Tuesday, March 02, 2004

East Africa: trade agreement signed

The leaders of Kenya, Uganda and Tanzania have signed an agreement establishing the East African Community Customs Union.
[Under the] ... protocol, Uganda and Tanzania will also be able to charge an additional tax on Kenyan products for a five-year period. This is because Kenya's manufacturing sector is much more developed than theirs.
It has taken years to finalize this agreement.
The signing has been postponed four times, marred by differences over proposed taxes on imports into the three countries and intra-EAC trade. The ill-health of Tanzania's Benjamin Mkapa in the run-up to the signing has also contributed to the delay.