Small and medium enterprises (SMEs) will now be able to access firsthand information on trade and investment opportunities across East African Community (EAC) member countries, thanks to a new initiative by youth focused non-governmental organization (NGO).
The Vision for Youth has launched a project known as “SokoMkononi” that aims to identify challenges and enable SMEs to get information on the EAC investment and trade opportunities, according to its director, Ms Violet Ayubu.
This, according to her, is because though the EAC Common Market Protocol became effective on July 1, 2010, many Tanzanians still lack information on the opportunities found in the wider regional market in other member states like Kenya, Uganda, Burundi and Rwanda.
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The common market provides the four freedoms of free movement of goods, labour, services and capital which significantly boost trade and investment and makes the region more productive and prosperous.
“The project commences with Tanzania and Uganda before moving to other EAC states. With it, we seek to ensure that business people are able to understand what is needed to be able to sell products between the two countries,” she said. Specifically, the project seeks to educate business people about the customs, taxation requirements, rule of origin and the products allowed to be traded between countries.
The NGO will also open a portal to allow online discussions between business people and get quick information on what is needed to facilitate the trading exercise.
The Foundation for Civil Society has recently increased skills and knowledge on advocacy on EAC issues among CSOs to increase engagement and participation in EA development agenda.
The Citizen