The Simplified Trade Regime Just Got Complicated

©iStock/znm

"The global pandemic has had a severe negative impact on communities that are heavily dependent on informal cross-border trade, exacerbating, particularly, the challenges faced by women traders," reads the report.

Peter Mathuki, CEO of the East African Business Council (EABC), told The New Times that lockdowns affected women cross border traders especially those who trade under the Simplified Trade Regime (STR).

"Most of these women trade by means of motorcycles, bicycles, and even on foot. These means of transportation aren't allowed to cross the borders," Mathuki said.

The STR is an arrangement implemented by countries to formalize and improve the performance of informal cross border traders and enable them to benefit from regional preferential treatment when importing or exporting goods within the region.

To learn more read how cross-border traders need urgent policy action.

from The Global Small Business Blog https://ift.tt/2OPh27b