Policy Measures to Improve the Import- Export Structure
- 1. Establishing import substitution industries to produce goods which were formally imported.
- Setting up export promotion industries to produce manufactured goods for export as a way of reducing the predominance of exports of agricultural products
- Economic diversification in order to reduce over dependence on a few agricultural exports.
- Establishing training institutions as a comprehensive policy aimed at training local man power. This helps to reduce over reliance, on expatriates
- Signing international commodity agreements to stabilize prices of agricultural exports.
- Widening the export market by carrying out research and joining regional integration like East African Community (EAC), Common Market for East and Southern Africa (COMESA) etc.
- Encouraging the exportation of non-traditional crops like sunflower, flowers, fish, vanilla etc.
- Improvement of social and economic infrastructures to facilitate production, distribution, transportation and marketing of exports.
- Putting in place favorable investment policies that can attract both local and foreign investors to produce enough commodities for domestic consumption and export purposes.
- Promoting value addition to exports of agricultural products. This helps to increase export prices and export earnings.
- Expanding the invisible export sector especially the tourism sector so as to increase the foreign exchange earnings.
CATEGORIES Economics
TAGS Dr. Bbosa Science
