Gatumba-Kavimvira, October 29, 2023 – In a significant step toward enhancing regional trade and integration, Burundi and the Democratic Republic of Congo (DRC) officially launched the Simplified Trade Regime (STR) at the Gatumba-Kavimvira border crossing yesterday. This initiative aims to facilitate small-scale cross-border trade and improve livelihoods in border areas, particularly for women and youth.
Chileshe Mpundu Kapwepwe, Secretary General of the Common Market for Eastern and Southern Africa (COMESA), addressed attendees at the launch, expressing gratitude to both governments for their commitment to the Great Lakes Trade Facilitation and Integration Project (GLTFIP). He acknowledged the vital financial support from the World Bank Group, emphasizing its role in promoting regional integration and investment.
“The STR is expected to contribute significantly towards safe, fast, and resilient small-scale cross-border trade and integration,” Kapwepwe stated, highlighting the initiative’s potential to transform local economies. The signing of Ministerial Decrees by both governments marks a pivotal moment, setting the stage for improved trade relations and living standards in border communities.
Kapwepwe urged stakeholders from both the public and private sectors to collaborate closely to ensure the STR’s successful implementation. He underscored the importance of maintaining open communication channels to address emerging challenges and facilitate compliance with customs regulations.
Burundi and the Democratic Republic of Congo (DRC) have established the COMESA Simplified Trade Regime (RECOS) to facilitate cross-border trade between the two countries. This agreement allows small traders to benefit from a zero customs duty on eligible products valued at up to $500 per transaction per day.
Key components include the official recognition of small traders and deal in goods from a common bilateral list, simplified customs document and a Certificate of Origin for eligible products.l of traders.
The ordinance repeals any conflicting prior regulations and allows for updates to the product lists as necessary.
As this journey begins, the commitment of both nations, supported by COMESA, signifies a promising future for trade in the Great Lakes region.