Home East Africa Kenya-Tanzania trade cross Sh100 billion marks

Kenya-Tanzania trade cross Sh100 billion marks

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According to the latest official statistics, the value of goods traded between the two countries rose to Sh107.63 billion in 12 months through March 2022, a 66.86 percent growth against Sh64.51 billion the year before.

Reflecting in President Samia Suluhu’s proactive efforts to improve bilateral ties, the annual trade turnover between Kenya and Tanzania crossed the Sh100 billion mark. According to the latest official statistics, the value of goods traded between the two countries rose to Sh107.63 billion in 12 months through March 2022, a 66.86 percent growth against Sh64.51 billion the year before. After becoming President in March 19, 2021, Ms Suluhu pledged to end the persistent trade disputes between the two largest economies in the East African Community bloc. For years, the tariff and non-tariff barriers had slowed the free flow of goods between the two countries. Ms Suluhu paid an official visit to Kenya in May last year and met President Uhuru Kenyatta, to review the bilateral ties which resulted in the instruction from both the leaders to their respective Trade ministries to identify and resolve pending trade disputes.

The principal commodities in Kenya’s import basket from Tanzania include cereals, wood, paper and paperboard, while it largely exports pharmaceutical products, soap, lubricants, iron and steel. Kenya has been enjoying a surplus trade balance with Tanzania.

Recently there has been a slight revival of disputes on the issue of the quality standards of maize from Tanzania, resulting in long queues of trucks awaiting phytosanitary clearance.

Read Also;

https://trendsnafrica.com/more-trade-barriers-eased-out-between-kenya-and-tanzania/

https://trendsnafrica.com/tanzanian-president-holds-parleys-with-kenyan-counterpart-to-sort-out-trade-disputes/

https://trendsnafrica.com/tanzania-doubles-the-cost-of-export-permits-which-may-spark-a-trade-war-with-kenya/

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