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Effects of the EAC Common Market Protocol on Businesses |
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Friday, 03 September 2010 |
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What is a common market?
A Common Market is a merger/union of two or more territories/ nations to form one common territory in which there is free movement of goods, labour, services and capital, and the right of establishment and residence. The basic elements of a common market are: A smoothly functioning customs union including complete elimination of all tariff and non tariff barriers plus a common external tariff Free movement of persons, labour, services and right of establishment and residence Free movement of capital within the Community Enhanced macro-economic policy harmonisation and coordination particularly with regards to fiscal regimes and monetary policy Setting up, strengthening and empowering the necessary institutions/organs to support the common market operations (in the case of the EAC these include the East African Court of Justice and the East African Legislative Assembly)
Objectives of the EAC Common Market The overall objective of the EAC Common Market is to widen and deepen cooperation among the Partner States in the economic and social fields for the benefit of the Partner States and their citizens. |
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Negotiation skills when meeting customers |
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Friday, 03 September 2010 |
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Proper communication with importers is very vital; exporters need to know the techniques of attracting the buyer and getting a response which will progress to sealing a deal.
Note that importers receive numerous enquiries worldwide and are likely to open emails having domains of registered companies (e.g. bata.com, cocacola.co.ke) rather than emails with public domains like yahoo.com, gmail.com or hotmail.com. Exporters are advised to acquire suitable email address indicating their company domain (e.g.
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
). You can get his is can from internet service providers. Making a telephone call is highly advisable using the international calling facilities.
Before communicating one has to know thoroughly the product, price, capacity and your importer.
When negotiating with foreign importers take cognizance of their culture, behaviour and language. Below are some tips on negotiating with buyers from Europe; |
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Trade Inquiries as on 3th Sept, 2010 |
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Friday, 03 September 2010 |
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In this issue, there are contacts for fresh fruits, tea, textiles & frabrics, oils, petroleum products, handicrafts and leather products. Remember the few points we once shared before contacting any of them. The key point is that you must have a competitive advantage. |
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