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Photo: UNCTAD
Participants in the African Forum for National Trade Facilitation Committees 2018 in Addis Ababa, Ethiopia.
By UN News Center
According to the United Nations Conference on Trade and Development (UNCTAD), it is essential to improve transportation, logistics and foreign investment to enable the African continent to reduce barriers to trade.
"Africa is facing a time when market access gains that have been negotiated over the past two decades can be severely compromised if we do not meet the challenges of trade facilitation," he said. UNCTAD Secretary-General Mukhisa Kituyi said Tuesday at the start 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 global trade trends that are evolving rapidly to 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 to put in place trade committees, infrastructure and efficient infrastructure. investment.
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 Trade Facilitation Agreement 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]"The main benefits would accrue to developing countries," he said.
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 – Secretary-General of UNCTAD
He revealed that African estimates indicate that, if the agreement is fully implemented, the costs of trade could be reduced by an average of 16.5%, which could potentially bring "a tremendous economic momentum to the continent" .
This level of trade would open new opportunities for small businesses, especially women-owned businesses and young entrepreneurs, while enhancing transparency and reducing corruption.
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 in order to be able to produce and exploit the science and technology in this production, you need training and educational planning. ", did he declare.
Ingrid Cyimana, executive secretary of ECA, said Africans were doing this by taking steps to integrate their economies with the help of the new free trade agreement and by creating 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 checks.
Source: UN News Center
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