Africa > Business / Trade
Business / Trade in Africa
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Tripartite Free Trade Area plods along slowly in Africa
BOTSWANA, 2017/06/24 Trade between African nations has long been outstripped by intra-regional trade in other parts of the world – for Africa as a whole, intra-regional trade is between 10% and 13% of total trade. This is far lower than in regions such as the EU, where about 60% of trade is between member states, and the Association of South-east Asian Nations, which has a rate of about 25%. Intra-regional trade in North America is put at about 40%. However, the ratification of the Tripartite Free Trade Sector(TFTA) – potentially later in 2017 – could help change that and push the development of additional intra-regional trade increase. A pan-regional free-trade zone, the TFTA stretches from Cairo to Cape Town and encompasses 26 African nations. Africa’s Tripartite Free Trade Area would reduce regional tariffs and create a pan-African single market, to aid development and cash in on a growing middle class in the continent. But with member countries often belonging to multiple economic areas, progress is both complex and slow, as Kit Gillet reports. -
Importers threaten to increase prices of goods if government implements tax to fund African Union
BOTSWANA, 2017/06/15 Importers have threatened to increase the prices of goods if the government implements the 0.2% import tax to fund the AU. Mr Samson Awingobit Asaki, Executive Secretary of the Importers and Exporters Association, told the Ghana News Agency that the implementation of the tax would increase the cost of operation for importers. Mr Asaki added that at the same time as it happens like that, they would have no other choice than to transfer the cost onto the prices of goods for the consumers. -
Benjamin Nentanyaho to Draw Israel's Attention Trade in West Africa
ISRAEL, 2017/06/06 Long before the civil war, Israel had cemented its feet on Liberian soil. The Executive Mansion, until the demise of Samuel Doe, stood as a testament to Israeli handiwork as the seat of the Liberian presidency for decades. "The visit of PM Netanyahu will draw the attention in the Israeli business community to the opportunities in this region, and will bring along additional Israeli companies to have trade and investments in the region, Actually, the initial one is by presently here." -
What Is Happening in Qatar?
EGYPT, 2017/06/06 What happened Monday? -
Prime Minister Netanyahu - Israel Coming Back to Africa
ISRAEL, 2017/06/06 The Prime Minister of Israel Benjamin Netanyahu has cautioned Heads of States and Government at the ECOWAS 51st Ordinary Summit session held at the Farmington Hotel in Harbel that there is so much that need to be done for the betterment of the people of the ECOWAS region. High on the schedule at the conference was political, economic and security concerns within the region. Having slammed the rising wave of terrorism in Africa and the world, the Israeli PM said the terrorists worship death by murdering indiscriminately but added a collaborative effort can defeat them. -
Germany's Gabriel makes surprise visit to Somalia
GERMANY, 2017/05/04 Germany's foreign minister has warned of a looming humanitarian catastrophe on a trip to Somalia. Gabriel's visit, the initial by a German foreign minister, comes ahead of a international security conference on Somalia. German Foreign Minister Sigmar Gabriel on Monday pledged to double aid to drought-hit Somalia, where additional than 6 million people are in need of humanitarian assistance. Gabriel arrived in the capital, Mogadishu, under heavy security on an unannounced visit, the initial ever by a German foreign minister to the Horn of Africa country. -
G20 consensus on free trade
EUROPE, 2017/04/27 The Mercury24 Apr 2017Xinhua -
Djibouti moves to galvanise trade development
DJIBOUTI, 2017/03/14 Construction has begun on a new free trade area in Djibouti, part of a broader government initiative to improve the country’s business environment and capitalise on its access to major regional consumer markets like Ethiopia. In the zone Ground was broken in January on the Djibouti International Free Trade Zone (DIFTZ), which will target a broad range of industries, inclunding ICT and construction equipment, electronics and light industry. Once operational, the 4800-ha, $3.5bn zone will be the major facility of its kind in Africa, located 23 km south of Djibouti city. -
Tunisia to join Comesa bloc.
TUNISIA, 2017/03/07 Tunisia will sign the Comesa Treaty in October enroute to joining the regional economic community as its 20th member national. Tunisian Prime Minister and chief of government, Yousef Achahed told a visiting Comesa delegation that his country was ready to conclude the negotiations early in readiness for the accession to the Comesa Treaty. The Comesa delegation, led by the secretary-general Sindiso Ngwenya, is in Tunisia this week to discuss with the government the steps towards joining the major regional bloc in Africa. -
Historically, oil, gas and petroleum products have dominated US imports from sub-Saharan Africa
UNITED STATES, 2017/03/07 To develop effective trade patterns, Africa must embrace structural and regulatory reforms and enhance financial integration to accelerate efforts that have led to increased exchanges with emerging nations in the rest of the world and between its own nations and regions. African nations must foster macro-economic stability and improve the investment environment to strengthen the role of pan-African banks in facilitating trade finance and boosting capital markets. Success in stimulating trade and increase depends on the policy and investment climate, depth of financial integration and commitment to reform.
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