From July 1 this year, the East African community officially implemented the decision of the fourth 35% common external tariff (CET). The goods planned to be included include:
Dairy products, meat products, grains, edible oil, beverages and alcohol, sugar and candy, fruits, nuts, coffee, tea, flowers, condiments, furniture, leather products, cotton textiles, clothing, steel products and ceramic products.
The members of the East African community include seven East African countries: Kenya, Uganda, Tanzania, Burundi, Rwanda, South Sudan and the Democratic Republic of the Congo.
At present, the common external tariff (CET) rate of the East European community is divided into three levels, including 25% for end consumer goods, 10% for intermediate products, and 0% for raw materials and capital goods. The original intention was to protect local manufacturing from competition from cheap imports.
Peter mathuki, the Secretary General of the Communist Party of East Asia, said that the implementation of the 35% common foreign tariff was a positive step towards promoting the development of the industrial sector and maximizing the interests of the African free trade area (afcfta). This move would * * the development of intra regional trade by encouraging the development of local manufacturing and improving the added value and industrialization of products.
According to local media, after the maximum common foreign tariff rate is raised from 25% to 35%, the intra regional trade income of the East European community will increase by $18.9 million, the employment rate will increase by 0.03%, and the trade income of Member States will increase by 5.5%.
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