Nairobi, July 7 (Xinhua)-East Africa needs to green its leather and textile sector to promote exports, the International Trade Center (ITC), a joint body with the World Trade Organization, said Wednesday The report published in said. United Nations. According to the report, these sectors are the most polluted and have a negative impact on the local environmental quality, especially water resources. “The international value chain and textile value chain are working together to be environmentally friendly and reduce our ecological footprint,” a report co-authored by the Kenya Manufacturers Association (KAM). Says. The ITC says that most of this change towards environmental sustainability is due to large global fashion brands that require supply chain players to comply with internationally agreed standards for wastewater and chemical management. Said it was being promoted. “For East African companies, failure to comply with these standards poses a risk of being left behind in the global supply chain, and missing export market opportunities can be costly,” the report said. The findings show that textiles and leather are promising sectors in East Africa as they can create jobs, drive innovation and economic growth, and drive exports. The report states that these sectors have also been prioritized by most governments in the region in their industry blueprints as a means of paving the way for higher incomes. UN agencies say that despite the existence of comprehensive global standards and best practices, East Africa lacks an understanding of the steps required for compliance. The report states that local policymakers,...

The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has tasked the Federal Government with the full implementation of the African Continental Free Trade Area (AfCFTA) so that the country could tap from the huge benefits presented by the trade agreement. The National President of NACCIMA, Ide Udeagbala, during his investiture in Aba recently, said: “This is a giant leap towards increasing intra-African trade and creating collective wealth. It is also a bold step to take Africans out of poverty. “We are delighted at the work of the National Action Committee on AfCFTA since its establishment and have been part of its sensitization activities, through the NACCIMA committee on AfCFTA”. The NACCIMA president promised that the Association will continue to push for the full implementation of the agreement and ensure that Nigerian businesses harness its full benefits. Stressing the benefits of the trade deal, he said, AfCFTA will certainly be an important strategy in its quest to ensure Nigeria’s economic influence on the continent; taking note that Nigerian businesses are already strongly rooted in many African countries. In her speech, the immediate past National President of NACCIMA, Hajiya Saratu Iya Aliyu, said that NACCIMA, as a paramount member of the economy will continue to champion the cause of business, through free enterprise, constructive competitiveness and trade facilitation. “In line with the objectives of our association, we will continue to contribute ideas for the overall stability of the nation, while promoting growth in the private sector and exploring...

The United States has, since its founding, been a beacon for free and fair trade throughout the entire world. From rejecting taxes and restrictions on trade during our colonial period under the rule of the British Crown to the power of the U.S. Navy upholding international trading routes post-World War II, our trade practices have established the long and robust groundwork so that Americans have access to goods and markets in all corners of the earth. Yet this pioneering spirit of economic liberalization has not extended fully to our engagement with Africa, a continent with which our nation has a deep and historical connection. The first country to recognize the United States as an independent nation from Britain was the North African country of Morocco –– and while thousands of miles may separate our two continents, many Americans can trace their faith and heritage back to the majestic grounds of Northern and Eastern Africa. Our two histories also acknowledge the troubling and inhumane practice of slavery. The Great Sin of slavery spread throughout the world and left behind the indelible roots of African culture, traditions, innovation, and history that have inspired and shaped the world and our country. Despite our oft-communal history with the African continent, policymakers in Washington hardly understand its peoples, cultures, and governments. Not surprisingly, this may be why we have yet to fully appreciate the growing economic and political powerhouse Africa has become. Let me throw out just a few noteworthy pieces of information: Africa represents...

