National News

USD 1.5m for trade policy development

The Government through the Ministry of Trade and Industry received USD 1.5 million from Enhance Integrated Trade Framework (EIF) based in Geneva at World Trade Organization desk to develop trade policy after joining the East African economic bloc.

The first phase of the project shall take 900,000USD mainly for polices and capacity building and it is scheduled to run for four years while a sum of 600,000USD has been budgeted for the second phase of the project.

Biel Jock Thich, the Undersecretary in the Ministry of Trade and Industry told the press after meeting with the EIF official that the country was depending only on “one sided trade”.

He said there is need to set a foundation for legal framework and trade policies that fit with the East African Community.

“This project will start within two to three weeks and we need to review our trade policies so as to attract investors to put their money where there is legal framework and protection for investment,” Thich said.

He said according to the studies conducted, areas of trade still needs a lot of projects, saying the government and stakeholders will come up with proper projects to improve trade in the country.

“Without trade you will not have good economy,” Thich said. “No development and unemployment of youth. As government, we have come out with this initiative as the first priority for development in the country”.

Meanwhile, on his part the Country Co-coordinator for Enhance Integrated Trade Framework (EIF) Simon Hess said South Sudan has agricultural and tourism potential and the country only needs trade for her tremendous development.

He said his Organization shall develop trade systems for the country in order to participate in the global market.

“Enhance Integrated Framework is a commitment of the global  community to work with countries like South Sudan in building up capacity and developing trade potential,” Hess said.

He said they will make sure the trade reaches down to everybody at the ground.

South Sudan is among the 50 countries set to benefit from the 300million US dollars funding meant for the development of trade policy through Integrated Trade Framework with the donation from the World Bank, UNDP and many others.

By Kidega Livingstone

 

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