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New York, November 29 According to the United Nations Conference on Trade and Development (UNCTAD), improving transportation, logistics and foreign investment is essential for the continent to reduce barriers to trade.
"Africa is facing a time when market access gains negotiated over the past two decades can be seriously compromised if we do not meet the challenges of trade facilitation," said Tuesday. UNCTAD Secretary-General Mukhisa Kituyi at the beginning of a one-day forum at the United Nations Economic Commission for Africa (UNECA) in Addis Ababa, Ethiopia.
The first African Forum of National Trade Facilitation Committees aims to implement the February 2017 Trade Facilitation Agreement of the World Trade Organization (WTO) and to tackle rapidly evolving global trade trends to help reduce the costs of trade.
In the new impetus created by the Continental Continental Free Trade Agreement signed in March, Mr. Kituyi stressed that Africa's competitive advantage in terms of manpower must s accompany quality transport platforms, a more efficient cross-border goods and services circulation, better port procedures and predictable logistics management. .
"If Africa wants to trade with itself, we need to understand what major roads and railways need to be built to connect African producers and consumers," said Kituyi, stressing the need for trade committees, efficient infrastructures and investments.
The WTO calculates that current trade costs for developing countries equate to an impressive tariff of 219% on their international trade.
According to the Director General of the WTO, Roberto Azevêdo, the reduction of trade costs with the agreement on trade facilitation is "striking".
"That could add 2.7 percentage points a year to world trade growth and more than half a percentage point to world GDP [gross domestic product], "he said." The biggest benefits would accrue to developing countries. "
This level of trade would open up new opportunities for small businesses, especially women-owned businesses and young entrepreneurs, while increasing transparency and reducing corruption. He revealed that African estimates indicate that, if the agreement is fully implemented, the commercial costs could be reduced on average. 16.5%, which could generate "a tremendous economic momentum for the continent".
African solutions
Vice President of the Commission of the African Union, Thomas Kwesi Quartey, stressed that the continent needed a real vision to make the African common market a reality.
"To trade, you must first produce, and to be able to produce and exploit the science and technology in that production, you need education training and planning," he said.
Ingrid Cyimana, Executive Secretary of ECA, said Africans were doing this by taking steps to integrate their economies through the new free trade agreement and by setting up trade facilitation committees.
"Our projections show that the value of intra-African trade will be 15 to 25 percent higher in 2040, compared to a situation without AfCTA," she said.
The forum supports the WTO agreement which, in addition to boosting trade, also aims to improve revenue collection and security compliance controls.
UNCTAD
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