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Kampala: TMEA recognised for generating $97m of surplus trade to Uganda

January 4, 2017 9:37 am by: Category: Agriculture, Banking, Construction, East Africa, Energy, Featured, In Focus, Industry A+ / A-

 

By Correspondent

TradeMark East Africa was in December recognised for generating $97m of additional trade to Uganda.

TMEA has been awarded a Certificate of Special Recognition by H.E. President Yoweri Museveni at the annual Visionaries of Uganda Awards following the organisation’s work in Uganda.

This is a Presidential initiative that recognises investors, private sector and donor institutions whose work has had a transformative social-economic impact on the people of Uganda.

TMEA was recognised for best contribution to infrastructure and trade facilitation.

Since the TMEA programmes began in Uganda – working closely with the Ministry of Works and Transport (MoWT) – waiting times for trucks on border posts have been reduced by up to 70 per cent after one-stop custom mechanisms were introduced, therefore eliminating the need for customs checks on both sides of the border.

Furthermore, the Uganda Revenue Authority has seen a 48 per cent increase in tax revenues, after moving to a 24hour web-based processing customs system. The move has also led to processing time being reduced by 30 per cent from 120 hours to 84 hours.

TradeMark East Africa (TMEA) has been awarded a Certificate of Special Recognition by H.E. President Yoweri Museveni at the annual Visionaries of Uganda Awards following the organisation’s work in Uganda.

This is a Presidential initiative that recognises investors, private sector and donor institutions whose work has had a transformative social-economic impact on the people of Uganda.  TradeMark East Africa (TMEA) was recognised for best contribution to infrastructure and trade facilitation.

Since the TradeMark East Africa (TMEA) programmes began in Uganda – working closely with the Ministry of Works and Transport (MoWT) – waiting times for trucks on border posts have been reduced by up to 70 per cent after one-stop custom mechanisms were introduced, therefore eliminating the need for customs checks on both sides of the border.

Furthermore, the Uganda Revenue Authority has seen a 48 per cent increase in tax revenues, after moving to a 24hour web-based processing customs system. The move has also led to processing time being reduced by 30per cent from 120 hours to 84 hours.

Frank Matsaert, Chief Executive Officer of Trade Mark East Africa, commented on the receiving award: “The work we undertake at TradeMark East Africa (TMEA) across Uganda has significantly reduced the cost and time of doing business in the country and has made a tangible difference to the lives of Ugandans.

We are grateful to be recognised by H.E. President Museveni, for this award and for the recognition our work in Uganda has received. We look forward to maintaining our excellent relationship with the Government of Uganda and reaffirm our commitment to the development of the Ugandan economy”.

The award followed the outcome of an independent evaluation which concluded that the TMEA’s Uganda programmes directly contributed to inducing additional trade worth $97m.

Kirunda Kivenjinja, Second Deputy Prime Minister and Minister of East African Community Affairs, commented when awarding the prize: “The elimination of non-tariff barriers, upgrading of custom systems and custom reforms, improvement of testing by UNBS have all had a significant impact upon the U

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Kampala: TMEA recognised for generating $97m of surplus trade to Uganda Reviewed by on .   By Correspondent TradeMark East Africa was in December recognised for generating $97m of additional trade to Uganda. TMEA has been awarded a Certificate of Sp   By Correspondent TradeMark East Africa was in December recognised for generating $97m of additional trade to Uganda. TMEA has been awarded a Certificate of Sp Rating: 0

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