It is an encouraging news for the East African trade enthusiasts

There is no denying to the fact that economy depends on trade a lot and healthy trade and cargo activities in any region are bound to boost the economy of that region. The poverty-ridden East African region received a good news in this regard.

According to ITC, the East African region exported goods worth more than $2.5 billion in 2017, which stood last year at $2.3 billion. Even though it is still not a very big amount but things are significantly improving and the stagnancy in the region’s economy no longer seems to exist.

East African Countries need to set their priorities

East Africa is a big region and a home to 21 countries. Some of the notable countries of this region are Zimbabwe, Kenya, Ethiopia, Somalia, and Madagascar and Uganda. These countries contribute a lot to the overall economy of Africa.

Amid the efforts to harmonise standards in the region, this rise in exports is no less than an achievement. Nevertheless, according to International Trade Centre, the numbers could have been even better, had the East African countries sorted out the issue of harmonising standards quickly.

Brexit; a Midas touch for Africa

After the pole for Brexit, European Union is finding ways to boost trade and logistics in order to curtail the effects of the absence of Britain. Therefore, it is a golden chance for Africa to capitalize on this opportunity and get into more trade agreements and MOUs with EU and UK.

The director Productive Sectors of the East African Community (EAC), Mr Jean Baptiste said: “To tap into the EU market, the region needs to benchmark standards with those in the European Union and East African products should meet the requirements of the European consumers.”

Cargo for the trade is like milk for the tea

Cargo or freight movement contribute a great deal to the trade activities. Cargo to Africa from Europe has seen major improvements in recent years. However, it can be made go further by improving air and sea cargo facilities.

The Airlines functioning in East Africa have not produced an up to the mark performance due to some ground realities which are needed to be eradicated. Private airline service rather than national flag carriers can help a lot in connecting east Africa to the rest of the world.

The permanent connectivity offered by the aviation is imperative for the economy to flourish. Aviation creates jobs and improves trades and upgrade the living standards of the general population. The revenue generated by the airlines also adds to the growth of an economy.

In the similar fashion, seaports play a very important role in the sea cargo of a country. African seaports are a mess and they handle cargo is not a very professional way.

However, there are some exceptions too such as the Port of Mombasa, which registered a new record in container operations by discharging 3872 TEUS in a matter of only eight hours. Other African port authorities should learn from this and implement similar planning at their ports.

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