secretary Barack Ndegwa laments that this has led to business people opting to trade with other countries in the continent and not with regional member states.

Ndegwa says this will continue to hinder integration and even the achievement of the intended monitory union, which seeks to have a single currency for the five partner states.

Some of the non-tariff barriers include blocking citizens from moving, studying, working, residing and generally doing business in East Africa.

“I know this may take some time but we will do our best as a country and ensure we deal with this issue once and for all. It has become a song and I think it’s time we look at it seriously,” Ndegwa said.

Ndegwa was speaking to journalists on Friday during an East African Business Council meeting in Nairobi, aimed at addressing the challenges hindering the full realisation of the East African Common Market Protocol.

“At the moment, the EAC region should be looking forward towards having the same growth rate and even establishing a single central bank and not fighting non tariff barriers,” he urged.

Since signing of the agreement in 2010, EAC has only been able to achieve the protocol of customs union, common market and is now headed to implementing the protocol of monetary union.

“While we have made considerable progress in the in the integration process a number of challenges still remain. These challenges are the major impediments to intra-EAC trade,” EAC Affairs, Commerce and Tourism Cabinet Secretary Phyllis Kandie noted while officially opening the forum.

Advertisement. Scroll to continue reading.

Kandie said national laws should be reviewed to conform to the provisions of the EAC Common Market Protocol.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...