@BusinessDaily

Kenya exports to Tanzania hit ten-year low

7 months ago, 1 Jan 16:20

By: Constant Munda

Kenya’s exports to Tanzania in the 10 months to October have plunged to a 10-year low amid unresolved trade spats between Nairobi and Dar es Salaam, hurting local manufacturers and traders. Exports to Tanzania in the period to October stood at Sh23.38 billion, down from Sh28.86 billion in the same period a year earlier — reflecting a 18.9 per cent drop. This is the lowest exports since 2007 and suggests that trade between Kenya and Tanzania has not been lifted by the 2010 formation the East African Community (EAC), which was expected to boost commerce between the six-member countries. The coming into force of the EAC Common Market Protocol on July 1, 2010 saw export volumes to Tanzania rise to a record Sh38.23 billion in the 10-month review period in 2012. The pact allows for free movement of goods, people, labour, services and capital from each of the six partner states, South Sudan being the latest member. Tanzania is, however, the only EAC member affiliated to the Southern African Development Community, meaning the country could also be looking south for supplies at preferential terms. A number of trade disputes last year, however, saw exports value sink to levels before the EAC trade deal was ratified. The two countries bitterly squabbled over the 75 per cent tax charge on cigarettes from Kenya and Nairobi’s temporary ban on importation of liquefied petroleum gas through the Namanga border, disputes which were resolved through a temporary truce.  In November, however, the tiff between the two reached near boiling point when Tanzanian authorities auctioned 1,300 heads of cattle after Kenyan herders crossed the border, and burnt 6,400 day-old chicks. Foreign Affairs secretary Amina Mohamed officially protested, but a long lasting deal is yet to be reached. The Kenya Association of Manufacturers blamed the Tanzania Food and Drugs Authority’s for the woes Kenyan firms face at Namanga border.
Read More


Category: business corporate news lifestyle economy opinion markets

Suggested

7 hours ago, 00:01
@StandardMedia - By: Otiato Guguyu
Regional markets adopt Kenyan ethical standards

The move is meant to handle corporate governance issues and ensure operators meet high ethical standards. ...

Category: business news
7 hours ago, 00:01
@StandardMedia - By: Dominic Omondi
World Bank proposes more focus on vulnerable groups

The World Bank has faulted Kenya's efforts at combating poverty, noting that they fell short compared to its poorer neighbours Tanzania and Uganda. ...

Category: business news
8 hours ago, 00:00
@StandardMedia - By: Standard Team
Consumers get respite as court suspends new taxes

Mobile money service providers and banks had notified their customers of changes in taxation ...

Category: business news
8 hours ago, 23:29
@AfricaNews - By: Michael Ike Dibie ...
Airbus and Boeing sign more than $100 billion worth of deals at the Farnborough Airshow | Africanews

Airbus and Boeing at the opening day of the Farnborough Airshow on Monday in England, the two companies said they have so far signed deals worth more than $100 billion. ...

Category: africa africa_business business news
13 hours ago, 19:00
@BusinessDaily - By: Rushdie Oudia 
Homa Bay faces uncertainty as Awiti loses seat

Homa Bay County is either headed for another round of gruelling election campaigns or a third round of legal battle at the Supreme Court. ...

Category: business lifestyle news corporate markets economy
7 hours ago, 00:01
@StandardMedia - By: Lee Mwiti
Kenya Airways and Fairmont Hotels and Resorts Kenya sign deal

Kenya Airways and Fairmont Hotels and Resorts Kenya sign a MoU that will promote service offerings and guest experience. ...

Category: business news

@BusinessDaily

Kenya exports to Tanzania hit ten-year low

7 months ago, 1 Jan 16:20

By: Constant Munda
Kenya’s exports to Tanzania in the 10 months to October have plunged to a 10-year low amid unresolved trade spats between Nairobi and Dar es Salaam, hurting local manufacturers and traders. Exports to Tanzania in the period to October stood at Sh23.38 billion, down from Sh28.86 billion in the same period a year earlier — reflecting a 18.9 per cent drop. This is the lowest exports since 2007 and suggests that trade between Kenya and Tanzania has not been lifted by the 2010 formation the East African Community (EAC), which was expected to boost commerce between the six-member countries. The coming into force of the EAC Common Market Protocol on July 1, 2010 saw export volumes to Tanzania rise to a record Sh38.23 billion in the 10-month review period in 2012. The pact allows for free movement of goods, people, labour, services and capital from each of the six partner states, South Sudan being the latest member. Tanzania is, however, the only EAC member affiliated to the Southern African Development Community, meaning the country could also be looking south for supplies at preferential terms. A number of trade disputes last year, however, saw exports value sink to levels before the EAC trade deal was ratified. The two countries bitterly squabbled over the 75 per cent tax charge on cigarettes from Kenya and Nairobi’s temporary ban on importation of liquefied petroleum gas through the Namanga border, disputes which were resolved through a temporary truce.  In November, however, the tiff between the two reached near boiling point when Tanzanian authorities auctioned 1,300 heads of cattle after Kenyan herders crossed the border, and burnt 6,400 day-old chicks. Foreign Affairs secretary Amina Mohamed officially protested, but a long lasting deal is yet to be reached. The Kenya Association of Manufacturers blamed the Tanzania Food and Drugs Authority’s for the woes Kenyan firms face at Namanga border.
Read More

Category: business corporate news lifestyle economy opinion markets

Suggested

7 hours ago, 00:01
@StandardMedia - By: Otiato Guguyu
Regional markets adopt Kenyan ethical standards

The move is meant to handle corporate governance issues and ensure operators meet high ethical standards. ...

Category: business news
7 hours ago, 00:01
@StandardMedia - By: Dominic Omondi
World Bank proposes more focus on vulnerable groups

The World Bank has faulted Kenya's efforts at combating poverty, noting that they fell short compared to its poorer neighbours Tanzania and Uganda. ...

Category: business news
8 hours ago, 00:00
@StandardMedia - By: Standard Team
Consumers get respite as court suspends new taxes

Mobile money service providers and banks had notified their customers of changes in taxation ...

Category: business news
8 hours ago, 23:29
@AfricaNews - By: Michael Ike Dibie ...
Airbus and Boeing sign more than $100 billion worth of deals at the Farnborough Airshow | Africanews

Airbus and Boeing at the opening day of the Farnborough Airshow on Monday in England, the two companies said they have so far signed deals worth more than $100 billion. ...

Category: africa africa_business business news
13 hours ago, 19:00
@BusinessDaily - By: Rushdie Oudia 
Homa Bay faces uncertainty as Awiti loses seat

Homa Bay County is either headed for another round of gruelling election campaigns or a third round of legal battle at the Supreme Court. ...

Category: business lifestyle news corporate markets economy
7 hours ago, 00:01
@StandardMedia - By: Lee Mwiti
Kenya Airways and Fairmont Hotels and Resorts Kenya sign deal

Kenya Airways and Fairmont Hotels and Resorts Kenya sign a MoU that will promote service offerings and guest experience. ...

Category: business news
Our App