EAC com­mon mar­ket score­card launched

The Star (Kenya) - - News Business - ANGWENYI GICHANA @TheS­tarKenya

The East Africa Com­mu­nity mem­ber states fail­ure to fully com­ply with the Com­mon Mar­ket Pro­to­col is hin­der­ing trade lib­er­al­i­sa­tion in the re­gion, a re­port shows.

How­ever, EAC deputy sec­re­tary gen­eral for fi­nance and ad­min­is­tra­tion, Jesca Eriyo, said re­forms un­der­taken since 2014 have re­duced the num­ber of non-con­form­ing mea­sures to 59 in 2016, down from 63 in 2014.

Eriyo was speak­ing in Kam­pala, Uganda, dur­ing the launch of the EAC Com­mon Mar­ket Score­card 2016.

“The score­card will strengthen the re­gional mar­ket, grow the pri­vate sec­tor, and de­liver ben­e­fits to con­sumers,” Eriyo said.

Score­card 2016 mea­sures part­ner states’ com­pli­ance with the free move­ment of cap­i­tal, ser­vices, and goods. The World Bank group and Trade Mark East Africa took 18 months to de­velop the con­cept at the re­quest of the EAC sec­re­tariat, which su­per­vised the process along­side part­ner states.

The re­port shows Bu­rundi con­tin­ues to earn full points on recog­ni­tion of cer­tifi­cates of ori­gin, an is­sue re­peat­edly iden­ti­fied as a sig­nif­i­cant non-tar­iff bar­rier in 2014.

Kenya con­tin­ues to score 90 per cent. Tan­za­nia’s recog­ni­tion of cer­tifi­cates of ori­gin has im­proved from 50 to 60 per cent, while Rwanda and Uganda’s scores have de­clined, “in­di­cat­ing a wors­en­ing per­for­mance in terms of recog­nis­ing cer­tifi­cates of ori­gin of other EAC mem­ber states”.

Eriyo called for greater in­for­ma­tion shar­ing on the treaty and pro­to­col pro­vi­sions.

World Bank’s East Africa, trade and com­pet­i­tive­ness prac­tice man­ager Cather­ine Masinde, how­ever, said the re­gion has “done a com­mend­able job in re­mov­ing bar­ri­ers to free move­ment of cap­i­tal, ser­vices and goods, although more should be done”.

Uganda East African Busi­ness Coun­cil vice chair­man Kas­sim Omary said: “It is of ut­most im­por­tance to mea­sure the ex­tent to which the EAC part­ner states are trans­lat­ing the Com­mon Mar­ket Pro­to­col into poli­cies that sup­port ac­tu­al­i­sa­tion of free move­ment of peo­ple and work­ers, goods and ser­vices.”

Newspapers in English

Newspapers from Kenya

© PressReader. All rights reserved.