Kenya, Tanzania trade volume doubles to Ksh.60 billion
Kenya and Tanzania’s trade volume doubled within a six-month period after President Uhuru Kenyatta and Samia Suluhu struck a bilateral trade deal in May last year.
According to Central Bank of Kenya (CBK) data shared by the East Africa Business Council (EABC), the value of trade bounced from Ksh.30.6 billion to Ksh.60 billion between June and November 2021, a 96 percent increase.
Tanzania’s imports into Kenya grew from Ksh.14.6 billion a year earlier to Ksh.33.7 billion which represents 130.8 percent growth whereas Kenya’s exports into Tanzania grew from Ksh.16 billion in November 2020 to Ksh.26.3 billion which is a 64 percent growth.
The talk between the two heads of state resolved enterprise disputes between the two countries significantly, which featured non-tariff barriers mostly covering obstruction on goods entering either side of the border with activity at the border proceeding slowly and almost coming to a stop from time to time.
However, traders operating across both borders have complained of high clearing cost of cargo on the Kenyan side of the border which has hiked up to 70 percent due to several processes and clearing departments.
On the brighter side, Namanga One Stop Border Point (OSBP) Station Manager said 250 trucks are now being cleared daily which is a three times improvement as compared to May last year.
Additional reporting from Citizen Digital.