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  •  Indonesia will appeal a World Trade Organization WTO ruling on a nickel ore trade dispute in which the European Union sued Indonesia over its ban on nickel ore exports President Joko Widodo said on Wednesday Indonesia issued a ban on nickel ore exports in 2020 for a downstream development program that brings more jobs and well being to its people Regarding the export ban the European Union filed a lawsuit and the WTO dispute resolution body ruled that Indonesia had violated the regulations It doesn t matter that we lost I have forwarded it to the minister for an appeal Widodo told an investment meeting in the national capital Jakarta To boost Indonesia s economic growth the Indonesian government has developed three economic strategies the green economy the digitization of micro small and medium sized enterprises MSMEs and the development of downstream industries As Investment Minister Bahlil Lahadalia stated Indonesia should focus on processing commodities into ready to use products starting from nickel According to the Ministry of Investment Indonesia has 21 million tons of nickel the largest reserves in the world Raw nickel downstream in products like electric car batteries will add value to the raw material and spur economic growth Widodo said that Indonesia will expand downstream policy not only for nickel but also for other commodities such as bauxite and coffee and his government is looking for investors to support those programs The country only earned about 1 1bn from nickel sector sales years ago but the figure has multiplied to 20 8bn in 2021 supported by downstream policy leading to a trade balance surplus for months Xinhua
    Indonesia to appeal WTO decision on nickel ore trade dispute
     Indonesia will appeal a World Trade Organization WTO ruling on a nickel ore trade dispute in which the European Union sued Indonesia over its ban on nickel ore exports President Joko Widodo said on Wednesday Indonesia issued a ban on nickel ore exports in 2020 for a downstream development program that brings more jobs and well being to its people Regarding the export ban the European Union filed a lawsuit and the WTO dispute resolution body ruled that Indonesia had violated the regulations It doesn t matter that we lost I have forwarded it to the minister for an appeal Widodo told an investment meeting in the national capital Jakarta To boost Indonesia s economic growth the Indonesian government has developed three economic strategies the green economy the digitization of micro small and medium sized enterprises MSMEs and the development of downstream industries As Investment Minister Bahlil Lahadalia stated Indonesia should focus on processing commodities into ready to use products starting from nickel According to the Ministry of Investment Indonesia has 21 million tons of nickel the largest reserves in the world Raw nickel downstream in products like electric car batteries will add value to the raw material and spur economic growth Widodo said that Indonesia will expand downstream policy not only for nickel but also for other commodities such as bauxite and coffee and his government is looking for investors to support those programs The country only earned about 1 1bn from nickel sector sales years ago but the figure has multiplied to 20 8bn in 2021 supported by downstream policy leading to a trade balance surplus for months Xinhua
    Indonesia to appeal WTO decision on nickel ore trade dispute
    Foreign7 days ago

    Indonesia to appeal WTO decision on nickel ore trade dispute

    Indonesia will appeal a World Trade Organization (WTO) ruling on a nickel ore trade dispute, in which the European Union sued Indonesia over its ban on nickel ore exports, President Joko Widodo said on Wednesday.

    Indonesia issued a ban on nickel ore exports in 2020 for a downstream development program that brings more jobs and well-being to its people.

    Regarding the export ban, the European Union filed a lawsuit and the WTO dispute resolution body ruled that Indonesia had violated the regulations.

    "It doesn't matter that we lost, I have forwarded it to the minister for an appeal," Widodo told an investment meeting in the national capital Jakarta.

    To boost Indonesia's economic growth, the Indonesian government has developed three economic strategies: the green economy, the digitization of micro, small and medium-sized enterprises (MSMEs), and the development of downstream industries.

    As Investment Minister Bahlil Lahadalia stated, Indonesia should focus on processing commodities into ready-to-use products, starting from nickel.

    According to the Ministry of Investment, Indonesia has 21 million tons of nickel, the largest reserves in the world. Raw nickel downstream in products like electric car batteries will add value to the raw material and spur economic growth.

    Widodo said that Indonesia will expand downstream policy, not only for nickel but also for other commodities such as bauxite and coffee, and his government is looking for investors to support those programs.

    The country only earned about $1.1bn from nickel sector sales years ago, but the figure has multiplied to $20.8bn in 2021, supported by downstream policy, leading to a trade balance surplus for months . ■



    (Xinhua)

  •   The ECA Office for North Africa will hold on 14 18 November 2022 its second capacity development workshop on the Libya AfCFTA national implementation strategy The African Continental Free Trade Area AfCFTA signed in Kigali Rwanda in 2018 is the world s largest free trade zone since the creation of the WTO with the aim of creating a 1 2 billion consumer single market The AfCFTA can provide Libya with an opportunity to make the most of its hydrocarbon reserves while diversifying its economy and trade partners This workshop will offer participants the opportunity to improve their capacity of enhancing Libyan exports under the AfCFTA by studying best practices in export promotion policymaking It will also be an opportunity to present African international institutions and programs that can be used to enhance intra regional trade between African countries with the final goal of supporting Libya s efforts to design a national strategy for the implementation of the AfCFTA
    Libyan policymakers to enhance their African Continental Free Trade Area (AfCFTA) export promotion policy development capacity at United Nations Economic Commission for Africa (ECA) Workshop
      The ECA Office for North Africa will hold on 14 18 November 2022 its second capacity development workshop on the Libya AfCFTA national implementation strategy The African Continental Free Trade Area AfCFTA signed in Kigali Rwanda in 2018 is the world s largest free trade zone since the creation of the WTO with the aim of creating a 1 2 billion consumer single market The AfCFTA can provide Libya with an opportunity to make the most of its hydrocarbon reserves while diversifying its economy and trade partners This workshop will offer participants the opportunity to improve their capacity of enhancing Libyan exports under the AfCFTA by studying best practices in export promotion policymaking It will also be an opportunity to present African international institutions and programs that can be used to enhance intra regional trade between African countries with the final goal of supporting Libya s efforts to design a national strategy for the implementation of the AfCFTA
    Libyan policymakers to enhance their African Continental Free Trade Area (AfCFTA) export promotion policy development capacity at United Nations Economic Commission for Africa (ECA) Workshop
    Africa3 weeks ago

    Libyan policymakers to enhance their African Continental Free Trade Area (AfCFTA) export promotion policy development capacity at United Nations Economic Commission for Africa (ECA) Workshop

    The ECA Office for North Africa will hold on 14-18 November 2022 its second capacity development workshop on the Libya AfCFTA national implementation strategy.

    The African Continental Free Trade Area (AfCFTA), signed in Kigali, Rwanda in 2018 is the world’s largest free trade zone since the creation of the WTO, with the aim of creating a 1.2 billion consumer single market.

    The AfCFTA can provide Libya with an opportunity to make the most of its hydrocarbon reserves while diversifying its economy and trade partners.

    This workshop will offer participants the opportunity to improve their capacity of enhancing Libyan exports under the AfCFTA by studying best practices in export promotion policymaking.

