On the eve of the National Budget Speech 2022, we would like to reiterate the MEXA Budgetary Proposals, which emanated from the series of consultations with members from different export sub-sectors.
MEXA has centered its budgetary proposals on the following 5 key pillars:
- Enhanced Connectivity
- A game-changing Renewable Energy Framework
- Strengthening the Industrial and Export Strategy
- Regulatory clarity
- Improved access and lower cost of Trade Finance
The strategic objective of the MEXA Budget Memorandum 2022 is to accelerate the transformation of the Export sector into a more complex, diversified and value-adding ecosystem.
Please find hereunder more details on the above proposals:
- Strategic Project: Operationalization of the Regional Feeder Vessel
- Reconduction of the Trade Promotion and Marketing Scheme
- Review of the Eligibility criteria under the Freight Rebate Scheme
- Maintain the 50% reduction in port charges
- Extending the TPMS at Imports
Strengthening the Industrial and Export Strategy:
- Country Branding Strategy for the Export Sector
- Reinforcing EDB Marketing Budget
- Rum Exports: Investment in a Logistics Platform, Warehousing in Rotterdam for the Rum Sector
- Africa Warehousing Project: Proposing that the Africa Warehousing Scheme be reviewed to allow for the refund of the Advertising & Marketing costs linked to the initial Market Penetration process.
- To allow Bio-medical companies performing preclinical trials and Export agencies to be qualified under the Export Development Certificate (EDC).
Improved access to and lower cost of Trade Finance:
- Extension of the Export Credit Insurance Refund Scheme for another 2 years from July 2022 to June 2024.