South Sudan National Revenue Authority (NRA) and TradeMark Africa (TMA) have signed a Memorandum of Understanding committing to establish modern trade systems and procedures to support faster clearance and transiting of goods. This will build on work that TradeMark Africa (TMA) in partnership with the governments is undertaking at Elegu-Nimule border, the main crossing point between Uganda and South Sudan. The partners stated that attention will be given to enhancing faster clearance and movement of humanitarian goods coming into South Sudan aiming to halve the time it takes from current 2 days to one day or less. Of recent cargo destined for South Sudan has been delayed at Container Freight Stations in Mombasa, the designed interventions will ease the process. This will involve facilitating their movement from the port of entry, either Mombasa or Dar es Salaam to the South Sudan borders. TradeMark Africa (TMA) was represented by its Chief Executive Officer (CEO) Frank Matsaert, while the National Revenue Authority was represented by the Commissioner General, Dr. Olympio Attipoe. The MOU will be in force for the next three years. Making his remarks, the NRA Commissioner General, Dr. Olympio said, “We are opening a new chapter with TradeMark Africa by signing this MOU that aims at promoting fiscal transparency, accountability and effective revenue mobilization.” On his part TradeMark Africa (TMA) CEO Mr. Matsaert said, “We believe in the people of South Sudan; their resilience and adaptiveness is what has inspired us to renew our partnership here and work with the...

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JUBA, Aug. 16 (Xinhua) -- South Sudan on Friday signed a framework agreement with Trade Mark East Africa (TMA), a regional trade facilitating body, to ease movement of humanitarian cargo and relief supplies in the country. Olympio Attipoe, head of the National Revenue Authority (NRA), lauded the memorandum of understanding reached between the two parties that will include setting up of the digitized regional electronic cargo tracking system and trade information portals to help improve revenue collection. "The MoU being signed today is very significant and timely because of the current macro-economic realities in the country and the government's quest to diversify revenue base from overreliance on oil revenue to non-oil revenue," he told journalists in Juba. He said that the support from Trade Mark East Africa and other development partners meets the general objective in chapter four of the signed revitalized peace agreement as it aims to improve on fiscal sustainability, transparency and accountability of revenue. South Sudan, a member of the East African Community that includes Uganda, Kenya, and Tanzania, Burundi and Rwanda, is already implementing the non-oil revenue mobilization and accountability project funded by the African Development Bank (AfDB) aimed at enhancing non-oil revenue administration. "The MoU will shape the present and future relationship between the two organizations and define how national revenue authority and Trade Mark East Africa will continue to work together on technical and infrastructure support to customs division of the national revenue authority," said Attipoe. He also noted that besides supporting capacity building...

AFRICA Olympio Attipoe South Sudan on Friday signed a framework agreement with Trade Mark East Africa (TMA), a regional trade facilitating body, to ease movement of humanitarian cargo and relief supplies in the country. Olympio Attipoe, head of the National Revenue Authority (NRA), lauded the memorandum of understanding reached between the two parties that will include setting up of the digitized regional electronic cargo tracking system and trade information portals to help improve revenue collection. "The MoU being signed today is very significant and timely because of the current macro-economic realities in the country and the government's quest to diversify revenue base from overreliance on oil revenue to non-oil revenue," he told journalists in Juba. He said that the support from Trade Mark East Africa and other development partners meets the general objective in chapter four of the signed revitalized peace agreement as it aims to improve on fiscal sustainability, transparency and accountability of revenue. South Sudan, a member of the East African Community that includes Uganda, Kenya, and Tanzania, Burundi and Rwanda, is already implementing the non-oil revenue mobilization and accountability project funded by the African Development Bank (AfDB) aimed at enhancing non-oil revenue administration. "The MoU will shape the present and future relationship between the two organizations and define how national revenue authority and Trade Mark East Africa will continue to work together on technical and infrastructure support to customs division of the national revenue authority," said Attipoe. He also noted that besides supporting capacity building of the customs...

South Sudan inks deal with regional trade lobby to ease movement of cargo Cargo Attipoe, Head of the National Revenue Authority (NRA), lauded the memorandum of understanding reached between the two parties. Memorandum will include setting up of the digitised regional electronic cargo tracking system and trade information portals to help improve revenue collection. “The MoU being signed today is very significant and timely because of the current macro-economic realities in the country. “Also the government’s quest to diversify revenue base from overreliance on oil revenue to non-oil revenue,” he told journalists in Juba. He said that the support from Trade Mark East Africa and other development partners meets the general objective in chapter four of the signed revitalised peace agreement as it aims to improve on fiscal sustainability, transparency and accountability of revenue. South Sudan, is a member of the East African Community which includes Uganda, Kenya, and Tanzania, Burundi and Rwanda. South Sudan is already implementing the non-oil revenue mobilisation and accountability project funded by the African Development Bank (AfDB) aimed at enhancing non-oil revenue administration. “The MoU will shape the present and future relationship between the two organisations and define how national revenue authority and Trade Mark East Africa. The authority will continue to work together on technical and infrastructure support to customs division of the national revenue authority,” said Attipoe. He also noted that besides supporting capacity building of the customs department, Trade Mark East Africa is also facilitating the construction of the Nimule border parking...

(MENAFN) South Sudan and regional trade facilitating body Trade Mark East Africa (TMA) inked a memorandum of understanding with a purpose to facilitate movement of humanitarian cargo and relief supplies. Under the agreement, the two sides are likely to establish a digitized regional electronic cargo tracking system, unveiled head of the National Revenue Authority (NRA) Olympio Attipoe. Both sides are also expected through the deal to trade information portals in order to boost the collection of revenue, the chief affirmed. Attipoe addd: "the MoU being signed today is very significant and timely because of the current macro-economic realities in the country and the government's quest to diversify revenue base from overreliance on oil revenue to non-oil revenue." MENAFN1808201900450000ID1098895245 Source: MENAFN

Intra-African trade declined to 14.4 per cent in 2018, with the continental countries trading more with the Asia, according to a review by the African Development Bank (AfDB) The Annual Development Effectiveness Review 2019, indicates the activity was low against a 2015 baseline of 14.6 per cent and a target for 2018 at 17 per cent. The trade is expected to reach 25 per cent in 2025. AfDB said non-tariff barriers and a lack of political goodwill to address the challenges impede progress. It also cites poor infrastructure in roads and energy transmission lines constructed or rehabilitated to enhance cross-border trade. “Intra-Africa trade could grow by up to 15 per cent if the bilateral tariffs that are applied today in Africa are eliminated and the rules of origin kept simple and transparent,” AfDB said. The bank points to barriers that could restrain the African regional economic integration that was given a boost in March 2018 with the established African Continental Free Trade Area (AfCFTA). The AfCFTA is projected to increase intra-African trade by 52 per cent by 2022. Kenya ratified the deal. AfCFTA became operational in July after meeting the ratification threshold from other 22 countries. “By committing countries to remove tariffs on 90 per cent of goods, liberalising tariffs on services and addressing other non-tariff barriers, AfCFTA is expected to significantly increase the value of intra-Africa trade and investment,” notes the report. According to the bank, barriers such as cost of trading across borders remains high, more than Sh245,000 (at $2384), after falling slightly in 2017. According to AfDB, the countries are making initiatives...

The coming together of the East African Community members to harmonize customs processes has not only made it easier for traders to do business but also drastically reduced serious transnational crimes and enhanced revenue collection. This is mainly attributed to the implementation of the Single Customs Territory. Established in 2014, the SCT has reduced the cost of doing business by eliminating duplication of processes. It has also reduced administrative costs, regulatory requirements and the risks associated with non-compliance on the transit of goods. This is because taxes are paid at the first point of entry for all the partner states. Going by the latest statistics on revenue collection from the borders, it is evident that the investment on joint Customs initiatives is bearing fruits. Most One Stop Border Posts, being one of the SCT initiative, coadministered by KRA customs and revenue agencies from the other EAC member states have registered growth in revenue. Commonly traded goods in the region include sugar, timber, unprocessed tobacco and fresh farm produce, coffee, cotton lint, teak logs/beams, construction materials, vehicle spare parts and manufactured goods. Further, the OSBP concept has increased border crossing speed and efficiency hence reducing barriers to trade and improving business competitiveness. The average time taken to clear a truck is 5-10 minutes compared to 2-3 days previously. On the Northern Corridor, the turnaround time of goods transitin from Mombasa to Kampala has been reduced from 18 days to four, and goods from Mombasa to Kigali, from 21 days to six....

Ambassador Katureebe Tayebwa Consul - General of Uganda in Mombasa said more commitment was required from all stakeholders’ especially political leaders and state bureaucrats to remove barriers to trade. TRADE Many direct and indirect trade barriers continue to hinder increased trade among East Africans which could have led to increased prosperity in the region. Ambassador Katureebe Tayebwa Consul - General of Uganda in Mombasa said more commitment was required from all stakeholders’ especially political leaders and state bureaucrats to remove barriers to trade. This was during the Third Trade and Business Facilitation Symposium 2019 organized by the Consulate of Uganda in Mombasa and Trade Mark East Africa, an institution seeking to push prosperity in the region through increased trade. Tayebwa cited that Uganda’s tea exports go to the Port of Mombasa for the tea auction and so the two countries need each other. “We need to tackle the challenges that continue to hinder the seamless movement of goods in the region. We need to create networks in the region to harness the opportunities presented as well as create a platform where we can share challenges encountered in trade," Tayebwa said. Tayebwa said trade and business facilitation will be successful when supported through transformation of the economy and investing in infrastructure.' He said the governments in the region were investing heavily in infrastructure development. “We need to increase exports from the region. No country can develop without setting up industries for exports which create jobs and bring in foreign exchange,” Tayebwa...

East African Community member states are working towards linking the regional electronic payment system to other payment solutions in Africa, to moderate trade around the continent following the launch of the African Continent Free Trade Area (AfCFTA). EAC central banks are now finding ways of transforming the system by linking it with other payment solutions in Africa to allow seamless transfer of cash across the continent at both retail and wholesale levels. Bank of Uganda’s deputy governor Dr Louis Kasekende said the move will help improve intra-Africa trade and support the growth of regional firms. At present, Kenya controls transactions in the EAPS, which allows citizens of member countries to make and receive payments in regional currencies — the Kenyan shilling, Ugandan shilling, Tanzanian shilling, Rwandan franc and Burundian franc. South Sudan is yet to join the system, which links the respective real time gross settlements (RTGS) systems of Kenya, Uganda, Tanzania, Rwanda and Burundi. The operationalisation of the EAPS was largely meant to stregnthen regional currency convertibility. Kenya’s Central Bank is working in partnership with other regional central banks to smoothen the acceptance of the EAC domestic currencies as a way of enhancing regional trade and lowering transaction costs. In other regional blocs such as the Common Market for Eastern and Southern Africa, execution of currency convertibility has been enhanced by grouping member states into clusters. These are the Southern African subgroup, Northern African subgroup, Central and Eastern African subgroup and the Indian Ocean subgroup. According to the Comesa...