    It will also be an opportunity to present African, international institutions and programs that can be used to enhance intra-regional trade between African countries with the final goal of supporting Libya’s efforts to design a national strategy for the implementation of the AfCFTA.

  •  The World Trade Organisation WTO says world trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023 as multiple shocks weigh on the global economy WTO in its latest forecast stated that trade growth was expected to lose momentum in the second half of the year and remain subdued in 2023 as the global economy sustained multiple shocks such as ripple effects from the war in Ukraine The UN partner agency in a statement cautioned against imposing trade restrictions which would ultimately result in slower growth and lower living standards According to the forecast global merchandise trade volume is estimated to grow 3 5 per cent in 2022 or slightly better than the 3 0 per cent anticipated in April However volume will slow to one per cent in 2023 a sharp decline from the 3 4 per cent previously estimated Demand for imports is expected to weaken as growth slows in major economies for different reasons In Europe high energy prices resulting from the Russian invasion of Ukraine will squeeze household spending and raise manufacturing costs the WTO stated In the United States monetary policy tightening will affect spending in areas where interest rates count such as housing motor vehicles and fixed investments China also continues to struggle with COVID 19 outbreaks and production disruptions coupled with weak external demand Meanwhile developing countries could face food insecurity and debt distress as import bills for fuels food and fertilisers rise another impact of the war in Ukraine Overall energy prices jumped 78 per cent year on year in August according to the forecast Food prices increased 11 per cent grain prices were up 15 per cent and fertiliser 60 per cent Many currencies have also fallen against the dollar in recent months another factor that is making food and fuel more expensive Dr Ngozi Okonjo Iweala the WTO Director General said policymakers faced unenviable choices as they tried to find an optimal balance in tackling inflation maintaining full employment and advancing important goals such as transitioning to clean energy The WTO chief underscored how trade was a vital tool both for enhancing the global supply of goods and services as well as for lowering the cost to achieve net zero carbon emissions While trade restrictions may be a tempting response to the supply vulnerabilities that have been exposed by the shocks of the past two years a retrenchment of global supply chains would only deepen inflationary pressures leading to slower economic growth and reduced living standards over time What we need is a deeper more diversified and less concentrated base for producing goods and services In addition to boosting economic growth this would contribute to supply resilience and long term price stability by mitigating exposure to extreme weather events and other localised disruptions she said WTO said the Middle East would have the strongest export growth of any region this year 14 6 per cent followed by Africa North America Asia Europe and South America The region also had the fastest trade volume growth on the import side at 11 1 per cent While the Middle East and Africa should see small declines in exports in 2023 imports will remain strong The new forecast released on Wednesday revises estimates published in April or just weeks after the start of the war in Ukraine At the time WTO economists had to rely on simulations for their projections in the absence of hard data about the conflict s impact NewsSourceCredit NAN
    WTO anticipates sharp slowdown in world trade growth in 2023
     The World Trade Organisation WTO says world trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023 as multiple shocks weigh on the global economy WTO in its latest forecast stated that trade growth was expected to lose momentum in the second half of the year and remain subdued in 2023 as the global economy sustained multiple shocks such as ripple effects from the war in Ukraine The UN partner agency in a statement cautioned against imposing trade restrictions which would ultimately result in slower growth and lower living standards According to the forecast global merchandise trade volume is estimated to grow 3 5 per cent in 2022 or slightly better than the 3 0 per cent anticipated in April However volume will slow to one per cent in 2023 a sharp decline from the 3 4 per cent previously estimated Demand for imports is expected to weaken as growth slows in major economies for different reasons In Europe high energy prices resulting from the Russian invasion of Ukraine will squeeze household spending and raise manufacturing costs the WTO stated In the United States monetary policy tightening will affect spending in areas where interest rates count such as housing motor vehicles and fixed investments China also continues to struggle with COVID 19 outbreaks and production disruptions coupled with weak external demand Meanwhile developing countries could face food insecurity and debt distress as import bills for fuels food and fertilisers rise another impact of the war in Ukraine Overall energy prices jumped 78 per cent year on year in August according to the forecast Food prices increased 11 per cent grain prices were up 15 per cent and fertiliser 60 per cent Many currencies have also fallen against the dollar in recent months another factor that is making food and fuel more expensive Dr Ngozi Okonjo Iweala the WTO Director General said policymakers faced unenviable choices as they tried to find an optimal balance in tackling inflation maintaining full employment and advancing important goals such as transitioning to clean energy The WTO chief underscored how trade was a vital tool both for enhancing the global supply of goods and services as well as for lowering the cost to achieve net zero carbon emissions While trade restrictions may be a tempting response to the supply vulnerabilities that have been exposed by the shocks of the past two years a retrenchment of global supply chains would only deepen inflationary pressures leading to slower economic growth and reduced living standards over time What we need is a deeper more diversified and less concentrated base for producing goods and services In addition to boosting economic growth this would contribute to supply resilience and long term price stability by mitigating exposure to extreme weather events and other localised disruptions she said WTO said the Middle East would have the strongest export growth of any region this year 14 6 per cent followed by Africa North America Asia Europe and South America The region also had the fastest trade volume growth on the import side at 11 1 per cent While the Middle East and Africa should see small declines in exports in 2023 imports will remain strong The new forecast released on Wednesday revises estimates published in April or just weeks after the start of the war in Ukraine At the time WTO economists had to rely on simulations for their projections in the absence of hard data about the conflict s impact NewsSourceCredit NAN
    WTO anticipates sharp slowdown in world trade growth in 2023
    Foreign2 months ago

    WTO anticipates sharp slowdown in world trade growth in 2023

    The World Trade Organisation (WTO) says world trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023 as multiple shocks weigh on the global economy.

    WTO, in its latest forecast, stated that trade growth was expected to lose momentum in the second half of the year and remain subdued in 2023, as the global economy sustained multiple shocks, such as ripple effects from the war in Ukraine.

    The UN partner agency, in a statement, cautioned against imposing trade restrictions which would ultimately result in slower growth and lower living standards.

    According to the forecast, global merchandise trade volume is estimated to grow 3.5 per cent in 2022, or slightly better than the 3.0 per cent anticipated in April.

    However, volume will slow to one per cent in 2023, a sharp decline from the 3.4 per cent previously estimated.

    “Demand for imports is expected to weaken as growth slows in major economies for different reasons.

    “In Europe, high energy prices resulting from the Russian invasion of Ukraine will squeeze household spending and raise manufacturing costs,’’ the WTO stated.

    In the United States, monetary policy tightening will affect spending in areas where interest rates count, such as housing, motor vehicles and fixed investments.

    China also continues to struggle with COVID-19 outbreaks and production disruptions coupled with weak external demand.

    Meanwhile, developing countries could face food insecurity and debt distress as import bills for fuels, food and fertilisers rise: another impact of the war in Ukraine.

    Overall, energy prices jumped 78 per cent year-on-year in August, according to the forecast.

    Food prices increased 11 per cent, grain prices were up 15 per cent and fertiliser 60 per cent.

