Home / Knowledge / News / Rwanda joins EAC Customs Union
Rwanda joins EAC Customs Union
14
Jul '09
Rwanda has joined formally the East African Community (EAC) Customs Union with the Kigali officials, saying that in order to compete with the economic giants of the region favorably; some preventive measures have already been set up in the country.

As the goods from member states are now duty-free, the union will offer lower prices. EAC also planned to enhance the economic cooperation between the new as well as the other members of EAC such as Kenya, Tanzania, Uganda and Burundi.

The intra-EAC trade has witnessed a growth of about 40 percent from 2004. Merger of Rwanda with Burundi enlarges the market size with the population of 120 million people and the combined GDP of around $60 billion.

The large economic region carries certain meaning, only if it is an integrated market with production, investment and trade linkage, said the Director General Customs and Trade EAC, Mr. Peter Kiguta.

The country has commenced implementing a three-band common external tariff (CET) structure. In this structure the raw materials and the capital goods are zero-rated while the intermediate goods attract 10 percent and finished goods draw 25 percent tax.

The CET structure is framed to promote industrialization in the region by reducing the production cost and by cushioning local manufacturers against cheaper imports and counterfeits.

In this regard the Prime Minister, Mr. Bernard Makuza said that expansion of the customs union is an achievement which will make Rwandans take pride on the country's integration efforts.

PM further added that it is contradictory to the belief that the customs union would affect the economies of the partner states in negative sense in terms of revenue erosion and competitiveness.

Rwanda will cater the necessary support and environment to the community, in order to flourish their business and to boost the economy, he added.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search