Published on June 1, 2024 by Agencies for Kenya Online News
Last Updated on 2 years by Agencies for Kenya Online News
Dar Es Salaam, Tanzania, 28 May 2024: The Fair Competition Commission (FCC) of Tanzania and TradeMark Africa (TMA) have signed a three-year Partner Support Agreement (PSA) aimed at modernising FCC’s operations and strengthening its ability to regulate competition, consumer protection and combat counterfeit activities effectively.
Funded by UK International Development, Ireland, and Norway, the Tzs1.56 billion (£600,000) project is designed to address existing market competition and consumer enforcement challenges in the Tanzanian market, including delays in approving mergers and acquisitions, issues with managing anti-competitive trade practices, and difficulties in enforcing anti-counterfeit measures at borders and ports. This initiative promises to transform the trading landscape in Tanzania, making it more competitive, transparent, and inclusive.
The PSA is expected to deliver significant benefits, such as reduced time and costs associated with trade and investment procedures, a decrease in the prevalence of counterfeit products, and enhanced consumer protection. It marks a critical step towards not only improving FCC’s operational efficiency but also boosting both domestic and foreign investment in Tanzania.
At the signing and launch of the programme, FCC Director General, Mr William Erio, stated, “We welcome this strategic partnership with TradeMark Africa as a significant milestone in our efforts to strengthen regulatory capacity and enforcement. Together, we aim to create a level playing field for businesses, promote market competition, protect consumer interests, and support sustainable economic growth in Tanzania. These goals are in line with sixth phase government priorities of improving business environment.”
The agreement includes plans to automate the Commission’s processes, extensive training, and provision of ICT equipment as a working tool for FCC personnel, and significant upgrades to the Commission’s ICT infrastructure. These changes are expected to streamline workflows, reduce decision-making timelines, increase transparency, and foster a more competitive and secure environment for trade and investment in the country.
TradeMark Africa’s Tanzania Country Director, Mr Elibariki Shammy, expressed his enthusiasm about the partnership, commenting, “Our collaborative efforts with the FCC are a major step towards streamlining business processes and boosting Tanzania’s profile in global trade. Through automation, capacity building, and enhanced ICT capabilities, we anticipate not only improved trade outcomes but also a fortified regulatory framework that will benefit all stakeholders.”
Mr Shammy added that TMA remains committed to fostering sustainable economic development in Tanzania through such initiatives, equipping the Commission with the necessary tools and resources to tackle counterfeiting and enforce fair competition. He noted that TMA is laying the foundation for a thriving business environment that prioritises integrity and consumer welfare.
The initiative also aims to contribute to regional economic integration and aligns with the broader goals of increasing intra-African trade under the African Continental Free Trade Area (AfCFTA) and procedures related to competition regulation and consumer protection framework under East Africa Community.
“The expected outcomes of this partnership include a more transparent and efficient trade environment, reduced time at borders, and a robust framework for consumer protection. It’s a win-win for all, and we are committed to ensuring these benefits are realised,” concluded Mr Elibariki Shammy.
Enhanced regulatory practices are expected to lower trade barriers, encourage investments, and promote market competition landscape in Tanzania.