    Many currencies have also fallen against the dollar in recent months, another factor that is making food and fuel more expensive.

    Dr Ngozi Okonjo-Iweala, the WTO Director-General, said policymakers faced “unenviable choices” as they tried to find an optimal balance in tackling inflation, maintaining full employment, and advancing important goals such as transitioning to clean energy.

    The WTO chief underscored how trade was a vital tool – both for enhancing the global supply of goods and services, as well as for lowering the cost to achieve net-zero carbon emissions.

    “While trade restrictions may be a tempting response to the supply vulnerabilities that have been exposed by the shocks of the past two years, a retrenchment of global supply chains would only deepen inflationary pressures, leading to slower economic growth and reduced living standards over time.

    “What we need is a deeper, more diversified and less concentrated base for producing goods and services.

    “In addition to boosting economic growth, this would contribute to supply resilience and long-term price stability by mitigating exposure to extreme weather events and other localised disruptions,” she said.

    WTO said the Middle East would have the strongest export growth of any region this year, 14.6 per cent, followed by Africa, North America, Asia, Europe and South America.

    The region also had the fastest trade volume growth on the import side at 11.1 per cent.

    While the Middle East and Africa should see small declines in exports in 2023, imports will remain strong.

    The new forecast, released on Wednesday, revises estimates published in April, or just weeks after the start of the war in Ukraine.

    At the time, WTO economists had to rely on simulations for their projections, in the absence of hard data about the conflict’s impact.


    NewsSourceCredit: NAN

  •  The World Trade Organisation WTO on Wednesday forecast a slowdown of global trade growth in 2023 WTO s Director General Ngozi Okonjo Iweala told a news conference that a sharply higher energy food prices and rising interest rates had curbed import demand and warned of a possible contraction if the war in Ukraine worsens The Geneva based trade body said that merchandise trade would increase by 3 5 per cent this year up from its April estimate of 3 0 per cent However for 2023 it sees trade growth of just 1 0 per cent compared with a previous forecast of 3 4 per cent Okonjo Iweala said that there was high uncertainty over its forecasts It provided a band of trade growth expansion of 2 0 per cent to 4 9 per cent for this year and of 2 8 per cent to 4 6 per cent for 2023 She added that risks for 2023 forecast were more on the downside saying the picture for 2023 has darkened considerably If the war in Ukraine worsens rather than gets better that s going to have a huge impact she said Weather events hitting food producing regions or damaging energy export infrastructure could further hit trade growth along with weakness in China where COVID 19 outbreaks have disrupted production Iweala said that the world needed a more diversified and less concentrated base for production of goods and services which should boost growth increase resilience and promote long term price stability by mitigating exposure to extreme weather events and local disruptions She also warned against the tempting response to resort to trade restrictions saying curbs imposed by various countries on food and fertiliser exports had dropped from 57 to 42 in the past month but then rose back to 53 due to new measures These would only deepen inflationary pressures and reduce living standards and would likely make us more rather than less vulnerable to the crisis we are grappling with she told a news conference The WTO s forecast does not cover services but the WTO said tourist arrivals were likely to fall after tripling in the first seven months of 2022 Lower shipping rates it said might have been greeted before as a sign of supply chains improvements but was probably more the result of cooling demand NewsSourceCredit NAN
    WTO warns ‘darkened’ trade outlook can deteriorate further
     The World Trade Organisation WTO on Wednesday forecast a slowdown of global trade growth in 2023 WTO s Director General Ngozi Okonjo Iweala told a news conference that a sharply higher energy food prices and rising interest rates had curbed import demand and warned of a possible contraction if the war in Ukraine worsens The Geneva based trade body said that merchandise trade would increase by 3 5 per cent this year up from its April estimate of 3 0 per cent However for 2023 it sees trade growth of just 1 0 per cent compared with a previous forecast of 3 4 per cent Okonjo Iweala said that there was high uncertainty over its forecasts It provided a band of trade growth expansion of 2 0 per cent to 4 9 per cent for this year and of 2 8 per cent to 4 6 per cent for 2023 She added that risks for 2023 forecast were more on the downside saying the picture for 2023 has darkened considerably If the war in Ukraine worsens rather than gets better that s going to have a huge impact she said Weather events hitting food producing regions or damaging energy export infrastructure could further hit trade growth along with weakness in China where COVID 19 outbreaks have disrupted production Iweala said that the world needed a more diversified and less concentrated base for production of goods and services which should boost growth increase resilience and promote long term price stability by mitigating exposure to extreme weather events and local disruptions She also warned against the tempting response to resort to trade restrictions saying curbs imposed by various countries on food and fertiliser exports had dropped from 57 to 42 in the past month but then rose back to 53 due to new measures These would only deepen inflationary pressures and reduce living standards and would likely make us more rather than less vulnerable to the crisis we are grappling with she told a news conference The WTO s forecast does not cover services but the WTO said tourist arrivals were likely to fall after tripling in the first seven months of 2022 Lower shipping rates it said might have been greeted before as a sign of supply chains improvements but was probably more the result of cooling demand NewsSourceCredit NAN
    WTO warns ‘darkened’ trade outlook can deteriorate further
    Foreign2 months ago

    WTO warns ‘darkened’ trade outlook can deteriorate further

    The World Trade Organisation (WTO) on Wednesday forecast a slowdown of global trade growth in 2023. WTO’ s Director-General Ngozi Okonjo-Iweala told a news conference that a sharply higher energy, food prices and rising interest rates  had curbed  import demand, and warned of a possible contraction if the war in Ukraine worsens.

    The Geneva-based trade body said that merchandise trade would increase by 3.5 per cent this year, up from its April estimate of 3.0 per cent.

    However, for 2023, it sees trade growth of just 1.0 per cent, compared with a previous forecast of 3.4 per cent.

    Okonjo-Iweala said that there was high uncertainty over its forecasts.

    It provided a band of trade growth expansion of 2.0 per cent to 4.9 per cent for this year and of 2.8 per cent to 4.6 per cent for 2023. She added that risks for 2023 forecast were more on the downside saying` `the picture for 2023 has darkened considerably.

    “If the war in Ukraine worsens, rather than gets better, that’s going to have a huge impact,” she said.

    Weather events hitting food-producing regions or damaging energy export infrastructure could further hit trade growth, along with weakness in China, where COVID-19 outbreaks have disrupted production.

    Iweala said that the world needed a more diversified and less concentrated base for production of goods and services, which should boost growth, increase resilience and promote long-term price stability by mitigating exposure to extreme weather events and local disruptions.

    She also warned against the “tempting response” to resort to trade restrictions, saying curbs imposed by various countries on food and fertiliser exports had dropped from 57 to 42 in the past month, but then rose back to 53 due to new measures.

    “These would only deepen inflationary pressures and reduce living standards and would likely make us more rather than less vulnerable to the crisis we are grappling with,” she told a news conference.

    The WTO’s forecast does not cover services, but the WTO said tourist arrivals were likely to fall after tripling in the first seven months of 2022. Lower shipping rates, it said, might have been greeted before as a sign of supply chains improvements, but was probably more the result of cooling demand.


    NewsSourceCredit: NAN

  •   Africa Trade Desk www AfricaTradeDesk com is the newest member to join the Canada Africa Chamber of Business Africa Trade Desk is a one stop boutique consulting firm for Canadian and international companies investors and entrepreneurs who want to do business in Africa and vice versa They believe that diversified trading is the key to a sustained economic recovery after the pandemic In February 2023 Africa Trade Desk will host its inaugural East Africa Trade Mission in Nairobi Kenya East Africa has been the fastest growing region on the continent in recent years and the only one in Africa https bit ly 3dZzJSI to have avoided a recession during the pandemic Before the pandemic projected GDP growth exceeded 5 https bit ly 3EkfxFF with several countries consistently ranking as the fastest growing economies Kenya s GDP https bit ly 3fIQSk1 represents more than 50 of the region s total and had a growth rate of 7 5 in 2021 This growth has been driven by an emerging middle class alongside with increased demand for high value goods and services In the first quarter of 2022 the growth rate was 6 8 https bit ly 3M5ehYQ and the region is forecast to see upward growth rates in the future The importance of the African Continental Free Trade Area AfCFTA cannot be overstated either It is the world s largest new free trade area since the establishment of the WTO encompassing 1 3 billion people with a combined GDP valued at 3 4 trillion https bit ly 3C5JPJt Kenya is one of the largest economies in the AfCFTA and your gateway to newer emerging economies Now is the time to grow your business and Kenya is your entry point to the region Click here https bit ly 3UTJSAK to reserve your spot today Can t go to Kenya in February The Africa Trade Desk will be in the Canadian Pavilion at Mining Indaba in South Africa They also have a number of upcoming virtual events and new trade missions and exhibitions are in the works
    The Canada-Africa Chamber of Business welcomes the Africa Trade Desk as a full member
      Africa Trade Desk www AfricaTradeDesk com is the newest member to join the Canada Africa Chamber of Business Africa Trade Desk is a one stop boutique consulting firm for Canadian and international companies investors and entrepreneurs who want to do business in Africa and vice versa They believe that diversified trading is the key to a sustained economic recovery after the pandemic In February 2023 Africa Trade Desk will host its inaugural East Africa Trade Mission in Nairobi Kenya East Africa has been the fastest growing region on the continent in recent years and the only one in Africa https bit ly 3dZzJSI to have avoided a recession during the pandemic Before the pandemic projected GDP growth exceeded 5 https bit ly 3EkfxFF with several countries consistently ranking as the fastest growing economies Kenya s GDP https bit ly 3fIQSk1 represents more than 50 of the region s total and had a growth rate of 7 5 in 2021 This growth has been driven by an emerging middle class alongside with increased demand for high value goods and services In the first quarter of 2022 the growth rate was 6 8 https bit ly 3M5ehYQ and the region is forecast to see upward growth rates in the future The importance of the African Continental Free Trade Area AfCFTA cannot be overstated either It is the world s largest new free trade area since the establishment of the WTO encompassing 1 3 billion people with a combined GDP valued at 3 4 trillion https bit ly 3C5JPJt Kenya is one of the largest economies in the AfCFTA and your gateway to newer emerging economies Now is the time to grow your business and Kenya is your entry point to the region Click here https bit ly 3UTJSAK to reserve your spot today Can t go to Kenya in February The Africa Trade Desk will be in the Canadian Pavilion at Mining Indaba in South Africa They also have a number of upcoming virtual events and new trade missions and exhibitions are in the works
    The Canada-Africa Chamber of Business welcomes the Africa Trade Desk as a full member
    Africa2 months ago

    The Canada-Africa Chamber of Business welcomes the Africa Trade Desk as a full member

    Africa Trade Desk (www.AfricaTradeDesk.com) is the newest member to join the Canada-Africa Chamber of Business.

    Africa Trade Desk is a one-stop boutique consulting firm for Canadian and international companies, investors and entrepreneurs who want to do business in Africa and vice versa.

    They believe that diversified trading is the key to a sustained economic recovery after the pandemic.

    In February 2023, Africa Trade Desk will host its inaugural East Africa Trade Mission in Nairobi, Kenya.

    East Africa has been the fastest growing region on the continent in recent years and the only one in Africa (https://bit.ly/3dZzJSI) to have avoided a recession during the pandemic.

    Before the pandemic, projected GDP growth exceeded 5% (https://bit.ly/3EkfxFF), with several countries consistently ranking as the fastest growing economies.

    Kenya's GDP (https://bit.ly/3fIQSk1) represents more than 50% of the region's total and had a growth rate of 7.5% in 2021.

    This growth has been driven by an emerging middle class alongside with increased demand for high-value goods and services.

    In the first quarter of 2022, the growth rate was 6.8% (https://bit.ly/3M5ehYQ), and the region is forecast to see upward growth rates in the future.

    The importance of the African Continental Free Trade Area (AfCFTA) cannot be overstated either.

    It is the world's largest new free trade area since the establishment of the WTO, encompassing 1.3 billion people, with a combined GDP valued at $3.4 trillion (https://bit.ly/3C5JPJt).

    Kenya is one of the largest economies in the AfCFTA and your gateway to newer emerging economies.

    Now is the time to grow your business and Kenya is your entry point to the region.

    Click here (https://bit.ly/3UTJSAK) to reserve your spot today!

    Can't go to Kenya in February?

    The Africa Trade Desk will be in the Canadian Pavilion at Mining Indaba in South Africa.

    They also have a number of upcoming virtual events and new trade missions and exhibitions are in the works.

