East African governments have stepped up the war against and speculative foreign currency trading. The latest effort has seen the region's central banks and capital markets regulators tighten forex trading regulations to weed out fraudsters from the lucrative business.It is argued that illegal forex trading stands to trigger inflation in the region and weaken local currencies, which would make imports expensive and further worsen budget deficits for regional economies.For instance, in Tanzania, the local currency depreciated by 0.3 per cent between September and October this year and 2.2 per cent on average in the past 10 months, according to data compiled by global advisory firm Strat Link.The Tanzanian shilling closed the month of November at 2,291.7 units against the US dollar, down from 2,281.5 units against the greenback at the beginning of the same month. Bank of Tanzania carried out a six-month investigation into the illegal business, which revealed rampant fraud the forex market business, with several traders involved in money laundering.As a result, the banking regulator launched a crackdown on this illegal business by suspending the licensing of new forex bureaus, arresting some key suspects and barring suspect commercial banks from the interbank forex markets."All applications have been suspended and new applications won't be accepted pending the introduction of new rules and regulations," said BoT Governor Florens Luoga. Tanzania used the military to seal off suspicious forex bureaus as central bank officials raided the outlets.In Rwanda, three public agencies have joined hands to combat the growing black-market forex operations in Kigali. The team comprises the National Bank of Rwanda, the police and the Local Government Ministry.In November, Rwandan security officers arrested five unlicensed forex traders. The Rwanda National Police has intensified operations against illegal foreign exchange dealers including non-licensed forex bureaus.In Rwanda, the law provides that any person who sells or exchanges the national or foreign currency illegally shall be liable to a term of imprisonment of six months to two years and a fine from Rwf200,000 ($224) to Rwf3 million ($3,358).In Uganda, the police have been hunting down illegal forex dealers since 2015, and several suspects have been arrested and detained, according to the Bank of Uganda.Kenya has cautioned investors to be alert of the illegal forex business after the Capital Markets Authority discovered that several dealers were operating without licences."The Authority will take appropriate enforcement action against any persons or entities illegally conducting online foreign exchange trade or collecting client funds in contravention of these regulatory provisions," said CMA chief executive Paul Muthaura.Kenya has set a fine of up to Ksh5 million ($50,000) financial and or imprisonment for a period not exceeding two years for individuals masquerading as online forex brokers, according to Capital Markets (Online Foreign Exchange Trading) Regulations, 2017 which came into effect last year.Source: Allafrica
Packaging is the technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of design, evaluation, and production of packages. Packaging can be described as a coordinated system of preparing goods for transport, warehousing, logistics, sale, and end use. Packaging contains, protects, preserves, transports, informs, and sells.
Package labeling (American English) or labeling (British English) is any written, electronic, or graphic communication on the package or on a separate but associated label.
The purposes of packaging and package labels
Packaging and package labeling have several objectives
Symbols used on packages and labels
Many types of symbols for package labeling are nationally and internationally standardized. For consumer packaging, symbols exist for product certifications (such as the FCC and TÜV marks), trademarks, proof of purchase, etc. Some requirements and symbols exist to communicate aspects of consumer rights and safety, for example the CE marking or the estimated sign that notes conformance to EU weights and measures accuracy regulations. Examples of environmental and recycling symbols include the recycling symbol, the recycling code (which could be a resin identification code), and the "Green Dot". Food packaging may show food contact material symbols. In the European Union, products of animal origin which are intended to be consumed by humans have to carry standard, oval-shaped EC identification and health marks for food safety and quality insurance reasons.
Bar codes, Universal Product Codes, and RFID labels are common to allow automated information management in logistics and retailing. Country of Origin Labeling is often used. Some products might use QR codes or similar matrix barcodes. Packaging may have visible registration marks and other printing calibration/troubleshooting cues.
Shipping container labeling
Technologies related to shipping containers are identification codes, bar codes, and electronic data interchange (EDI). These three core technologies serve to enable the business functions in the process of shipping containers throughout the distribution channel. Each has an essential function: identification codes either relate product information or serve as keys to other data, bar codes allow for the automated input of identification codes and other data, and EDI moves data between trading partners within the distribution channel.
Elements of these core technologies include UPC and EAN item identification codes, the SCC-14 (UPC shipping container code), the SSCC-18 (Serial Shipping Container Codes), Interleaved 2-of-5 and UCC/EAN-128 (newly designated GS1-128) bar code symbologies, and ANSI ASC X12 and UN/EDIFACT EDI standards.
Small parcel carriers often have their own formats. For example, United Parcel Service has a MaxiCode 2-D code for parcel tracking.
RFID labels for shipping containers are also increasing in usage. A Wal-Mart division, Sam's Club, has also moved in this direction and is putting pressure on its suppliers for compliance.[26]
Shipments of hazardous materials or dangerous goods have special information and symbols (labels, placards, etc.) as required by UN, country, and specific carrier requirements. With transport packages, standardized symbols are also used to communicate handling needs. Some are defined in the ASTM D5445 "Standard Practice for Pictorial Markings for Handling of Goods" and ISO 780 "Pictorial marking for handling of goods".
-wholly produced/grown
-substantial transformation
-product specific rules
-excluded goods include beer, soft drinks of the Coca-Cola and Schweppes brand marks, tobacco, sugar, vegetable oil, chickens and eggs, office equipment, petroleum products, weapons, ammunition and explosives
-Quotas apply to some products
-non-reciprocal
-SADC Certificate of Origin/
DA59
-substantial transformation equal to 25 per cent minimum domestic content
-Form 60
- the preferences exclude spirits
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