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KEPSA is the private sector apex and umbrella body set up in 2003, to bring together business community in a single voice to engage and influence public policy for an enabling business environment. over 500,000 direct and indirect members..
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TRADE REMEDIES AND CROSS-BORDER TRADE OPPORTUNITIES WITHIN EAC
- Published On: 2024-04-26
On 26th April 2024, KEPSA hosted a webinar on trade remedies and cross-border trade opportunities within the East African Community (EAC). The forum provided insights into the potential of cross-border trade, emphasizing the need for efficient market access and enabling policies to harness the opportunities in the market.
Speakers included Ms. Susan Maingi, Chair of KEPSA Trade and Industry Sector Board; Mr. Godfrey Osoro, a trade policy advisor at the EAC Secretariat and Mr. Chemisto, the acting CEO of the Kenya Trade Remedies Agency.
A detailed historical overview of the concept of trade remedies was presented by Mr. Osoro who linked it to the Industrial Revolution and the subsequent increase in international trade and competition. He explained the provisions of the General Agreement on Tariffs and Trade of 1947 and the establishment of the World Trade Organization (WTO), which adopted comprehensive rules on trade remedies. Additionally, Osoro delved into the intricacies of subsidies, offering insights into their definition, forms, and implications for international trade.
Mr. Osoro underscored the potential effects of subsidies, including unfair competition, market disruption, trade imbalances, and inefficiencies for subsidized entities. Furthermore, Osoro explained the role of countervailing measures in regulating subsidies and outlined the actions that can be taken to address subsidized goods, such as countervailing duties and measures to avoid them.
In his remarks, Mr. Chemisto highlighted some of the requirements for the institution of trade remedies. He noted that it was critical that 25% of a particular industry be proven to be affected by the trade practices before the use of trade remedy tools. He also emphasized the collaboration between competent authorities and the private sector for capacity building and sensitization.
In her concluding remarks, Ms. Susan Maingi the Chair of KEPSA Trade and Industry challenged the Private Sector to take advantage of the opportunities presented by the Trade Remedies regime. She noted that it was prudent to study the reasons behind the low levels of trade between Kenya and Africa in the realm of the Trade Remedies regime.
The following were the agreed Action Items:
- KEPSA will coordinate with the Kenya Trade Remedies Agency to conduct a sensitization and capacity-building program for the private sector on how to use trade remedies to benefit them.
- Kenya Trade Remedies Agency will collaborate with the private sector to ensure that complaints to the national competent authority are supported by 25% of the industry and that the necessary investigations are conducted.
- KEPSA will support the establishment of the EAC Trade Remedies Committee and ensure that the necessary amendments are ratified by all partner states.