By Aletha Mudyahoto- The African Continental Free Trade Area (AfCFTA) is a true manifestation of how ideas have been transformed from ideologies into development. Officially opened in January 2021, the AfCFTA aims to create a single market, requiring member states to lift tariffs from 90% of goods inorder to promote free access to commodities, goods and services across the continent. A free trade area is the region encompassing a trade bloc whose members have signed a free trade agreement sealing economic cooperation. AfCFTA covers trade in goods and services, investment and intellectual property rights etc. The full benefits of the AfCFTA are yet to be realised because it’s operations have been affected heavily by the persistent corona virus (covid-19) which has ravaged the whole continent, endangering economies resulting in disruption of industrial production, financial markets have become volatile, slow movement of goods and people as well as closure of borders which have slowed trade facilitation. The AfCFTA presents a crucial opportunity for regional integration, all member states are unified for a common interest of economic growth and development. The ability to successfully trade under the AfCFTA refutes the idea that Africans cannot prosper without dependency or inter- dependency on Western countries. Intra- Africa trade gives member states access to vast markets, with the removal of trade barriers countries are able to export their products and goods in many quantities and an increase in exports means an increase in domestic income and the flow of foreign currency and eventually reduction of...

Summary Mwilima toyed with the idea of making affordable and reusable sanitary towels. She found that menstrual hygiene was no isolated problem for teenagers but rather a serious dilemma facing many women in rural and urban areas. She is a full time menstrual hygiene activist, and socialpreneur. A chance meeting with a teenager suffering from dysmenorrhea commonly known as painful period pains, who also lacked hygienic sanitary towels, set off Mwanaidi Abdul Mwilima, 32, on the path of entrepreneurship. That was back in 2017 when she worked in procurement. Mwilima then toyed with the idea of making affordable and reusable sanitary towels as a way of solving a problem that is biologically natural but considered taboo even to discuss. As she struggled with how to be of help, she found that menstrual hygiene was no isolated problem for teenagers but rather a serious dilemma facing many women in rural and urban areas. There were misconceptions, taboos and lack of menstrual hygiene knowledge, making it wholly unpleasant for affected women. “I knew then that I wanted be the change I want to see. I am a strong believer in the mantra change begins with us, and not expecting someone else to be at the frontline to improve our situations, and the idea of making reusable sanitary pads was born,” says Mwilima. In 2019, she officially registered her company, Jollie, with the help of a ‘’soft’’ loan as a member of the Tanzania Women Chamber of Commerce (TWCC), and bought sewing machines,...

LUANDA - The Secretary-General of the African Continental Free Trade Area (AfCFTA), Wamkele Mene, said on Monday that Africa will soon have a new trading standard with the development of the organization. Mene made the remarks after talks with Angolan President Joao Lourenco over issues related to challenges and development of the AfCFTA, the world's largest free trade area in terms of the number of participating countries. With trade commencing as of Jan. 1, 2021, the AfCFTA represents reality, the secretary-general said, adding that the new standard will facilitate regional trade and investment and boost continental economic integration. Mene said he was very encouraged by the commitment of the Angolan president, who has pledged to give full support to the organization's management. According to Mene, a total of 39 countries have signed and ratified the free trade zone agreement, which means they are committed to removing trade barriers and promoting integration in Africa. At the summit in Kigali, Rwanda in March 2018, 44 countries signed the agreement. A total of 54 countries have signed the agreement so far. Read original article

United Kingdom High Commissioner to Tanzania David William Concar has visited the East African Business Council (EABC) Offices in Arusha. EABC is the regional apex body of private sector associations and Corporates from the 6 East African countries which was established in 1997 to foster the interests of the private sector in the integration process of the East African Community. The UK High Commissioner was welcomed by EABC Chief Executive Officer Mr. John Bosco Kalisa on Monday July 05, 2021 which was his debut day in office. TradeMark Africa (TMA) Mr. Kalisa who made his remarks while in his office appreciated the United Kingdom (UK) support to East African Business Council through TradeMark Africa (TMA) and highlighted the importance of the private sector as the driver of socio-economic growth in the East African Community region. TMA works closely with EAC institutions, national governments, the private sector and civil society organizations to increase trade by unlocking economic potential through reducing barriers to trade and increased business competitiveness. It is funded by a range of development agencies to promote prosperity in East Africa through trade. TMA operates on a not-for-profit basis and is funded by the development agencies of the following countries: Belgium, Canada, Denmark, Finland, Netherlands, Norway, UK, and USA. Established in 2010, TMA supports a portfolio of programmes across the East Africa Community partner countries, working closely with our partners – the EAC Partner States, EAC Secretariat, the private sector and civil society – TMA has made a significant contribution...

