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A full toolkit for African policymakers to harness the potential of the AfCFTA

Friday, 19 July 2024 06:51

So far, all the studies conducted on the African Continental Free Trade (AfCFTA) concur on the fact that the implementation of this agreement will deliver significant economic advantages to Africa, some forecasts suggesting that the African economy will grow of nearly 10% within 2043. However, much will depend on the level of preparedness of the AfCFTA State Parties to put in place appropriate AfCFTA implementation measures that support the development of economic and industrial sectors that are key for their economies, and on their ability to mitigate potential risks that this implementation involves. To this end, a complete toolkit has been developed within the Accelerated Industrial Development for Africa (AIDA) initiative to support African States in these efforts.

Sixth edition of the Africa’s Development Dynamics report raises importance of promoting skills development for the growth of Africa

Monday, 08 July 2024 06:52

The OECD has publishes the 2024 edition of Africa’s Development Dynamics, the annual flagship report developed in partnership with the African Union Commission that analyses economic conditions and prospects for the development of Africa. The previous edition of the report provided an overview of the investment climate in Africa and its challenges, with recommendations on how African regions could accelerate sustainable investment in strategic sectors to accelerate economic development. The 2024 edition is instead focused on education and skill development, which was selected by the African Union (AU) as theme of the year 2024 : “Educate and Skill Africa for the 21st Century”.

WCO publishes in-depth study on the cumulation of origin

Wednesday, 03 July 2024 18:37

The concept of “accumulation/cumulation” or “cumulative rules of origin” allows countries which participate to a free trade agreement (FTA) or a trade arrangement (e.g., a unilateral trade concession scheme like AGOA or the Generalized System of Preference), to share production and jointly comply with the relevant rules of origin provisions. In other words, it allows products of one country to be further processed or added to products in another party of that preferential trade agreement or arrangement, as if they originate in the latter party. In this way, the production may be aggregated with other countries’ inputs, thus offering additional opportunities to source input materials. This essentially widens the definition of originating products and provides flexibility to develop economic relations between countries within a preferential trade scheme. Accordingly, through the concept of accumulation/cumulation in a free trade agreement, the use of input materials and manufacturing processes within that FTA is encouraged. This promotes regional economic integration amongst members of a free trade area.

Fourth WTO review of the trade policies and practices of Mozambique out

Tuesday, 02 July 2024 05:41

The WTO Secretariat has made available on the WTO website the fourth review of the trade policies and practices of Mozambique. All WTO members have their trade policy reviewed at regular intervals by the WTO Secretariat. The purpose of such reviews is to verify the adherence to the rules, disciplines and commitments made under the Multilateral Trade Agreements and, where applicable, the Plurilateral Trade Agreements of the WTO. As of 2019, the frequency of the review process is 3, 5 and 7 years, depending on a country’s share of world trade in goods and services (before 2019, review cycles were shorter, respectively of 2, 4 or 6 years depending on a country’s share of world trade). Mozambique is categorized by the United Nations as a least developed country (LDC). Despite its significant potential for steady economic expansion, underpinned by its good transport links both to regional and international markets, and its vast and diverse natural resources, the country is both highly exposed and vulnerable to weather-related hazards that tend to cause significant economic damage.

From ODI an impact assessment of the AfCFTA Protocol on Digital Trade

Monday, 01 July 2024 15:54

A new paper from the Overseas Development Institute (ODI) makes a comprehensive assessment of the impact of the Protocol on Digital Trade of the African Continental Free Trade Area (AfCFTA). This Protocol represents a significant advancement in Africa’s journey towards economic integration and digital transformation. Its objective is to regulate and facilitate digital transactions across African nations, addressing critical elements such as data localisation, transnational data flow, cybersecurity, data privacy, electronic financial operations and digital payment systems. AfCFTA State parties will need to align their national policies and regulations to the provisions in such a Protocol, which is set to reshape the economic landscape of Africa by fostering a unified digital market.

News

A full toolkit for African policymakers to harness the potential of the AfCFTA

Sixth edition of the Africa’s Development Dynamics report raises importance of promoting skills development for the growth of Africa

WCO publishes in-depth study on the cumulation of origin

Fourth WTO review of the trade policies and practices of Mozambique out

From ODI an impact assessment of the AfCFTA Protocol on Digital Trade

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