  •   Experts at the WTO Public Forum discuss greening micro small and medium sized enterprises to reap the benefits of the African Continental Free Trade Area In a session organized by the Economic Commission for Africa UNECA and the Trade Center International ITC as part of the 2022 World Trade Organization WTO Public Forum on September 27 2022 experts urged the private sector to seize the opportunities brought by the green transition in Africa The panel discussion titled MSMEs The Key to Achieving Sustainable Profits under the AfCFTA moderated by Melaku Desta Coordinator of ECA s Africa Center for Trade Policy explored sustainable initiatives to embed green solutions in Africa s small businesses and attracted over 100 online and face to face participants Panelists also underscored the sustainable gains that can be reaped from green trade in conjunction with the African Continental Free Trade Area AfCFTA and called on micro small and medium sized enterprises MSMEs to anticipate challenges as companies seek to integrate green solutions In her opening remarks Dorothy Tembo Deputy Executive Director of ITC highlighted ITC s Green2Compete initiative which helps small businesses improve their competitiveness by integrating green production techniques for sustainable trade ITC is also working closely with the African Standards Organization ARSO to increase the transparency of private sustainability standards and has plans to scale up its work with market partners to achieve harmonization of these environmental standards making them more accessible to small businesses In her remarks Hermog ne Nsengimana Secretary General of ARSO emphasized the need to prioritize the harmonization of standards to achieve sustainability Lately the sustainability and resilience of value chains have become more important due to the disruptions induced by COVID 19 and the demand for more sustainable production and trade has increased This was stated by Robert Hamwey Economic Affairs Officer of the United Nations Conference on Trade and Development UNCTAD On strengthening the capacities of MSMEs to improve their competitiveness in national regional and global markets Annalisa Primi Head of Economic Transformation and Development at the OECD Development Centre underscored the need to reform policies that divide sectors informal and formal in order to enable the poor to participate in markets and engage in higher value added business activities Describing the importance of increased investment in Africa s green energy transition Maximiliano M ndez Parra Principal Fellow at ODI affirmed the role the AfCFTA can play in securing investment in green energy and technology
    Small green businesses in Africa
      Experts at the WTO Public Forum discuss greening micro small and medium sized enterprises to reap the benefits of the African Continental Free Trade Area In a session organized by the Economic Commission for Africa UNECA and the Trade Center International ITC as part of the 2022 World Trade Organization WTO Public Forum on September 27 2022 experts urged the private sector to seize the opportunities brought by the green transition in Africa The panel discussion titled MSMEs The Key to Achieving Sustainable Profits under the AfCFTA moderated by Melaku Desta Coordinator of ECA s Africa Center for Trade Policy explored sustainable initiatives to embed green solutions in Africa s small businesses and attracted over 100 online and face to face participants Panelists also underscored the sustainable gains that can be reaped from green trade in conjunction with the African Continental Free Trade Area AfCFTA and called on micro small and medium sized enterprises MSMEs to anticipate challenges as companies seek to integrate green solutions In her opening remarks Dorothy Tembo Deputy Executive Director of ITC highlighted ITC s Green2Compete initiative which helps small businesses improve their competitiveness by integrating green production techniques for sustainable trade ITC is also working closely with the African Standards Organization ARSO to increase the transparency of private sustainability standards and has plans to scale up its work with market partners to achieve harmonization of these environmental standards making them more accessible to small businesses In her remarks Hermog ne Nsengimana Secretary General of ARSO emphasized the need to prioritize the harmonization of standards to achieve sustainability Lately the sustainability and resilience of value chains have become more important due to the disruptions induced by COVID 19 and the demand for more sustainable production and trade has increased This was stated by Robert Hamwey Economic Affairs Officer of the United Nations Conference on Trade and Development UNCTAD On strengthening the capacities of MSMEs to improve their competitiveness in national regional and global markets Annalisa Primi Head of Economic Transformation and Development at the OECD Development Centre underscored the need to reform policies that divide sectors informal and formal in order to enable the poor to participate in markets and engage in higher value added business activities Describing the importance of increased investment in Africa s green energy transition Maximiliano M ndez Parra Principal Fellow at ODI affirmed the role the AfCFTA can play in securing investment in green energy and technology
    Small green businesses in Africa
    Africa2 months ago

    Small green businesses in Africa

    Experts at the WTO Public Forum discuss greening micro, small and medium-sized enterprises to reap the benefits of the African Continental Free Trade Area In a session organized by the Economic Commission for Africa (UNECA) and the Trade Center International (ITC) as part of the 2022 World Trade Organization (WTO) Public Forum on September 27, 2022, experts urged the private sector to seize the opportunities brought by the green transition in Africa.

    The panel discussion titled "MSMEs: The Key to Achieving Sustainable Profits under the AfCFTA", moderated by Melaku Desta, Coordinator of ECA's Africa Center for Trade Policy, explored sustainable initiatives to embed green solutions in Africa's small businesses and attracted over 100 online and face-to-face participants.

    Panelists also underscored the sustainable gains that can be reaped from green trade in conjunction with the African Continental Free Trade Area (AfCFTA) and called on micro, small and medium-sized enterprises (MSMEs) to anticipate challenges as companies seek to integrate green solutions.

    In her opening remarks, Dorothy Tembo, Deputy Executive Director of ITC, highlighted ITC's Green2Compete initiative, which helps small businesses improve their competitiveness by integrating green production techniques for sustainable trade.

    ITC is also working closely with the African Standards Organization (ARSO) to increase the transparency of private sustainability standards and has plans to scale up its work with market partners to achieve harmonization of these environmental standards, making them more accessible to small businesses.

    In her remarks, Hermogène Nsengimana, Secretary General of ARSO, emphasized the need to prioritize the harmonization of standards to achieve sustainability.

    Lately, the sustainability and resilience of value chains have become more important due to the disruptions induced by COVID-19 and the demand for more sustainable production and trade has increased.

    This was stated by Robert Hamwey, Economic Affairs Officer of the United Nations Conference on Trade and Development (UNCTAD).

    On strengthening the capacities of MSMEs to improve their competitiveness in national, regional and global markets, Annalisa Primi, Head of Economic Transformation and Development at the OECD Development Centre, underscored the need to reform policies that divide sectors informal and formal, in order to enable the poor to participate in markets and engage in higher value-added business activities.

    Describing the importance of increased investment in Africa's green energy transition, Maximiliano Méndez-Parra, Principal Fellow at ODI, affirmed the role the AfCFTA can play in securing investment in green energy and technology.

  •   FIFA President www FIFA com Signs Memorandum of Understanding with WTO Director General Ngozi Okonjo Iweala The signing ceremony takes place on the opening day of the WTO s annual Public Forum Both organizations are committed to finding ways for football to promote greater economic inclusion FIFA has joined forces with the World Trade Organization WTO to look at ways to use football to promote economic inclusion especially in the developing world The partnership is detailed in a Memorandum of Understanding MoU signed by FIFA President Gianni Infantino and WTO Director General Ngozi Okonjo Iweala where the two parties agreed to collaborate by exchanging views on their respective activities and preparing and implementing common strategies and projects I am really excited at the prospect of collaborating with FIFA to try to harness the cotton sector in a positive way for poor developing countries like the Cotton 4 said FIFA Director General WTO Ngozi Okonjo Iweala referring to WTO cotton program in Benin Burkina Faso Chad and Mali to be included in the partnership I am really excited that the collaboration with FIFA can help us bring these countries more into the global cotton value chain I am also excited at the prospect of working on gender empowerment we can drive this through trade to support women this is a positive sign added the WHO Director General FIFA redistributes its income among our 211 member associations to help them develop football in their countries by notably investing in infrastructure facilities competitions refereeing and training said FIFA President Gianni Infantino However we believe there is still more that football can do especially for young people in the developing world This important partnership can help us find ways to ensure that football can further promote sustainable development for all benefit from the global football economy Under the terms of the MoU the two organizations will also work together to analyze the economic impact of football and its role in unlocking the potential for global economic growth and explore options for the development of capacity building that supports the use of football as a tool for the economic empowerment of women
    FIFA joins forces with the World Trade Organization (WTO) to promote economic inclusion
      FIFA President www FIFA com Signs Memorandum of Understanding with WTO Director General Ngozi Okonjo Iweala The signing ceremony takes place on the opening day of the WTO s annual Public Forum Both organizations are committed to finding ways for football to promote greater economic inclusion FIFA has joined forces with the World Trade Organization WTO to look at ways to use football to promote economic inclusion especially in the developing world The partnership is detailed in a Memorandum of Understanding MoU signed by FIFA President Gianni Infantino and WTO Director General Ngozi Okonjo Iweala where the two parties agreed to collaborate by exchanging views on their respective activities and preparing and implementing common strategies and projects I am really excited at the prospect of collaborating with FIFA to try to harness the cotton sector in a positive way for poor developing countries like the Cotton 4 said FIFA Director General WTO Ngozi Okonjo Iweala referring to WTO cotton program in Benin Burkina Faso Chad and Mali to be included in the partnership I am really excited that the collaboration with FIFA can help us bring these countries more into the global cotton value chain I am also excited at the prospect of working on gender empowerment we can drive this through trade to support women this is a positive sign added the WHO Director General FIFA redistributes its income among our 211 member associations to help them develop football in their countries by notably investing in infrastructure facilities competitions refereeing and training said FIFA President Gianni Infantino However we believe there is still more that football can do especially for young people in the developing world This important partnership can help us find ways to ensure that football can further promote sustainable development for all benefit from the global football economy Under the terms of the MoU the two organizations will also work together to analyze the economic impact of football and its role in unlocking the potential for global economic growth and explore options for the development of capacity building that supports the use of football as a tool for the economic empowerment of women
    FIFA joins forces with the World Trade Organization (WTO) to promote economic inclusion
    Africa2 months ago

