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A tariff is a tax placed on goods when they are brought into a country. Governments use tariffs for several reasons. They might want to protect their own industries from…
It has been reported that the Rules of Origin (the “RO”), set forth in Annex 2 of the African Continental Free Trade Area Agreement (the “AfCFTA” and “Treaty,” respectively) and the accompanying Appendix IV constituting the tariff schedule (“Appendix IV”), are close to finalisation, bringing the trade pact’s signatory states a step closer to commercially meaningful trade. The Rules of Origin provide a framework for identifying products or components that are eligible for preferential market access. Under the Treaty, up to 97% of tariff lines are eligible for a gradual phase-out of customs duties. An eligible item that is wholly…
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By Cem Perdar Since the beginning of 2021, there has been an inflation crisis around the world. Important actors of world politics, especially Argentina, Iran, Romania, Lebanon, Russia, Ukraine and Turkey, were seriously affected by the economic earthquake that occurred due to the Covid-19 pandemic and found themselves in the fight against high inflation. The fact that the US dollar experienced serious fluctuation especially against the local exchange rate in these countries started to tire both the producer and the consumer financially. For example, in Turkey, due to the unstoppable increase of the US Dollar rate, coupled with serious inflation,…
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Members of Parliament have asked the government to comprehensively resolve the Uganda-Kenya impasse regarding milk exports.Although the Kenya- Uganda milk war came to light in 2010, after Kenya blocked milk from Uganda, it reached a climax in December last year when Kenya slapped a 16% Value added tax on Ugandan milk entering the market as a means to protect their local market.In January this year, Uganda issued a protest note to Kenya over the seizure of up to 54,000 Kilograms of powdered milk.Uganda produces an estimated 2.6 billion litres of milk yearly with Kenya consuming 144 million of this. The…
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By Damali Ssali. There are several factors that influence the value and volume of trade. However, tariffs on tradeable goods and services are one of the most significant factors. International trade grew dramatically in the second half of the 20th century. As an example, total global trade in 2000 was 22 times greater than it had been 1950. This increase in multilateral international trade occurred when trade barriers, especially tariffs, were significantly reduced or in some cases eliminated across large trade blocks in Asia, America and Europe. Tariffs are taxes levied on imports and exports between states with the aim…
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