East African nations approve individual trade pacts with EU if joint deal not reached

A worker delivers certified beef for export into cold storage at Kenya’s main abbatoir, in Machakos county in this April 2017 photo. (AFP)
Updated 02 February 2019

East African nations approve individual trade pacts with EU if joint deal not reached

  • The East African Community and the EU have been at loggerheads for years over signing the so-called Economic Partnership Agreement
  • The bloc launched a common market in 2010 but missed its target of having a common currency in place in 2012

DAR ES SALAAM: East African countries can individually sign separate trade agreements with the European Union (EU) if a joint deal is not reached within the next four months, according to a statement from a meeting of regional leaders.
The East African Community (EAC) and the EU have been at loggerheads for years over signing the so-called Economic Partnership Agreement (EPA), designed to replace preferential trade deals struck down by the World Trade Organization.
“The summit ... decided that the EAC engages the EU on the matter in the next four months to get more clarification on the pertinent issues of concern. Thereafter, partner states who wish to, may or may not sign the EPA,” East African leaders said in a joint statement late on Friday.
The agreement was reached at the summit in the northern Tanzanian town of Arusha on Friday. It was attended by Tanzania’s President John Magufuli, Ugandan President Yoweri Museveni, Rwanda President Paul Kagame and Kenyan President Uhuru Kenyatta.
Kenya and Rwanda signed the agreement in 2016 but it needs approval from all other members of the EAC bloc — Uganda, Tanzania, South Sudan and Burundi — to take effect.
At the summit, Museveni handed over the rotating chairmanship of the EAC to Kagame, who is also the current chairman of the African Union.
The bloc launched a common market in 2010 but missed its target of having a common currency in place in 2012. The stated goal was a political federation, although analysts say that is likely to be many years off if it happens at all.
South Sudan, which joined the bloc in 2016, was not part of initial negotiations on the EPA deal, which began in 2002.
The trade bloc has a combined gross domestic product of $146 billion, according to the EAC website.


Apple to launch first online store in India next week

Updated 18 September 2020

Apple to launch first online store in India next week

  • The company at present uses third-party online and offline retailers to sell its products in the country
  • India has become a key focus of tech giants over the last few years

NEW DELHI: Apple announced Friday that it will launch its first online store in India next week, as it seeks to increase sales in one of the world’s fastest-growing smartphone markets.
The company at present uses third-party online and offline retailers to sell its products in the country.
Apple CEO Tim Cook said in a tweet that the company “can’t wait to connect with our customers and expand support in India.”
The Sept. 23 launch comes ahead of India’s major Hindu festival season beginning next month.
With a nearly 1.4 billion people, including millions of new Internet users every month, India has become a key focus of tech giants over the last few years.
In August, three contract manufacturers for Apple iPhones and South Korea’s Samsung applied for large-scale electronics manufacturing rights in India under a $6.5 billion incentive scheme announced by the government.
Apple assembles some smartphones at Foxconn and Wistron’s plants in two southern Indian states.