@BusinessDaily

Kenya exports to Tanzania hit ten-year low

10 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

1 hours ago, 10:30
@BusinessDaily - By: Doreen Wainainah ...
Airtime tax confusion risks Sh20bn budget

The commencement date of the new taxes introduced in the President’s Finance Bill memo to Parliament remains unclear. ...

Category: business news
11 hours ago, 00:03
@TheStar - By: Elizabeth Kivuva ...
Petrol price decreases as kerosene rises in latest ERC review

Households depending on kerosene for cooking and lighting will continue to pay more following a new review on retail pump prices by Energy Regulatory Commission. The price of kerosene increased by Sh0 ...

Category: topnews news business
11 hours ago, 00:00
@StandardMedia - By: Edward Macharia
Fuel prices up weighed by rising crude oil cost

The average cost of imported super petrol went down by about two per cent last month compared to August. ...

Category: business news topnews
16 hours ago, 19:00
@DailyNation - By: Bonface Otieno
No respite as diesel, kerosene prices increase

Super petrol prices have dropped by Sh1.06 per litre while diesel and kerosene went up Sh1.60 and Sh0.43 respectively in the latest review by the ERC. ...

Category: topnews news business
16 hours ago, 19:00
@DailyNation - By: David Mwere
Kenyan envoys pay billions in rent as houses rot in London, US

Diplomats in London and New York have been forced to rent homes as residences built by taxpayers fall apart due to neglect, the Auditor-General reveals. ...

Category: topnews news business
11 hours ago, 00:00
@StandardMedia - By: Edward Kosut
Desperate farmers sell 90kg bag of maize for between Sh1,000 and Sh1,200

A 90kg bag of maize is currently retailing at between Sh1,000 and Sh1,500. ...

Category: business news

@BusinessDaily

Kenya exports to Tanzania hit ten-year low

10 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

1 hours ago, 10:30
@BusinessDaily - By: Doreen Wainainah ...
Airtime tax confusion risks Sh20bn budget

The commencement date of the new taxes introduced in the President’s Finance Bill memo to Parliament remains unclear. ...

Category: business news
11 hours ago, 00:03
@TheStar - By: Elizabeth Kivuva ...
Petrol price decreases as kerosene rises in latest ERC review

Households depending on kerosene for cooking and lighting will continue to pay more following a new review on retail pump prices by Energy Regulatory Commission. The price of kerosene increased by Sh0 ...

Category: topnews news business
11 hours ago, 00:00
@StandardMedia - By: Edward Macharia
Fuel prices up weighed by rising crude oil cost

The average cost of imported super petrol went down by about two per cent last month compared to August. ...

Category: business news topnews
16 hours ago, 19:00
@DailyNation - By: Bonface Otieno
No respite as diesel, kerosene prices increase

Super petrol prices have dropped by Sh1.06 per litre while diesel and kerosene went up Sh1.60 and Sh0.43 respectively in the latest review by the ERC. ...

Category: topnews news business
16 hours ago, 19:00
@DailyNation - By: David Mwere
Kenyan envoys pay billions in rent as houses rot in London, US

Diplomats in London and New York have been forced to rent homes as residences built by taxpayers fall apart due to neglect, the Auditor-General reveals. ...

Category: topnews news business
11 hours ago, 00:00
@StandardMedia - By: Edward Kosut
Desperate farmers sell 90kg bag of maize for between Sh1,000 and Sh1,200

A 90kg bag of maize is currently retailing at between Sh1,000 and Sh1,500. ...

Category: business news
Our App