PUBLISHED ON November 11th, 2014

EAC urged to form single regulatory agencies to ease trade

The East African Community should form regional regulatory agencies instead of each country having its own, which adds to trade barriers, according to the African Development Bank.

“The complex set of separate organisations existing at present often overlap and capacity would be more effective if it were operating in a less complicated environment,” AfDB says in its East Africa Annual Report 2014.

The pan-African lender says single agencies would help the bloc to streamline and boost efficiency of cross-border processes by removing non-tariff trade barriers.

In an interview last week, Trade Mark East Africa chief executive Frank Matsaert, whose firm is helping in the regional integration process, said the countries must understand the various forms of non-tariff barriers to ease cross-border flow of people and goods.

“All member states need to invest in monetary mechanisms that can help expose and deal with these barriers both at national and regional levels, because they keep popping up from time to time,” he said.

Eliminating non-tariff barriers is anticipated to reduce costs of doing business within the trade bloc, which shares some of the infrastructure such as ports, roads and railways.

Source: The Star

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