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Regional Trade

Video guest: Josephine Mwangi

November 2018
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EDITO
Monday, 19 November 2018

The Minister of Food and Agriculture, Dr Owusu Afriyie Akoto, is wooing Czech investors to the agricultural sector in Ghana. He has told Czech investors that Ghana has some of the best policies for foreign investors and urged them to take advantage of the opportunity to invest in the country’s agricultural sector. Dr Akoto was addressing a Czech Republic-Ghana agro-food business forum at the ongoing TECHAGRO 2018 exhibition in Brno in the Czech Republic.

Friday, 13 April 2018

Mr Tetteh Hormeku, Head of Programmes at the Third World Network, has advised governments in the African, Caribbean and Pacific (ACP) countries to use lessons from the Economic Partnership Agreement (EPA) for the post-Cotonou possible framework. He said the ACP countries would get “the same rotten deal we got from the EPA” if they failed to apply the experiences gained from the EPA. Mr Hormeku was speaking at the opening of a two-day Civil Society Consultative Seminar on the Post-Cotonou Agreement in Accra.

Commissioner for International Cooperation and Development, Neven Mimica is visiting South Africa, where he is meeting, the Minister of Finance Mr Nhlanhla Nene, and the Minister for Small Business Development, Ms Lindiwe Zulu. Commissioner for International Cooperation and Development, Neven Mimica is visiting South Africa, where he is meeting the Minister of Finance, Mr Nhlanhla Nene, and the Minister for Small Business Development, Ms Lindiwe Zulu.

Thursday, 12 April 2018

While the UK prepares to leave one of the world's largest trading blocs, Africa's most populous country, Nigeria, is declining to join one in the first place. Nigerian President Buhari is yet to sign the Economic Partnership Agreement (EPA), which aims to establish a free trade area between 16 West African countries (and Mauritania) and the European Union.

Wednesday, 11 April 2018

A total of more than 10 companies in Belgium have shown interest in coming to The Gambia for investment and trade, two Belgian firms have confirmed. “About 10 to 20 companies in Belgium have shown interest in coming to The Gambia for investment and trade,” said Thomas De Beule, chief executive officer of C&M, a corporate and management firm in Belgium. Delegates from these companies are due in The Gambia from 4 to 8 November, this year, to have direct discussions with the relevant government ministries and with the businesses they may want to enter into joint ventures and corporation with.

Wednesday, 06 September 2017

There is a long held debate about the volume of intra-African trade. Some say it is 10 per cent, others say it is underestimated because it could be more than that, and put it at 12 per cent. It is about 3 per cent of global trade. According to the African Trade Policy Centre (ATPC) of the United Nations Economic Commission for Africa (UNECA), global trade (in current prices) increased from $13 trillion in 2000 to an estimated $30 trillion in 2010, but Africa’s share in world trade has been in decline since 1980 and currently stands at about three per cent. According to the 2010 International Trade Statistics of the World Trade Organization compared to other regions, intra-African trade is low.

The European Union (EU) Ambassador to Nigeria and ECOWAS, Mr. Michel Arrion, said Nigeria can play a more active role in West Africa integration process. Arrion who compared Nigeria to Germany, one of Europe’s engines of integration, says Nigeria could play a similar role in the region. Speaking to Leadership correspondent in Kaduna, the ambassador who will complete his tenure in a few days said the EU enjoys a wide spectrum of relationship with Nigeria, in particular with the business, civil societies sectors, activists, the media and the creative community. Arrion further said the EU maintains an excellent relationship with the ECOWAS, having worked with the organ at the commission level.

Thursday, 20 July 2017

Aid for trade (AfT) is explicitly addressed in the Sustainable Development Goals (SDGs) under Goal 8: “Promotesustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.” For AfT to deliver on the ambitions of this goal in Africa, along with the objectives contained in the African Union’s (AU) long-term development vision and action plan, Agenda 2063, it is important to ensure that it is well-targeted and aligned with the continent’s strategic priority of structural transformation.

Thursday, 13 July 2017

In the midst of rising trade protectionism among advanced western economies, African countries must work to sustain ongoing efforts to achieve structural transformation of African economies and enhance their integration into the global economy. African and global trade experts said this at the just concluded meeting of the African-Export-Import Bank (Afreximbank) in Kigali. They highlighted that the increasing adoption of policies restricting trade among countries poses a threat to African economies. Dr Benedict Oramah, President and Chairman of Board of Directors, Afreximbank, said that the continent, however, has all the ingredients required to accelerate African trade.

Tuesday, 11 July 2017

A plan to create a single continental market for goods and services in Africa would be implemented by end of this year, African Union Trade and Industry Commissioner Albert M. Muchunga said. “…Negotiations are moving in the right direction and at the desired pace. We are on target to deliver Continental Free Trade Area (CFTA) by December this year,” Muchunga told reporters on the sidelines of the foreign ministers meeting ahead of Monday’s African Union leaders’ summit. According to Muchunga, currently intra-Africa trade stands at 14 percent of all transactions and there was a plan to double the figures by 2021. “The CFTA will bring 54 African countries with a combined population of more than one billion and a combined gross domestic product of more than $3 trillion,” an African Union publication said.