Regional integration dynamics

As previously mentioned, the past few years have seen the Government embark on renewed efforts to increase the trade sector’s contribution to economic development. These efforts involved leveraging regional integration with the EU and the EAEU to serve as an impetus for structural transformation, with a view to addressing the twin objective of job-creation and increased specialisation in production activities with high value-added. However, achieving the expected benefits is undermined by weaknesses in trade facilitation conditions and SQAM combine with the hindered access to international trade routes to inflate transaction costs.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure