GOVERNMENT OF THE KINGDOM OF DENMARK PROVIDES KSHS. 2 BILLION TO TRADEMARK EAST AFRICA IN SUPPORT OF REGIONAL INTEGRATION

Nairobi-16 December, 2011
The Government of the Kingdom of Denmark has signed a contribution agreement today with TradeMark Africa (TMA). The grant agreement will make available DKK 136 million (One Hundred and Thirty Six Million Danish Kroner (approximately KShs. 2billion) to support regional economic integration through TradeMark Africa (TMA) over the period 1st January 2012 to 31st December 2014.
The grant will be allocated to the TradeMark Africa (TMA) Regional Programme. Part of the grant, approximately KShs. 100million, will be used solely for the purposes of the design and implementation of the Business Across Borders Component (known as “BizAB”).
As part of Denmark’s strategy for development cooperation, Denmark wishes to put more emphasis on regional economic integration and development. Denmark believes that supporting measures towards increased trade in the region will be a major factor in accelerating economic growth and employment generation.
The areas of support will include:

Promotion of cross-border infrastructure projects.
Efficiency improvements at border crossing.
Removal of non-tariff barriers.
Furthering liberalisation and harmonisation of trade rules.

As stated by H.E. Royal Danish Ambassador, Mr. Geert Aagaard Andersen during the signing, “East Africa’s potential has never been greater. We want the region to develop into a vibrant part of the world economy. It must also be remembered that integration is not only about economics. Integration does also provide peace and stability. Denmark believes that TradeMark Africa (TMA) is an appropriate vehicle to push forward the agenda on economic integration and development and we stand ready to do our part to push forward the realization of this agenda within the East Africa region.”

Charlie Appleton of KPMG and the Chair of the TradeMark Africa (TMA) Board of Directors signed the agreement on behalf of TradeMark Africa (TMA). He noted, “This contribution by the Government of the Kingdom of Denmark is very timely. After one year’s implementation TradeMark Africa’s (TMA) comprehensive programme to facilitate the removal of trade barriers, reduce the region’s transport costs and increase the pace of economic integration is gearing up. All these activities are essential to sustain the region’s growth rates and reduce poverty.” KPMG act as Custodians to TradeMark Africa (TMA) and fulfills the role of overseeing fiduciary and risk management on behalf of the investors.

In his Statement TradeMark Africa (TMA) CEO, Frank Matsaert, said “The Danish government continues to be a key ally in promoting regional and economic integration in East Africa. TradeMark Africa will continue to focus its efforts in building the capacity of the private sector in East Africa and investing in key priority projects including one stop border posts (OSBPs) and the port of Mombasa that will result in a reduction in cross border transit costs and time”.

Find out more about Trademark East Africa.

NOTES FOR EDITORS

To arrange for interviews please contact:
[su_row] [su_column size=”1/3″]
Susan Mwangi

Communications Manager
TradeMark Africa
Phone: +254 731 061 649
Email: hrfesusan.mwangi@trademarkea.com
[/su_column][su_column size=”1/3″]
Anne N. Angwenyi

Programme Officer
Royal Danish Embassy
Phone: +254 710 607 385
Email: annean@um.dk[/su_column][su_column size=”1/3″][/su_column][/su_row]

Source: TradeMark Africa(TMA)

TradeMark Africa (TMA) is an aid-for-trade organisation that was established with the aim of growing prosperity in East Africa through increased trade. TradeMark Africa (TMA) operates on a not-for-profit basis and is funded by the development agencies of the following countries: Belgium, Canada, Denmark, Finland, the Netherlands, UK, and USA. TradeMark Africa (TMA) works closely with East African Community (EAC) institutions, national governments, the private sector and civil society organisations.