REPRESENTATIVES from the six East African Community (EAC) partner states meet in Mombasa tomorrow for the ninth East African Petroleum conference and exhibitions. Dubbed the EACPCE 19, the three-day conference is expected to offer a wide range of technical presentations reflecting on developments in the oil and gas industry in East Africa and globally. A statement released by the corporate communications and public affairs department of the EAC Secretariat here yesterday said the conference will also offer a platform for discussions on the legal and policy framework as well as overall business environment prevailing in the region. “It gives stakeholders in the oil and gas sector an opportunity to interact with EAC senior government officials and decision makers,” said the statement. Some of the topics that will come up for discussion during the meeting include licensing regimes, East African Rift Basins, East African Coastal Basins, Offshore Exploration Opportunities Exploration in inland Basins and Petroleum Data Management. It will also delve on meeting the regional petroleum needs, crude oil and refined petroleum products pipelines, exploring on exportation and refining options for crude oil. Comprising of six partner states—Tanzania, Kenya, Uganda, Burundi, Rwanda and South Sudan—with a combined population of over 168 million, EAC’s broad goal is economic, social and political integration to create wealth in the region and enhance competitiveness through increased production trade and investment. The community seeks to improve the quality of life for the people in the region through its mission of widening and deepening integration and the...

The Africa Continental Free Trade Area (AfCFTA) is set to float on 30th May. On the off chance that each African nation joins, it’s required to be one of the world’s biggest single markets, accounting for $4 trillion in spending and investment across the 54 nations. The AfCFTA will give business owners over the continent access to an a lot bigger market. It’s along these lines significant that youthful African business people see how the AfCFTA could profit them and their endeavors. As mindfulness is raised, business owners should start making new exchange guides for their organizations, educated by the understanding. It’s envisioned that the free trade area will lead to increased competition, innovation and prosperity for Africa’s people in the long term. But for the AfCFTA’s gains to be realized, entrepreneurs and policy-makers must be aligned. They must engage with each other to provide structure and clarity around how goods and services will move, and around the benefits that the agreement will bring to business. These discussions between entrepreneurs and the trade ministries of their country will also enable the review and updating of national trade policies, discussions which will benefit both the government and business communities. Source: How Africa

The EU has today made public its text proposal on future rules and obligations on e-commerce as part of WTO negotiations on e-commerce endorsed by Ministers in the margins of the Davos World Economic Forum in January 2019. The release of the text proposal is part of the EU’s commitment to transparency and inclusiveness in the development of its trade policy. The increasing digitalization of the economy and the rapid increase in e-commerce are having a tremendous impact on businesses and consumers across the world, both in developed and developing countries. Despite this fast increase of digital trade, there are currently no multilateral rules regulating this type of trade. Businesses and consumers instead have to rely on a patchwork of rules agreed by some countries in their bilateral or regional trade agreements. The EU considers that global trade policy responses can most effectively address the global opportunities and challenges brought by digital trade. The EU is therefore fully committed to advancing the WTO negotiations on e-commerce, which have just started. It will seek to negotiate a commercially meaningful set of rules on e-commerce with as many WTO Members as possible. To this end, the EU tabled initial negotiating proposals for a broad set of rules and commitments that would for instance: Guarantee the validity of e-contracts and e-signatures Strengthen consumer consumers' trust in the on-line environment Adopt measures to effectively combat spam Tackle barriers that prevent cross-border sales today Address forced data localisation requirements, while ensuring protection of personal data...

The African Union (AU) Commission has said that the African Continental Free Trade Agreement (AfCFTA) is set to enter into force on May 30. The one-month timeframe to activate the continental free trade pact came as Sierra Leone and the Saharawi Republic deposited their instruments of AfCFTA ratification to the AU Commission, the AU said in a statement late Wednesday. "The two deposits meet the minimum threshold of ratifications required under Article 23 of the AfCFTA Agreement for it to enter into force 30 days after the deposit of the 22nd deposit, which is made by the Saharawi Republic," the statement said. "The AfCFTA Agreement will, in this regard, enter into force on 30th May, 2019," it said. "All that is now left is for the African Union and African Ministers of Trade to finalize work on supporting instruments to facilitate the launch of the operational phase of the AfCFTA during the Extra-Ordinary Summit of African heads of state and government on July 7, 2019," the AU statement said. According to the 55-member pan-African bloc, the AfCFTA's supporting instruments include the rules of origin, schedules of tariff concessions on trade in goods, online non-tariff barriers monitoring and elimination mechanism, digital payments and settlement platform, and an African Trade Observatory Portal. The AU said recently deposits of ratifications are also expected from Zimbabwe and Gambia following the ratification of the AfCFTA by the two AU member countries' parliaments. The African ministers of trade are "scheduled to meet in Kampala, capital of...

that the government has so far done a commendable job towards making the country a middle-income industrial economy. The task force has presented its report to a closed-door meeting of the TNBC Executive Committee, which is chaired by the Chief Secretary. The committee is the second supreme organ of the TNBC. The national business council is chaired by the president of Tanzania. Addressing the press after presenting the report, the co-chairman of the task force (private sector), Ali Mufuruki said the task force was satisfied with the measures taken by the government in a fresh bid to modernise and industrialise Tanzania. “We had exhaustive consultations with a wide range of people on this important issue from both sides. We are content with step taken by the government in pursuit of this goal,” assured Mufuruki. Steps taken include securing airplanes, building of roads, power projects and establishment of other types of physical infrastructure, the chairman said. As a result of the consultations, he explained, the private sector has submitted to the committee a draft policy on industries. Asked to shed light on the submitted document, Mufuruki said experts proposed the kind of industries to be given priority, the importance of research, the importance of having an education system that prepares students for the kind of work and life they will face after studies. “In that document we are calling for a fresh approach that pays sufficient attention to the capabilities of our people, the existing opportunities, economic empowerment of Tanzanians and...

