Event Details
On July 1st, 2022, the 35%, 4th Band of the EAC Common External Tariff (CET) adopted by Ministers/Cabinet Secretaries in charge of Trade and Finance in the EAC came into effect .
Before the adoption of the 4th band, the EAC CET was structured under three bands:
• 25% for finished goods
• 10% for intermediate goods
• 0% for raw materials and capital goods
The 4th band includes dairy and meat products, cereals, cotton and textiles, iron and steel, edible oils and in addition: furniture, leather products, fresh-cut flowers, fruits and nuts, sugar and confectionery, coffee, tea and spices, textiles and garments, head gears, ceramic products, and paints, among others.
The 4th band CET is seen as a positive step towards the promotion of industry, intra-regional trade growth, creation of employment, protection of nascent industries and a step that aligns with the objectives of the AfCFTA.
While the 4th band is seen as a positive step for regional integration and industrialization, it will, in the interim have some negative effects for example on the purchasing power of citizens as imports from outside of the EAC become more expensive.
The session will unpack the 4th band CET its implementation and impact for private sector.
