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FIRST INTRA-AFRICAN TRADE FAIR 2018 in Cairo!

20 July 2018
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The Intra-African Trade Fair 2018

Cairo, Egypt

Egypt International Exhibition Center

11th - 17th December

 

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The Rationale for the Trade Fair

Analysis by the African Export- Import Bank (Afreximbank) shows that one of the main reasons why intra-African trade is low at around 15% compared to Europe (59%), Asia (51%), and North America (37%) is because of lack of access to trade and market information. To address this challenge, Afreximbank decided to, among other initiatives, convene the Intra-African Trade Fair every two years to provide trade and market information and connect buyers and sellers from across the continent.

 

What IATF 2018 has to offer?

The Intra-African Trade Fair is the first of its kind in Africa, consisting of a 7-day trade show that provides a platform for sharing trade, investment and market information and enabling buyers and sellers, investors and countries to meet, discuss and conclude business deals. It provides an opportunity for exhibitors to showcase their goods and services, engage in Business to Business (B2B) exchanges and conclude business deals.

IATF provides a platform for entry into a single market of over one billion people joined together under the African Continental Free Trade Area.

 

Primary Objectives of the Intra-African Trade Fair

  1. To bring together continental and global players to showcase and exhibit their goods and services, and to explore business and investment opportunities in Africa
  2. To serve as a marketplace where buyers and sellers of goods and services meet and explore business opportunities
  3. To provide a platform for B2B exchanges and development of business opportunities
  4. To share trade, investment and market information with stakeholders including investors, SMEs, the informal sector, Africans in Diaspora, and to identify solutions to address the challenges affecting intra-African trade
  5. For Afreximbank and other financial institutions, to share information about their trade finance and trade facilitation interventions that will support intra-African trade
  6. To discuss topical issues affecting intra-African trade and provide practical and effective solutions
  7. To deploy multi-country and multi-company pavilions that will serve as one-stop shop for intra-African trade and investment opportunities in Africa

 

What is Intra-African Trade?

Afreximbank defines intra-African Trade as the trade in goods and services between or among African countries and the flow of goods and services between Africa and Africans in the Diaspora. The scope of intra-African Trade has also been broadened to include informal cross border trade to enable the Bank to design special products and dedicate resources to formalize this trade. 

 

Afreximbank Strategy to promote Intra-African Trade

The Trade Fair is informed by Afreximbank’s strategy for the promotion of Intra-African Trade. The strategy can be summarized under three key pillars: Create, Connect and Deliver

Create: This pillar supports the production of goods and services with a view to enhancing engagement in regional trade. It seeks to build capacity for the expansion of production and processing capabilities, with a focus on agricultural production, agro-processing, manufacturing and services.

Connect: Afrexim seeks to provide traders with links to various markets on the continent. The Bank aims to identify institutions and agents that are able to facilitate the connection of demand and supply across markets. This pillar is central to the trade fair, which is aimed at bringing relevant entities together and facilitating business growth and opportunities.

Deliver:  Here the focus is on facilitating the provision of efficient and cost-effective distribution channels within the continent. This includes the creation of transport logistics, storage and service payment systems, and buyer-financing arrangements which will help to accelerate the flow of goods and services to buyers, thereby creating a market.

The Trade Fair will contribute towards the bank’s objective to increase intra-African trade from USD170 billion in 2014 to USD 250 billion and by so doing, ensure that intra-African trade share of Africa’s total trade reaches 22% by 2021. “Conservatively, intra-Africa trade is a USD 6 trillion opportunity for Africa in the short term and USD 12 trillion in the long term” (Amy Jadesimi: Forbes, May 23 2017). Afreximbank will use the Trade Fair as well as other interventions to assist the continent to realise its trade potential and achieve positive transformation for Africa.

 

 

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  • Sierra Leone signs The Afican Continental Free Trade Agreement

    Sierra Leone signs The Afican Continental Free Trade Agreement

    Sierra Leone has become the latest country to subscribe to the trade treaty seeking a unified African market. President Julius Maada Bio appended his signature to the African Continental Free Trade Area (AfCFTA) agreement in the Mauritanian capital, Nouakchott on Monday, State House in Freetown disclosed. President Bio, in office for just four months, was making his maiden appearance at the 31st Ordinary Session of the African Union General Assembly.

    The theme was: ‘Winning the Fight Against Corruption: A Sustainable Path to Africa’s Transformation.’

    President Bio is the head of the AU’s Committee of Ten on the Reform of the United Nations Security Council, a position he inherited from his predecessor Ernest Bai Koroma.

    Free movement

    He is also chairman of the AU Peace and Security Council, under which he chaired several sideline meetings. AfCFTA promises to break the cross-border trade barriers to ensure productive economic activities among member countries. It specifically aims to create a single continental market for goods and services, with free movement of business people and investments, and thus paving the way for accelerating the establishment of a continental customs union.

    The deal initially requires members to remove tariffs from 90 per cent of goods to allow free access to commodities and services across the continent.  AfCFTA's overall goal is to bring together the 54 African countries with a combined population of more than one billion people and a gross domestic product of more than $3.4 trillion, the AU says.

    If successfully implemented, analysts say, it could increase the economic diversification and intracontinental trade significantly. And a study attributed to the UN Economic Commission for Africa (UNECA) notably says that AfCFTA could lead to a 52 per cent increase above the baseline in intra-African trade flows by 2022.