As far as trading blocs go, the EU has been a global case study of turning a free market into a common market. Faced with notable challenges in the integration process such as the consecutive crises in the Exchange Rate Mechanism in the early 90’s, the EU defied all odds and continued to expand in depth and geography in a historic feat. However, only two years ago, this ideal trading bloc took a hit with the Brexit vote, which triggered a global conversation on regional trading, agreements and integration towards creating shared prosperity for the countries involved. In our own context, a snapshot of intra–EAC trade in the past few years will reveal tension-filled and sometimes hectic trade-relations, as well as an overall cloud of uncertainty on the future of the regional community.  Yet with our geographical advantages, natural resources and global reputation, the EAC holds huge potential to set the pace for the Africa Continental Free Trade Area (AfCFTA) and lead the continent into a new age trading with the world on an equal and mutually beneficial platform. Whilst there isn’t much comparison to be made with the EU, one indisputable thing is that their integration process was marred by political and social differences, especially with bringing on board Eastern-European countries. This often caused uproar in member states with populations demanding that their nations’ ‘needs come first’. Through the chaos, nonetheless, members designed new institutions with a view to open up markets and for ideological alignments. Our challenges in integration...

A team from the Department for International Development – United Kingdom (DFID-UK), has pledged to continue supporting Kenya Ports Authority (KPA) to achieve operational efficiencies especially in the area of innovation. Led by Head of DFID-Kenya, Julius Court and officials from Trade Mark East Africa, the team visited Mombasa Port where they were impressed by the degree of planning and investments at the port and vowed to continue with the collaboration. KPA General Manager Engineering services, Eng Rashid Salim and the Head of Corporate Development Martin Mutuku took the delegation through a presentation, followed by a tour of key facilities. Trade Mark East Africa collaborates with KPA in a number of projects including the Green Port Policy, one of the most significant projects that KPA is spearheading, to protect the environment. Last year KPA acquired 4 eco-hoppers funded by Trade Mark East Africa to reduce dust emission when handling dirty cargo. Source: Vash Media

The Africa Continental Free Trade Area (AfCFTA) is set to launch on 30th May. If every African country joins, it’s expected to be one of the world’s largest single markets, accounting for $4 trillion in spending and investment across the 54 countries. The AfCFTA will give entrepreneurs across the continent access to a much larger market. It's therefore important that young African entrepreneurs understand how the AfCFTA could benefit them and their ventures. As awareness is raised, entrepreneurs should begin crafting new trade roadmaps for their businesses, informed by the agreement. It's envisioned that the free trade area will lead to increased competition, innovation and prosperity for Africa’s people in the long term. But for the AfCFTA’s gains to be realized, entrepreneurs and policy-makers must be aligned. They must engage with each other to provide structure and clarity around how goods and services will move, and around the benefits that the agreement will bring to business. These discussions between entrepreneurs and the trade ministries of their country will also enable the review and updating of national trade policies, discussions which will benefit both the government and business communities. Source: Luvictatics

What is arguably Africa’s most ambitious economic programme in recent times is the African Continental Free Trade Area (AfCFTA), whose agreement was signed in Rwanda on March 21, 2018. Briefly, AfCFTA’s overriding objective is to create “a single continental market for goods and services, with free movement of people and investments”. If – and when – that happens, AfCFTA would become the world’s largest trade area, and the key to unlock the continent’s economic potential by making it that much easier for African countries to freely trade with one another. Indeed, a united African continent of 55 countries working towards common goals would be a major force on the global economic stage. To that end, 44 African state leaders signed the agreement last year, with half that number needed to ratify the same to move the project forward. In due course of time and events, Gambia became the 22nd country to ratify the agreement – joining some of Africa’s largest economies, including Egypt and South Africa – thereby crossing the threshold and officially setting in motion the wheels of project implementation. Despite meeting the 22-country threshold, the fact that Africa’s biggest economy, Nigeria, has yet to sign the agreement, let alone ratify the same, is likely to complicate the negotiations. And, while Tanzania, Burundi and South Sudan within the six-member East African Community signed the agreement, they have yet to ratify it. This is also another problem, especially when the negotiations involve regional economic blocs such as the EAC, which...

At their meeting in Arusha on Thursday 25th April,2019, members of East Africa Business Council (EABC) who teamed up with United Nations Economic Commission for Africa (ECA) said they foresee large potential gains from the AfCFTA, including an increase in intra-African exports of Eastern Africa by nearly Tshs.2.3 trillion ($1 billion) and job creation of 0.5 to 1.9 million `Together African economies have a collective gross domestic product (GDP) of $2.5 trillion, making it the 8th largest economy in the world. That makes the continent much more attractive to investment, both from within and from outside the continent, ` said Andrew Mold, the acting Director of ECA in Eastern Africa.`This should encourage business people to take advantage of AfCFTA and make the investments necessary to sustain economic growth and create employment, ` Mold added. EABC Chairman, Nick Nesbitt emphasized the importance of the continent having a clear vision to put an end to the fragmentation of the internal market. `I really applaud everybody who has been involved in creating the AfCFTA because their vision is the one of pan-Africanism,` Nesbitt said. `It is something our founding fathers aspired to. Our thanks to ECA for being at forefront of this conversation and pushing the agenda forward so that the continent becomes a single economic trading bloc, ` he added. Speaking at the same gathering, Director General of Customs and Trade at the East African Community Secretariat, Kenneth Bagamuhunda cited the experience of regional economic communities as the building blocks for the AfCFTA. `The AfCFTA should...