    FIFA joins forces with the World Trade Organization (WTO) to promote economic inclusion

    FIFA President (www.FIFA.com) Signs Memorandum of Understanding with WTO Director General Ngozi Okonjo-Iweala; The signing ceremony takes place on the opening day of the WTO's annual Public Forum; Both organizations are committed to finding ways for football to promote greater economic inclusion.

    FIFA has joined forces with the World Trade Organization (WTO) to look at ways to use football to promote economic inclusion, especially in the developing world.

    The partnership is detailed in a Memorandum of Understanding (MoU) signed by FIFA President Gianni Infantino and WTO Director General Ngozi Okonjo-Iweala, where the two parties agreed to collaborate by exchanging views on their respective activities.

    and preparing and implementing common strategies and projects “I am really excited at the prospect of collaborating with FIFA to try to harness the cotton sector in a positive way for poor developing countries like the Cotton 4,” said FIFA Director General WTO, Ngozi Okonjo-Iweala, referring to WTO cotton.

    program in Benin, Burkina Faso, Chad and Mali to be included in the partnership.

    “I am really excited that the collaboration with FIFA can help us bring these countries more into the global cotton value chain.

    “I am also excited at the prospect of working on gender empowerment.

    we can drive this through trade to support women, this is a positive sign," added the WHO Director-General.

    "FIFA redistributes its income among our 211 member associations to help them develop football in their countries by notably investing in infrastructure, facilities, competitions, refereeing and training," said FIFA President Gianni Infantino.

    "However, we believe there is still more that football can do, especially for young people in the developing world.

    This important partnership can help us find ways to ensure that football can further promote sustainable development for all benefit from the global football economy."

    Under the terms of the MoU, the two organizations will also work together to analyze the economic impact of football and its role in unlocking the potential for global economic growth and explore options for the development of capacity building that supports the use of football as a tool for the economic empowerment of women.

  •  The Food and Agriculture Organisation FAO International Monetary Fund IMF World Bank Group World Food Programme and World Trade Organisation have called for urgent action to address the global food security crisis This is contained in a joint statement issued by the Director General FAO Qu Dongyu Managing Director IMF Kristalina Georgieva President WBG David Malpass Executive Director WFP David Beasley and Director General WTO Dr Ngozi Okonjo Iweala They said the war in Ukraine continues to worsen global food security and nutrition crisis triggering higher volatility in energy food and fertiliser prices They said inspite of the reprieve in global food prices and the resumption of grain exports from the Black Sea food remained beyond reach for many due to high prices and weather shocks They said the number of people facing acute food insecurity worldwide is expected to continue to rise Fertiliser markets they said remained volatile especially in Europe where tight natural gas supplies and high prices had caused many producers of urea and ammonia to stop operations We welcome the efforts of the Global Crisis Response Group and the Black Sea Grain Initiative through the Joint Coordination Centre over three million metric tons of grain and foodstuffs have already been exported from Ukraine We are encouraged by the downward trend of trade restrictive measures implemented by countries and hope that the trend continues they said The World Bank is implementing its 30 billion dollar programme to respond to the food security crisis and front loading resources from the IDA20 Crisis Response Window The leaders added that the IMF was proposing a new food shock window within the IMF emergency lending instruments The FAO has proposed a series of policy recommendations and launched detailed soil nutrition maps at country level to increase efficiencies in the use of fertilisers Maintaining momentum on these fronts and building resilience for the future would require a continued comprehensive and coordinated effort to support efficient production and trade and improve transparency Also to accelerate innovation and joint planning and invest in food systems transformation they said In terms of supporting efficient production and trade they said governments in all countries need to urgently re examine their agricultural trade and market interventions such as subsidies and export restrictions This would help to identify and minimise distortions In terms of improving transparency food market monitoring must be supplemented with transparent tracking of financing by the international community to respond to the food crisis Governments should provide necessary data and resources to support Agricultural Market Information System which enhances transparency in food markets through monitoring the prices and availability of major food crops and promoting policy responses they noted Addressing both infrastructure bottlenecks and input supply bottlenecks for example fertilizers and seeds they said are critical to an efficient food supply system Effective and sustainable support to smallholder farmers will be vital to ensure they are part of the solution and to localise supply chains We remain committed to working together to address immediate food security and nutrition needs tackle structural market issues that may exacerbate adverse impacts and build countries resilience to prevent and mitigate the impacts of future NewsSourceCredit NAN
    FAO, Word Bank, others call for urgent action to address global food crisis
     The Food and Agriculture Organisation FAO International Monetary Fund IMF World Bank Group World Food Programme and World Trade Organisation have called for urgent action to address the global food security crisis This is contained in a joint statement issued by the Director General FAO Qu Dongyu Managing Director IMF Kristalina Georgieva President WBG David Malpass Executive Director WFP David Beasley and Director General WTO Dr Ngozi Okonjo Iweala They said the war in Ukraine continues to worsen global food security and nutrition crisis triggering higher volatility in energy food and fertiliser prices They said inspite of the reprieve in global food prices and the resumption of grain exports from the Black Sea food remained beyond reach for many due to high prices and weather shocks They said the number of people facing acute food insecurity worldwide is expected to continue to rise Fertiliser markets they said remained volatile especially in Europe where tight natural gas supplies and high prices had caused many producers of urea and ammonia to stop operations We welcome the efforts of the Global Crisis Response Group and the Black Sea Grain Initiative through the Joint Coordination Centre over three million metric tons of grain and foodstuffs have already been exported from Ukraine We are encouraged by the downward trend of trade restrictive measures implemented by countries and hope that the trend continues they said The World Bank is implementing its 30 billion dollar programme to respond to the food security crisis and front loading resources from the IDA20 Crisis Response Window The leaders added that the IMF was proposing a new food shock window within the IMF emergency lending instruments The FAO has proposed a series of policy recommendations and launched detailed soil nutrition maps at country level to increase efficiencies in the use of fertilisers Maintaining momentum on these fronts and building resilience for the future would require a continued comprehensive and coordinated effort to support efficient production and trade and improve transparency Also to accelerate innovation and joint planning and invest in food systems transformation they said In terms of supporting efficient production and trade they said governments in all countries need to urgently re examine their agricultural trade and market interventions such as subsidies and export restrictions This would help to identify and minimise distortions In terms of improving transparency food market monitoring must be supplemented with transparent tracking of financing by the international community to respond to the food crisis Governments should provide necessary data and resources to support Agricultural Market Information System which enhances transparency in food markets through monitoring the prices and availability of major food crops and promoting policy responses they noted Addressing both infrastructure bottlenecks and input supply bottlenecks for example fertilizers and seeds they said are critical to an efficient food supply system Effective and sustainable support to smallholder farmers will be vital to ensure they are part of the solution and to localise supply chains We remain committed to working together to address immediate food security and nutrition needs tackle structural market issues that may exacerbate adverse impacts and build countries resilience to prevent and mitigate the impacts of future NewsSourceCredit NAN
    FAO, Word Bank, others call for urgent action to address global food crisis
    Economy3 months ago

