Country: Burundi

TradeMark Africa Receives $63 Million from Netherlands to Advance Sustainable Trade and Economic Inclusivity

Nairobi, 8 February: The Government of the Netherlands, through its Ministry of Foreign Affairs, in a significant boost to global trade development, has announced a $63 million funding to TradeMark Africa, a leading aid-for-trade organisation. This strategic investment will fuel TradeMark Africa's Strategy 3, covering the period till 2030, aimed at driving green, sustainable economic growth, fostering innovative trade practices, and promoting inclusive trade across Africa. This move underscores the Netherlands' commitment to enhancing economic opportunities, job creation and facilitating sustainable trade throughout the continent. Marchel Gerrmann, Ambassador for Business and Development Cooperation at Netherlands Ministry of Foreign Affairs, said: “TradeMark Africa will significantly contribute to a more inclusive and prosperous trade landscape for the African continent, benefitting both African and Dutch businesses." The Netherlands’ contribution will be invested in strengthening trade systems so that they benefit local exporters, foster economic growth, and create sustainable livelihoods across diverse sectors. This investment will be instrumental in improving market access for local products at the global level, in addition to bolstering initiatives that drive innovation, research, and development within the African market, enhancing competitiveness and green trading practices. As part of its Africa Strategy, the Netherlands contributes towards the implementation of the African Continental Free Trade Area (AfCFTA). The AfCFTA is expected to boost intra-African trade over 30% by 2045 and is projected to provide an average extra 2.7% GDP boost across the continent. The AfCFTA could lift 30 million Africans out of poverty by 2035, offering market opportunities to both African...

The European Union (EU) Keen to Deepen Trade Ties with Kenya

Members of European Parliament’s International Trade Committee, on November 3, 2022, held talks with teams from TradeMark East Africa, Kenya’s Ministry of Trade and regional private sector representatives on investment opportunities, trade relations and barriers. Led by committee chair, Bernd Lange, the team sought to understand key concerns around the interim Economic Partnership Agreement (EPA) between Kenya and the EU and how trading between the two partners can be more mutually beneficial. Mr. Lange also highlighted the need to reflect on a regional perspective in the negotiations with Kenya, which is no longer categorised as a least developed country (LDC) as its East African Community (EAC) counterparts. While the country’s exports still benefit from preferential treatment, Kenyan exporters face stringent requirements on labelling, rules of origin and phytosanitary standards, according to the State Department of Trade. In the last half a decade, Kenya has been a net buyer of commodities from the EU, with imports hitting US$1.9 billion in 2019, less than half of the US$916 million Kenya exported to the EU, according to the Overseas Development Institute (ODI). Kenya exports mostly horticultural products. With favourable trade conditions and increased efficiencies in the production and supply chains, Kenya can significantly scale up its share of exports of cut flowers, vegetables, macadamia, avocados, sweet potatoes, pineapples, coffee, and apparel, in response to burgeoning demand in the EU. The delegation also heard of how Kenya and East Africa are positioned to tap into the immense potential of the African Continental Free Trade...

Combating COVID-19 and Supporting Recovery

The COVID-19 pandemic has shaken the globe and disrupted the lives of billions of people in every corner of the world. Eastern Africa has not been left unscathed. The pandemic has affected trade and economic activity in a fundamental way. Whereas many have weighed the impact of COVID-19 on health terms, we in trade facilitation have seen firsthand how debilitating its impact has been to global trade, disrupting supply chains across the globe. This knowledge informed our quick adaptation, and helped to offset major trade disruptions experienced in the Eastern, Southern and Horn of Africa Region. The impact of COVID-19 hit TMA closer home. Cuts to donor funding caused by COVID-19 inflicted economic recession in donor countries necessitated a human resource restructuring process, and scaling down of programming. Nevertheless, TMA was resilient and delivered strong impact. I am honoured to mention a few of the interventions and associated impacts achieved in the last year, as I welcome you to read about many more in this annual report. SAFE TRADE Amongst the quick counter and cushioning measures we implemented were the Safe Trade Emergency Facility Programme (Safe Trade), a multi-donor funded and multi- stakeholder programme that enabled governments and communities to adopt short- to medium-term measures for safe continuity of trade. The innovation driving Safe Trade won an award during the Paris Peace Forum due to its focus on the immediate threat posed by the pandemic, and post- COVID-19 recovery that empowered communities to bounce back better. Recovery efforts have also...