Giovedì, Aprile 18, 2024
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Desiderio Consultants Ltd. è una think tank ed una rete di consulenti internazionali per lo sviluppo indipendenti costituita per promuovere ed influenzare politiche doganali e commerciali nei Paesi Africani, al fine di raggiungere riforme di facilitazione del commercio che favoriscano la crescita degli scambi commerciali a livello internazionale e regionale
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Notizie

AfCFTA, main benefits in the industrial and agricultural sectors, but do not neglect services, UNECA notes

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A new report published by the United Nations Economic Commission for Africa (UNECA) argues that the African Continental Free Trade Area (AfCFTA) will be particularly beneficial for trade in agrifood, services and industry sectors, that are expected to increase by 49%, 38% and 36% by 2045, respectively. Hence, it concludes that these sectors will be those that will gain more from the implementation of the agreement than others. On the other hand, the traditional extractive and energy sectors (that historically represent the primary sources of exports of most of African countries), will increase only of 19%. This is not surprising, considering that such goods are mainly traded outside Africa, while the AfCFTA is expected to lead to an increase of intra-Africa trade.

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Which progress in visa openness in Africa to ease cross border travel, trade, investment and regional integration?

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The African Development Bank (AfDB) has published on 12 December 2023 the Africa Visa Openness Index 2023, the report that analyses the visa openness policies that African countries adopt towards other African States. The seventh edition of the report reveals significant progress, showing an increasing number of African countries that have opened their doors, at least apparently, to visitors from other African countries. The publication comes on the day of celebration of the birth of the Kenya Republic, during which the Kenyan President announced the elimination of visa from all countries (both African and non-African), starting from 1 January 2024. A measure this, that is expected to increase tourism in Kenya.

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UN Global Report for Digital and Sustainable Trade Facilitation shows African countries are doing well on trade facilitation

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The Global Report for Digital and Sustainable Trade Facilitation is an annual report published by the United Nations that analyses the progress in facilitating trade and on digital trade in 163 countries from different regions of the world. The report recognizes the critical role that trade facilitation plays in supporting sustainable development, by enabling more efficient and transparent trade procedures, enhancing the resilience of global supply chains and decreasing overall trade costs. The 2023 edition of the report evaluates 60 trade facilitation measures (from the 58 of the 2022 edition), classified into 4 groups: 1) general trade facilitation; 2) digital trade facilitation; 3) sustainable trade facilitation and a residual one (4), called ‘other trade facilitation’. Each of such groups is further categorized into 11 subgroups covering both binding and non-binding measures embedded in the WTO Trade Facilitation Agreement (TFA), as well as measures that go beyond the scope of the WTO TFA. The subgroups, in turn, are categorized in individual measures (ex. publication of existing import-export regulations on the Internet) that in the case of binding measures included in the WTO TFA, show the relevant article of the agreement that regulates the measure (ex., in the case of publication of existing import-export regulations on the Internet, the relevant TFA article is art. 1.2).

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3rd PAFTRAC Africa CEO Trade Survey Report reveals African companies are not receiving enough support to seize AfCFTA's opportunities

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On 21 November 2023 there was the virtual launch of the third PAFTRAC Africa CEO Trade Survey Report. Despite the report is not feely available online (it can be however obtained by filling this form), we provide here a summary of the main findings of such report drawn from its official presentation. PAFTRAC is the acronym of Pan-African Private Sector Trade and Investment Committee, an organization that gathers a series of stakeholders from both the public and private sector to deliberate on policy issues, like trade across the continent, so to help to guide the formation of these policies at continental level. PAFTRAC elaborates annual reports where it analyses the perceptions of African Chief Executive Officers (CEOs) about the future economic outlook of Africa. All the editions of the report also make an analysis of the expectations of African businesses regarding the African Continental Free Trade Area (AfCFTA).

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PAPSS for dummies

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The Pan-African Payment and Settlement System (PAPSS) is a centralized payment, clearing and settlement system for intra-African trade payments jointly developed by the AfCFTA Secretariat and Afreximbank which has been rolled out end of September 2021. It aims at streamlining and securing money flows across African borders by simplifying transactions made by using one of the 42 local currencies that are currently adopted in the continent. The system allows traders to complete these transactions in almost real-time (in less than two minutes) for a low fee. A recently published article explains in simple terms why this system has been developed and what are the advantages for African traders, along with its challenges. We will try to further simplify its content to explain the main reasons that are at the basis of the functioning of the PAPSS.

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