    FAO, Word Bank, others call for urgent action to address global food crisis

    The Food and Agriculture Organisation (FAO), International Monetary Fund (IMF), World Bank Group, World Food Programme, and World Trade Organisation have called for urgent action to address the global food security crisis.

    This is contained in a joint statement issued by the Director-General, FAO, Qu Dongyu; Managing Director, IMF, Kristalina Georgieva; President, WBG, David Malpass; Executive Director, WFP, David Beasley and Director-General, WTO, Dr Ngozi Okonjo-Iweala.

    They said the war in Ukraine continues to worsen global food security and nutrition crisis, triggering higher volatility in energy, food and fertiliser prices.

    They said inspite of the reprieve in global food prices and the resumption of grain exports from the Black Sea, food remained beyond reach for many due to high prices and weather shocks.

    They said the number of people facing acute food insecurity worldwide is expected to continue to rise.

    Fertiliser markets, they said, remained volatile, especially in Europe, where tight natural gas supplies and high prices had caused many producers of urea and ammonia to stop operations.

    “We welcome the efforts of the Global Crisis Response Group and the Black Sea Grain Initiative: through the Joint Coordination Centre, over three million metric tons of grain and foodstuffs have already been exported from Ukraine.

    ” We are encouraged by the downward trend of trade-restrictive measures implemented by countries and hope that the trend continues, ” they said.

    The World Bank is implementing its 30 billion dollar programme to respond to the food security crisis and front loading resources from the IDA20 Crisis Response Window.

    The leaders added that the IMF was proposing a new food shock window within the IMF emergency lending instruments.

    ” The FAO has proposed a series of policy recommendations and launched detailed soil nutrition maps at country level to increase efficiencies in the use of fertilisers.

    ”Maintaining momentum on these fronts and building resilience for the future would require a continued comprehensive and coordinated effort to support efficient production and trade, and improve transparency.

    “Also to accelerate innovation and joint planning and invest in food systems transformation,” they said.

    In terms of supporting efficient production and trade, they said, governments in all countries need to urgently re-examine their agricultural trade and market interventions, such as subsidies and export restrictions.

    “This would help to identify and minimise distortions.

    ”In terms of improving transparency, food market monitoring must be supplemented with transparent tracking of financing by the international community to respond to the food crisis.

    “Governments should provide necessary data and resources to support Agricultural Market Information System, which enhances transparency in food markets through monitoring the prices and availability of major food crops and promoting policy responses, “they noted.

    Addressing both infrastructure bottlenecks and input supply bottlenecks, for example, fertilizers and seeds, they said are critical to an efficient food supply system.

    “Effective and sustainable support to smallholder farmers will be vital to ensure they are part of the solution and to localise supply chains.

    “We remain committed to working together to address immediate food security and nutrition needs, tackle structural market issues that may exacerbate adverse impacts, and build countries’ resilience to prevent and mitigate the impacts of future.


    NewsSourceCredit: NAN

  •   The BRICS countries Brazil the Russian Federation India China and South Africa are increasingly important players in global services markets despite the setbacks caused by the pandemic BRICS countries accounted for 10 of global services exports and 13 of global services imports in 2020 The International Trade Center report BRICS Trade in Services Report 2022 finds that BRICS countries can improve competitiveness in trade in services by improving national policies developing trade networks taking advantage of regional transport and logistics initiatives and improving data collection and information sharing among BRICS regulators The report updates a 2017 ITC report with the latest data on sectors and modes of supply for each BRICS country and analyzes intra BRICS trade This provides information on trade patterns and opportunities for collaboration with and between the BRICS countries Key Sectors Transport travel and other business services account for the majority of BRICS countries services exports and imports Other sectors occupy a prominent place in each country s service exports construction for Brazil charges for financial services telecommunications and intellectual property for the Russian Federation telecommunications and ICT services for India telecommunications services related to manufacturing and construction for China and financial services and telecommunications services for South Africa Boosting competitiveness Trade integration in services markets has been proceeding significantly more slowly than in goods markets in the BRICS the report notes The report suggests a focus on digital and higher value added services to make commerce stronger and more resilient The biggest challenge in analyzing trade in services is the lack of data This report brings together available data on services trade from various sources and presents a comprehensive review of services trade for the BRICS countries said Pamela Coke Hamilton ITC Executive Director Better data can be obtained by collecting data on trade in services by subsector and partner country tracking foreign affiliate sales supporting the data collection efforts of international organizations and improving data collection national data through pilot projects The report also recommends reducing trade costs with policy reforms and regional initiatives creating conducive domestic policy environments for SMEs increased information sharing between BRICS authorities and cooperation in the context of the G20 the WTO and other forums as well as building stronger cooperation in the private sector on trade in services
    Brazil, the Russian Federation, India, China and South Africa (BRICS) Services Trade Report offers prospects for growth
      The BRICS countries Brazil the Russian Federation India China and South Africa are increasingly important players in global services markets despite the setbacks caused by the pandemic BRICS countries accounted for 10 of global services exports and 13 of global services imports in 2020 The International Trade Center report BRICS Trade in Services Report 2022 finds that BRICS countries can improve competitiveness in trade in services by improving national policies developing trade networks taking advantage of regional transport and logistics initiatives and improving data collection and information sharing among BRICS regulators The report updates a 2017 ITC report with the latest data on sectors and modes of supply for each BRICS country and analyzes intra BRICS trade This provides information on trade patterns and opportunities for collaboration with and between the BRICS countries Key Sectors Transport travel and other business services account for the majority of BRICS countries services exports and imports Other sectors occupy a prominent place in each country s service exports construction for Brazil charges for financial services telecommunications and intellectual property for the Russian Federation telecommunications and ICT services for India telecommunications services related to manufacturing and construction for China and financial services and telecommunications services for South Africa Boosting competitiveness Trade integration in services markets has been proceeding significantly more slowly than in goods markets in the BRICS the report notes The report suggests a focus on digital and higher value added services to make commerce stronger and more resilient The biggest challenge in analyzing trade in services is the lack of data This report brings together available data on services trade from various sources and presents a comprehensive review of services trade for the BRICS countries said Pamela Coke Hamilton ITC Executive Director Better data can be obtained by collecting data on trade in services by subsector and partner country tracking foreign affiliate sales supporting the data collection efforts of international organizations and improving data collection national data through pilot projects The report also recommends reducing trade costs with policy reforms and regional initiatives creating conducive domestic policy environments for SMEs increased information sharing between BRICS authorities and cooperation in the context of the G20 the WTO and other forums as well as building stronger cooperation in the private sector on trade in services
    Brazil, the Russian Federation, India, China and South Africa (BRICS) Services Trade Report offers prospects for growth
    Africa3 months ago

