Former Ethiopian PM Tapped for TMA Chair --[Reported by Umva mag]

Hailemariam Desalegn has taken over as the new chair of TradeMark Africa (TMA) after the term of Erastus Mwencha came to an end after serving at the helm for eight years.

Mr Desalegn’s appointment comes as TMA targets ambitious objectives, including increasing African exports, supporting the African Continental Free Trade Area (AfCFTA) implementation, and expanding its operations from East Africa to West and Southern Africa.

The organisation will work closely with Regional Economic Communities, national institutions, the private sector, and international partners.

TMA has been instrumental in advancing trade facilitation efforts, particularly in reducing the time and costs associated with cross-border trade.

The organisation has spearheaded initiatives such as the implementation of digital trade systems, One Stop Border Posts, and the harmonisation of standards across Eastern and the Horn of Africa.

With its recent expansion into West Africa, TMA plans to replicate successful projects that have cut down trade barriers.

Currently in its third strategic phase, covering 2023 to 2030, TMA aims to raise approximately $700 million to support trade programmes in its operational regions.

This funding will be directed towards improving trade systems at key agencies such as revenue authorities and ports, assisting SMEs in market access, and collaborating with standards bureaus to harmonise standards and enhance awareness of phytosanitary measures, among other initiatives.

news@businessdayafrica.org

The following news has been carefully analyzed, curated, and compiled by Umva Mag from a diverse range of people, sources, and reputable platforms. Our editorial team strives to ensure the accuracy and reliability of the information we provide. By combining insights from multiple perspectives, we aim to offer a well-rounded and comprehensive understanding of the events and stories that shape our world. Umva Mag values transparency, accountability, and journalistic integrity, ensuring that each piece of content is delivered with the utmost professionalism.