{{Uganda will this week, assume the chair of the Common Market for Eastern and Southern Africa (COMESA), a development that trade experts believe will bring huge benefits to the country.}}<\/p>\n
Despite being a COMESA member, Uganda will for the first time also enter the free trade area (FTA) regime of the regional trade bloc.<\/p>\n
Joining the FTA means the tariff charges on the majority of imports and exports between Uganda and other COMESA states will drop to 2% from 10% compared to what is levied on goods from states like China except for sensitive goods.<\/p>\n
President Yoweri Museveni is expected to chair the 19-member trade bloc for the next one year.<\/p>\n
As the chair, the country will also have the opportunity to influence discussions and decisions especially on trade related matters.<\/p>\n
Uganda’s Trade minister Amelia Kyambadde on Tuesday said one of the biggest opportunities from COMESA is the raising of the tax threshold to $2,000 for cross-border trade.<\/p>\n
This means small traders and businesses operating in the bloc can carry goods worth up to $2,000 tax free across the borders.<\/p>\n
COMESA secretariat has also set up business support centers for documentation for registered small traders.<\/p>\n","protected":false},"excerpt":{"rendered":"
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