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: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Nuno Venda
ROQ

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

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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