    The agreement, which was first unveiled at an extraordinary summit of the AU Heads of State and Government in the Rwandan capital, Kigali, earlier in March, will create what has been described as potentially the largest free-trade area in terms of participating countries since the formation of the World Trade Organisation.

    New government

    Sierra Leone was in the middle of its elections at the time which ushered in a new government.

    Freetown State House said Monday in a statement that President Bio’s ascension to the agreement signifies his commitment to his “ambitious agenda” to ensure that it has access to the rest of the continent’s market and use trade and investment to revitalise its economy.

    The agreement had been signed by 44 member countries in Kigali.

    Kenya, Ghana and Rwanda were first to sign and ratify the agreement.

    It requires 22 ratifications by members for the treaty to come into effect.

    ( article By KEMO CHAM Nation Media Group )
  • AfCFTA  WORKSHOP SERIES- Addis Ababa Edition October 15th - 16th, 2018

    AfCFTA WORKSHOP SERIES- Addis Ababa Edition October 15th - 16th, 2018

    AfCFTA WORKSHOPS SERIES 2018

    First Edition - African Union HQ - Addis Ababa, Ethiopia!

    October 15 - 14, 2018, 

     

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    For exporters, importers and cross-border investors to learn how the African Continental Free Trade Agreement (AfCFTA) and other trade changes will impact your business this year and beyond.  

     

    We’re speaking with leaders who are on top of all the changes and innovations made to the most important trade agreement in Africa. We’ll be offering up a mix of information on tax reform, AfCFTA, trade/tariffs and more.

    This special AfCFTA workshop series, in collaboration with the experts at AU Commission, will be held in various cities over the coming months, with the kick-off in Addis Ababa October 15-16, 2018. For each discussion, members may tune-in from anywhere.

     

    WORKSHOP  PROGRAM

    1. Keynotes on the AfCFTA and its implementation

    2. The business framework and the outlook for AfCFTA and its implications on African countries [Presentation]

    3. Challenges and opportunities: a practical approach [Panel Discussion]

    4. The deepening of East African integration, and Kenya as key player in regional supply chains [Presentation]

    5. The most prominent concerns of the AfCFTA implementation, immigration and border security [Presentation]

    6. Importance of the AfCFTA to Ethiopia, Ghana, DRC, Mozambique, Morocco [Panel Discussion]

    7. AfCFTA and Getting Globalization Right: Poverty, Inequality, and Trade [Presentation]

    8. Rules of origin, arbitration, and the effect of exchange rates on the utilization of AfCFTA; [Presentation]

    9. Market Panel: Tanzania, Congo, Togo, Uganda [Panel Discussion]

    10. INDUSTRY TOUR

     

    Join PACCI for this important event in-person or virtually. 

    Goal: Learn from practitioners and experts who are up-to-date on all the information exporters and importers need to know about AfCFTA.

     

    Who Should Attend: Executives at exporters, importers and investors – CEOs, COOs, CFOs, EVPs, business, sales, marketing.

     – – – – – – – 

    In-person location: African Union Headquarter - Addis Ababa

     

    ABOUT THE AfCFTA

    AfCFTA is a new trade agreement between African countries.

    It makes it easier to export goods and services, benefitting people and businesses in Africa.

    On 21 March 2018 African heads of state and government officials met in Kigali, Rwanda, to sign the framework to establish this initiative of the African Union.

    National parliaments in African countries will then need to approve AfCFTA before it can take full effect.

    It will only enter into force fully and definitively, however, when (twenty-two) 22 AU Member
    States have ratified the Agreement.

    The deal will bring benefits for people and businesses across Africa. It will help to generate growth and jobs by:

    • Boosting exports;
    • Lowering the cost of the inputs businesses need to make their products;
    • Offering greater choice for consumers, and
    • Upholding African standards for products.

     

    WHAT WILL AfCFTA DO?

    AfCFTA offers new opportunities for African businesses of all sizes to export across the continent. Following ratification AfCFTA removes duties on 90% of products (tariff lines) that the African countries trade with other African countries.

    The agreement will especially benefit smaller companies who can least afford the cost of the red tape involved in exporting to other African countries. Small businesses will save time and money, for example, by avoiding duplicative product testing requirements, lengthy customs procedures and costly legal fees. Member States' authorities dealing with export promotion and chambers of commerce stand ready to help businesses to start exporting in Africa, boost existing trade, and attract investment.

    The agreement also offers better legal certainty in the service economy, greater mobility for company employees, and a framework to enable the mutual recognition of professional qualifications, from architects to crane operators.

     

    PROCEDURE AND NEXT STEPS

    AfCFTA will be fully implemented once 22 Member States ratify the deal according to their respective constitutional requirements. At the time AfCFTA will take full effect, a new Dispute Resolution System will be put in place.

     

    THE BENEFITS OF AfCFTA

    • Helping to generate growth and jobs
    • Creating a level playing field for African companies, big and small
    • Lowering prices and widening choice for Africa's consumers
    • Cutting customs duties for exporters and importers
    • Cutting other costs for African businesses
    • Making it easier for African firms to sell services across Africa
    • Helping Africa’s rural communities market distinctive food and drinks
    • Protecting Africa's innovators and artists
    • Recognizing each other's professional qualifications
    • Protecting people's rights at work, and the environment.

     

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The Pan African Chamber of Commerce and Industry was established in 2009 by 35 founding national business chambers to influence government policy and create a better operating environment for business.

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