The Africa Trade Forum ended in Addis Ababa Wednesday with Economic Commission for Africa’s Coordinator, David Luke, of the African Trade Policy Centre (ATPC) urging participants to act on conclusions reached in discussions this week as the continent seeks to meet its October 2017 deadline for the implementation of the Continental Free Trade Area (CFTA).
The apparent lack of interest in intra-African trade has taken center stage at an ongoing African investment forum in the Algerian capital, Algiers.
Lowering barriers and tariffs will stimulate the continent’s economies, say leaders
Six years ago it took almost three weeks for a shipping container to travel the 1,100km from the Kenyan port of Mombasa to Kampala, the Ugandan capital. While poor infrastructure did not help, the delays were largely down to the myriad layers of red tape between the two countries. Now that journey is regularly done is seven days.
African countries should align AGOA and their developmental integration agenda - Minister Davies
The Minister of Trade and Industry, Dr Rob Davies has emphasised the importance of export diversification and industrialisation in Africa. He was speaking in Addis Ababa, Ethiopia where he was moderating the Africa Trade Week Panel Discussion on Africa Growth and Opportunity Act (AGOA) and the Continental Free Trade Area (CFTA).
The African growth story is no longer a fairy tale. Over the past decade, multinational companies, private equity funds and infrastructure development programmes have channelled capital to the continent as they began to realise the true potential it holds, but like most emerging market regions, Africa is no longer the ‘flavour of the month’.
The UK government has today been called on by a coalition of ethical fashion producers and retailers to maintain tariff-free access for African goods after Brexit. The request comes as an attempt to strengthen the nascent African garment and footwear industry, which has the potential to become a major ethical source for the UK market. They presented a compelling business case for trading sustainably and ethically in Africa, at an event organised by Proudly Made in Africa and Soul of Africa at the House of Lords, which would allow individuals and communities to trade their way out of poverty, and also improve performance in product supply chains at the same time.
PACCI’s session along the ATW2016 continues today
Today’s session on ‘Trade Facilitation – A priority for chambers of commerce in Africa” was chaired by Mr. Sanusi Maijama-a Ajiya, National Vice-Presidenct (MSME) of Nigerian Association of Chambers of Commerce, Industry, Mines & Agriculture (NACCIMA).
Experts from UNCTAD, African Alliance for E-Commerce, and Managing Directors of Logistics company from Kenya and Ethiopia participated as a panelists.