{"id":628,"date":"2018-08-07T14:54:00","date_gmt":"2018-08-07T14:54:00","guid":{"rendered":"http:\/\/thefreezoneblog.com\/blog\/2018\/08\/07\/kenya-warned-on-pitfalls-of-free-trade\/"},"modified":"2018-08-07T14:54:00","modified_gmt":"2018-08-07T14:54:00","slug":"kenya-warned-on-pitfalls-of-free-trade","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/kenya-warned-on-pitfalls-of-free-trade\/","title":{"rendered":"Kenya warned on pitfalls of Free Trade Zones"},"content":{"rendered":"<div class=\"separator\" style=\"clear: both; text-align: center;\">\n<a href=\"https:\/\/2.bp.blogspot.com\/-BzXKhzUAUAE\/W2myeBvP4iI\/AAAAAAAACdo\/1KVadA0er2oLAJzS6Q3kOxHeTuYiIo3AgCLcBGAs\/s1600\/kenya_warned_on_pitfall.jpg\" imageanchor=\"1\" style=\"clear: left; float: left; margin-bottom: 1em; margin-right: 1em;\"><img loading=\"lazy\" decoding=\"async\" border=\"0\" data-original-height=\"512\" data-original-width=\"800\" height=\"255\" src=\"http:\/\/thefreezoneblog.com\/blog\/wp-content\/uploads\/2018\/08\/kenya_warned_on_pitfall.jpg\" width=\"400\" \/><\/a><\/div>\n<div>\n<\/div>\n<div>\nFree Trade Zones (FTZs) can lead to the growth of illicit trade, fraud<br \/>\nand money laundering if not well monitored, experts have warned.<br \/>\nAccording to the International Trademark Association (INTA), a global<br \/>\nassociation of brand owners and professionals dedicated to supporting<br \/>\ntrademarks and related intellectual property, FTZs have also emerged as a<br \/>\n conduit for counterfeit goods. <\/div>\n<div>\n<\/div>\n<div>\nSpeaking during the Trade Week 2018 in Nairobi, last week, Hazel Okoth,<br \/>\nan advocate and member of INTA, said Kenya needed to place measures that<br \/>\n would ensure such malpractices do not occur.<\/div>\n<div>\n\u201cMoreover, limited institutional capacities to oversee FTZs activities<br \/>\nin many countries has led to the growth of illicit trade and other forms<br \/>\n of criminality such as fraud and money laundering,\u201d said Ms Okoth,<br \/>\nnoting that customs authorities needed to be empowered to closely check<br \/>\nwhat was going into the FTZ.<\/div>\n<div>\n <\/div>\n<div>\nUnder consideration<\/div>\n<div>\nAn FTZ is one of the special economic zones (SEZs) which Kenya intends<br \/>\nto use to power into a high middle-income economy by 2030. <\/div>\n<div>\nIn an FTZ, goods may be, upon arrival, stored, handled, manufactured, or<br \/>\n reconfigured and re-exported under relaxed customs regulations without<br \/>\nbeing subjected to customs duty. Such areas are usually found around a<br \/>\ncountry&#8217;s major seaports and international airports. A good example is<br \/>\nthe famed Dubai free port.<br \/>\nThere are reports that Mombasa could get a free trade zone for motor<br \/>\nvehicles before the end of this year.<\/div>\n<div>\n<\/div>\n<div>\n\u201cIn addition, under the Dongo Kundu Special Economic Zone, a free port<br \/>\nis under consideration on an approximately 3,200-acre parcel of land to<br \/>\nthe West of the port of Mombasa,\u201d said Treasury Cabinet Secretary Henry<br \/>\nRotich in the 2018 Budget Policy Statement.<\/div>\n<div>\n<\/div>\n<div>\nThis would be a big boost to the ongoing development initiatives in<br \/>\nwhich the Government is keen on completing Phase I of the second<br \/>\ncontainer terminal at the port of Mombasa to enhance cargo handling and<br \/>\nstorage and reduce the time to clear cargo. <\/div>\n<div>\n<\/div>\n<div>\nIllicit trade was a major theme in this year\u2019s trade week. Having cast<br \/>\nits eyes on growing manufacturing from the current 10 per cent of gross<br \/>\ndomestic product (GDP) to 15 per cent by 2022, as part of his Big Four<br \/>\nagenda, President Uhuru Kenyatta has since established a multi-agency<br \/>\nteam, whose function is to fight illicit trade. <\/div>\n<div>\n<\/div>\n<p><\/p>\n<div>\n&nbsp;\u201cSince May 11, a crackdown on illicit trade has led to the seizure of<br \/>\ngoods worth Sh7.5 billion,\u201d said deputy to the Head of Public Service<br \/>\nWanyama Musiambo. The goods seized cut across different manufacturing<br \/>\nsectors.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Free Trade Zones (FTZs) can lead to the growth of illicit trade, fraud and money laundering if not well monitored, experts have warned. According to the International Trademark Association (INTA), a global association of brand owners and professionals dedicated to supporting trademarks and related intellectual property, FTZs have also emerged as a conduit for counterfeit [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[129],"class_list":["post-628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-free-trade","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kenya warned on pitfalls of Free Trade Zones - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/kenya-warned-on-pitfalls-of-free-trade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kenya warned on pitfalls of Free Trade Zones - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Free Trade Zones (FTZs) can lead to the growth of illicit trade, fraud and money laundering if not well monitored, experts have warned. 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