By Kenya News Agency
Cabinet Secretary for Investments, Trade, and Industry, Salim Mvurya, emphasized the importance of a cohesive regulatory framework to advance the Northern Corridor Integrated Projects (NCIP) under the Commodity Exchange Cluster.
The NCIP aims to establish a single window commodity exchange for East Africa, integrating Kenya, Uganda, Rwanda, and Southern Sudan.
In his speech, delivered by Deputy Director and Head of Regional Trade at the State Department for Trade, Elizabeth Miguda, at a regional meeting in Nairobi, CS Mvurya highlighted that coordinated legislation would enhance trade by streamlining transactions, reducing compliance costs, and eliminating barriers.
He stated, “Creating a single commodity exchange for East Africa is essential for realising the region’s full potential through policy coherence and collaboration among partner states.”
The CS also called for robust infrastructure to support this unified exchange, including roads, storage facilities, and digital systems for efficient trading and information sharing.
“We not only need roads and storage facilities but also digital infrastructure that enables efficient trading and sharing of information. East Africa has abundant resources, including minerals, agricultural products, and human capital, and we can leverage on this diverse expertise, resources, and knowledge to establish infrastructure that works for all partner states,” added the CS.
Dr. Alexis Kabayiza, Rwandan Chief Technical Advisor, echoed these sentiments, highlighting Rwanda’s commitment to implementing NCIP and addressing food trade barriers.
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