TDB and TMA will work together towards developing trade supportive infrastructure in the region; Institutions will collaborate on supporting information technology innovations in trade, logistics and transportation; Via trade, institutions will contribute to combatting the effects of the COVID- 19 Nairobi, 18 June 2021 – TradeMark Africa (TMA) and the Eastern and Southern African Trade & Development Bank (TDB) have today signed a Memorandum of Understanding (MoU) that establishes a framework for collaboration ultimately seeking to boost trade in the region served by both institutions. By leveraging the two institutions’ expertise in project development and finance, TMA and TDB will endeavour to jointly pursue targeted investments in trade logistics and production systems, including roads, ports and industrial parks projects, and to facilitate structured trade finance transactions of commodities. Moreover, institutions will work to collaborate in carrying-out analytical and advisory services aiming, among other things, to support the digitization of trade and investment processes as well as information technology innovations in trade, logistics and transportation. Additionally, the MoU provides for the facilitation of innovation and capacity development for regional businesses, so as to enable them to effectively engage in global and regional trade transactions with high development impact. The agreement will also enable TMA and TDB to jointly contribute to mitigating the adverse effects of the COVID-19 pandemic in the region, via enhanced regional trade, trade supportive infrastructure, and digitalization of trade. Speaking during the MoU signing TMA Chairman Amb. Erastus Mwencha hailed the collaboration as one that will greatly support...

UAE port operator DP World and the government of Somaliland opened a new container terminal in the Berbera port this week. The new terminal increases the port’s container capacity from 150,000 Twenty-Foot Equivalent Units (TEUs) to 500,000 TEUs annually, and is the first phase in a broader expansion that aims to position Berbera port as a major oil and gas trade corridor for landlocked Ethiopia. The port is strategically located on the Gulf of Aden, a crucial maritime hub for a fast-growing region that processes up to 20% of global trade annually. The first phase is part of an expansion deal signed with DP World in 2016 worth a total of $442 million. Designed to transform the dusty East African port into one of the continent’s premier facilities, it heralded a new dawn for Somaliland, one of the world’s poorest jurisdictions. While the state has many of the hallmarks of nationhood, including a currency, army and democratically-elected leaders, its bid for international recognition has stalled. Yet leaders in the capital, Hargeisa, hope international investment holds the key to official independence. “DP World is a big international company that dared to come to Somaliland, and I hope that a lot of other companies will follow,” said President Musa Bihi Abdi in 2018. Read original article

Many emerging economies – from the Middle East & Africa (MEA) to Latin America to parts of Asia – have seen great economic growth and the rise of digital transformation. Even before COVID-19, the increase and potential of cross-border digital transactions – such as with the likes of financial technologies (or fintech) – has grown; the pandemic further accelerated that. For those that follow international trade news, a major headline has been the new African Continental Free Trade Agreement (AfCFTA) that began into force this year. It brings the majority of African Union member countries, which the continent as a whole is home to over 1.3 billion people, a free trade agreement. Free trade agreements are nothing new, but specifically with emerging economies, how can they use it to their advantage by promoting overall economic development and also opening digital borders? OVERVIEW OF FREE TRADE Simply, a Free trade Agreement (FTA), according to the International Trade Administration (ITA), is an agreement between two or more countries that agree on something pertaining to trade in goods and services. Topics that can be covered and could be protected include the likes of intellectual property rights, protections of certain industries – to name a few.  Examples include the likes of the former North American Free Trade Agreement (NAFTA) – now known as the United States–Mexico–Canada Agreement (USMCA) that was championed by former US President Donald Trump. An FTA also sets a foundation for more integrated relations that can stem into a customs union – such as South America’s MERCOSUR and even more intertwined such...