Eac Trade Agreements

East African Community (EAC) countries include Kenya, Tanzania, Burundi, Rwanda, South Sudan and Uganda. These nations are below average at different levels of economic activity, such as GDP per capita, population below the poverty line, unemployment and trade. The East African Community has made efforts to strengthen trade by strengthening economic, social and political cooperation in member States. [1] “The objective of the EAC is to gradually establish between them a customs union, a common market, a monetary union and, ultimately, a Political Federation of East African States”. [2] The countries of the East African Community also have active trade with other parts of the world, such as the European Union. Every country is part of the World Trade Organization, with the exception of South Sudan, which remains outside this conglomerate. Together with UNCTAD, we look forward to continued partnership and support for the region`s agenda, which facilitates trade, as highlighted in the Ministerial Declaration. The agreement is in line with the EAC`s Common External Tariff. It prohibits any unjustified or discriminatory restrictions on imports and exports. This will help the EAC reduce non-tariff barriers in intra-EAC trade.

In accordance with Article 13 of the Protocol on the Customs Union, the EAC partner countries agreed to eliminate all existing non-tariff barriers and not to create new ones. The United States and the EAC have signed their own Trade and Investment Agreement (TIFA) and a cooperation agreement. TIFA strives to increase trade and investment between the two regions to increase growth, job creation, trade, technology and economic development, while enhancing transparency to prevent corruption. [20] The cooperation agreement aims to strengthen economic relations within the region. The three main areas of the agreement are trade facilitation, sanitary and phytosanitary (SPS) measures and technical barriers to trade (TBT). These areas focus on improving trade between the two companies as well as improving the infrastructure of African nations, such as the U.S. desire to trade more with the rest of the continent and improving a port in Mombasa, Kenya and Dar es Salaam in Tanzania.

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