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- Volume 2019, Issue 3, 2019
International Trade Forum - Volume 2019, Issue 3, 2019
Volume 2019, Issue 3, 2019
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Onwards and upwards
Author: Arancha GonzálezThe phenomenon of ‘Africa rising’ has been cited so often in the past few decades that it risks becoming a bit of a cliché. But the reality shows there is justification for this continued optimism. In July 2019 leaders of African Union nations took a decisive step toward realizing their economic aspirations with the formal launch of the African Continental Free Trade Area (AfCFTA).
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Opening high-end markets for Bhutanese handicrafts
Author: WAQAS RAFIQUEThe handicraft textile industry is an integral part of life and culture in Bhutan, employing about half the country’s workforce. However, if the sector is going to succeed in high-end markets, the design and quality of handicraft textile products require further enhancements to be able to compete in Europe or Japan.
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A common African market for a shared African future
Author: FEKITAMOELOA ‘UTOIKAMANUFour years ago, negotiations were initiated for an African Continental Free Trade Agreement (AfCFTA), which entered its operational phase in July 2019. This represented a major development as the agreement not only set up the world’s largest free trade zone but also created a common African market for a shared African future.
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Continental agreement, country implementation: Making the AfCFTA a reality
Author: DAVID LUKEThe African Continental Free Trade Area (AfCFTA) Agreement was negotiated at the continental level. However, much of its implementation and gains will be at country level. Trading under the deal is set to begin 1 July 2020 with the first installment of tariff dismantlement. Now the real test is how quickly and effectively the agreement’s state parties (as the signatories that have ratified the Agreement are known) can implement it.
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The importance of services for the African Continental Free Trade Area: An academic perspective
Authors: ANESU GAMANYA, RICHARD ADU-GYAMFI and Robert KoopmanThe services sector currently constitutes a significant percentage of the world economy. Research shows that the top three sectors that received foreign direct investment (FDI) were software and IT services, business services and real estate.1 In sub-Saharan Africa, trade in services account for nearly half of gross domestic product (GDP) and 10% of trade.2 For countries such as Mauritius, the services sector is the largest contributor to GDP, contributing almost three-quarters of its economic output.
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Financing and promoting African investments
Author: KHALED SHERIFMuch is made about poverty in Africa, notwithstanding improvements in some countries in recent years in terms of GDP, incomes, exports, middle class growth, and a mix of health and social indicators. However, even with some progress, Africa is punching well below its weight when considering it is a continent of 1.2 billion people with vast resources. The success of many Africans abroad adds to the question of what has gone awry in Africa, and what can be done to right the course.
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Africa and infrastructure: Charting the way forward
Author: FARID FEZOUAWith Nigeria and Benin signing the African Continental Free Trade Agreement (AfCFTA) in July 2019, 54 of the 55 African Union member states have become part of the Africa Continental Free Trade Area, the largest in the world by number of countries after the World Trade Organization.
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Private sector has key role to play in realizing AfCFTA’s promise
Author: ANNE-ELVIRE ESMELThe long-negotiated African Continental Free-Trade Agreement (AfCFTA), signed by African states in March 2018 and coming into force in July 2019, marks a new trade dynamic on the continent. It is a rare example of consensus among African states of all sizes on the idea that Africa’s development is primarily based on the development of trade between African countries.
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Africa’s quest for a bigger role in global markets
Author: HIPPOLYTE FOFACKFor decades the 55 nations of Africa have lagged in the highly competitive race for world market share. Taken together their economies made up just 4.3% of global trade in 1970, a share that sank to 2.4% by 2018. The Netherlands, with a population about the size of Zambia’s, accounts today for about 3.5% of global trade, more than all the countries in Africa combined.
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Empowering Africa’s young people in the digital economy
Author: IBRAHIMA NOUR EDDINE DIAGNEThe African Continental Free Trade Area (AfCFTA) is an ambitious endeavour that should transform all of the economies on the continent. It will open new frontiers in opportunities and position Africa as a force to be reckoned with in the global economy.
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AfCFTA for more prosperity
Authors: AISSATOU DIALLO and RUBEN PHOOLCHUNDWhat does the African Continental Free Trade Area (AfCFTA) mean for Adwoa Serwaa selling her banana chips in Kumasi market in Ghana, for Malala Rakotodrainabe a vanilla wholesaler in the Analakely market in Antananarivo, Madagascar, and for Mohammed Khaled, a tech entrepreneur providing e-solutions to restaurants in Marrakesh, Morocco? How can the AfCFTA affect positively on their businesses in the coming years?
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The future’s bright, young and African
Author: MATT BROWNPeople under age 35 currently compose three-quarters of the population of Africa, making it the world’s most youthful continent. A critical aim of the African Continental Free Trade Agreement (AfCFTA) is to increase economic opportunity for young people.
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The heart of the matter
Author: ALBERT M. MUCHANGAAmbassador Albert M. Muchanga of Zambia, the African Union’s Commissioner for Trade and Industry, is a driving force behind the creation of the African Continental Free Trade Area (AfCFTA). His watchword is ‘inclusion’ – making sure the new trading arrangement between African nations boost the economic opportunities of poor people, young people and women. Commissioner Muchanga, who gave a keynote address at ITC’s SheTrades Global meeting in Addis Ababa in November, took the time to address the specific area of women’s economic empowerment in Africa and the dawn of the AfCFTA era.
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New Gambian tourism products show well at World Travel Market
Author: WAQAS RAFIQUEThe Gambia launched a river-based cultural and nature tour called the Ninki Nanka Trail at the World Travel Market, a major international travel industry event, in November 2019.
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The environment lies at the heart of GRASP
Author: Alexander KasterineManaging environmental risks is a major theme of the Growth for Rural Advancement and Sustainable Progress (GRASP) programme in Pakistan, worth $55 million and funded by the delegation of the European Union to Pakistan. Pakistan is ranked as one of the 10 nations most at risk from climate change. It faces multiple challenges from declining water availability and quality and extreme weather bringing floods and droughts.
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Colours of Bhutan gets noticed in international markets
Author: WAQAS RAFIQUESmall businesses in smaller countries such as Bhutan can benefit extensively from training and coaching aimed at building their capacity. These initiatives can help them adopt new and innovative ways of improving quality and skillfully presenting their products to attract the right buyers.
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Kenyan avocado exporter becomes part of the processing
Author: MUJINGA TAMBWEThe month of May 2019 was a defining time for Direne Ltd., which exports Kenyan avocados and mangos. As a small firm the company was lagging far behind in accessing international markets.
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World Export Development Forum creates contacts, partnerships through its matchmaking service
Author: MATT BROWNIn November 2019 the International Trade Centre (ITC) held its flagship annual event, the World Export Development Forum (WEDF), at African Union headquarters in Addis Ababa, Ethiopia. Neither the time nor the place was an accident.
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