    Brazil, the Russian Federation, India, China and South Africa (BRICS) Services Trade Report offers prospects for growth

    The BRICS countries (Brazil, the Russian Federation, India, China and South Africa) are increasingly important players in global services markets, despite the setbacks caused by the pandemic.

    BRICS countries accounted for 10% of global services exports and 13% of global services imports in 2020.

    The International Trade Center report, BRICS Trade in Services Report 2022, finds that BRICS countries can improve competitiveness in trade in services by improving national policies, developing trade networks, taking advantage of regional transport and logistics initiatives, and improving data collection and information sharing among BRICS regulators.

    The report updates a 2017 ITC report with the latest data on sectors and modes of supply for each BRICS country and analyzes intra-BRICS trade.

    This provides information on trade patterns and opportunities for collaboration with and between the BRICS countries.

    Key Sectors Transport, travel and other business services account for the majority of BRICS countries' services exports and imports.

    Other sectors occupy a prominent place in each country's service exports: construction for Brazil; charges for financial services, telecommunications and intellectual property for the Russian Federation; telecommunications and ICT services for India; telecommunications, services related to manufacturing and construction for China; and financial services and telecommunications services for South Africa.

    Boosting competitiveness Trade integration in services markets has been proceeding significantly more slowly than in goods markets in the BRICS, the report notes.

    The report suggests a focus on digital and higher value-added services to make commerce stronger and more resilient.

    'The biggest challenge in analyzing trade in services is the lack of data.

    This report brings together available data on services trade from various sources and presents a comprehensive review of services trade for the BRICS countries,” said Pamela Coke-Hamilton, ITC Executive Director.

    Better data can be obtained by collecting data on trade in services by subsector and partner country, tracking foreign affiliate sales, supporting the data collection efforts of international organizations, and improving data collection.

    national data through pilot projects.

    The report also recommends reducing trade costs with policy reforms and regional initiatives, creating conducive domestic policy environments for SMEs, increased information sharing between BRICS authorities, and cooperation in the context of the G20, the WTO and other forums.

    , as well as building stronger cooperation in the private sector.

    on trade in services.

  •   President Cyril Ramaphosa has concluded his official working visit to the United States at the invitation of President Joseph Biden The two leaders deliberated on a variety of critical issues of national regional and global importance during their bilateral meeting where trade investment global peace and stability health as well as climate change and energy transition were discussed fair TRADE AND INVESTMENT On trade and investment there was agreement on the need to create a more attractive environment for US companies to invest in South Africa where some 600 US companies are already doing business in a variety of sectors A joint working group on trade and investment will be established to expand bilateral economic ties In 2023 South Africa will host the African Growth and Opportunity Act AGOA Forum which will chart the next phase of trade between Africa and the US President Ramaphosa welcomed the additional commitment from the US to improve the volumes of investment and bilateral trade which will create much needed jobs and economic growth in South Africa President Ramaphosa expressed South Africa s concerns about US tariffs on South African steel and aluminum products which South Africa views as unfair and punitive JUST ENERGY TRANSITION Leaders affirmed their commitment to the Just Energy Transition and agreed that South Africa will require more funding to achieve a just and effective transition that leaves no one behind and protects workers and communities who would be affected by the energy transition fossil fuels to clean energy Work on the investment plan for the Just Energy Transition Partnership between South Africa and the United States the United Kingdom France Germany and the European Union is expected to be completed by the United Nations Climate Change Conference COP 27 in November 2022 in Egypt REGIONAL STABILITY AND GLOBAL SECURITY Discussions on global security and stability focused on attacks by insurgents in Mozambique President Ramaphosa acknowledged the assistance currently being provided by the United States to respond to the insurgent threat in Mozambique President Ramaphosa called for more US support in providing skills and resources to counter terrorist activities that are causing great suffering in Mozambique and threatening the stability of the SADC region FOOD SECURITY IN AFRICA Food security in Africa featured prominently in the meeting with both Heads of State After discussions at the G7 meeting held in Germany this year there is a consensus to support Africa s efforts towards fertilizer manufacturing which will strengthen Africa s independence to ensure the continent s food security said President Ramaphosa BIIL ON RUSSIAN MALIGNANT ACTIVITIES President Ramaphosa expressed concern about the bill to combat Russia s malign activities in Africa which is currently before the US Congress President Ramaphosa said that if signed into law the law would unfairly marginalize and punish African countries for exercising their sovereignty in their pursuit of development and economic growth President Ramaphosa emphasized the need for an urgent end to the conflict between Russia and Ukraine and emphasized the leadership role that United Nations Secretary General Ant nio Guterres can provide in leading a peace process HEALTH AND HEALTH SYSTEMS TRAINING President Ramaphosa expressed appreciation for US support in training health services and preparing for future pandemics This includes continued support for PEPFAR s programs to combat HIV AIDS and tuberculosis and support during the COVID 19 pandemic President Ramaphosa applauded the leadership role played by President Biden in helping developing economies strengthen their health systems and for supporting the WTO s TRIPS exemption for vaccine manufacturing UNITED NATIONS REFORMS AND MULTILATERALISM Africa s representation in key multilateral institutions was highlighted by President Ramaphosa This includes the proposal for Africa s entry through the African Union AU into the Group of 20 countries G20 The lack of representation of Africa s 1 3 billion people on the United Nations Security Council remains a blight on the global democratic order said President Ramaphosa Both leaders agreed on the need for broader reforms of the United Nations BUILDING STATE CAPACITY President Ramaphosa submitted a proposal for a partnership with the US to support South Africa s efforts to develop public servants especially women In this regard the South African National School of Government will work closely with leading US institutions in designing training programs for South African civil servants Prior to meeting with President Biden President Ramaphosa met with Vice President of the United States Kamala Harris at her official residence where they discussed women s empowerment health and safety partnership in technology and space exploration
    President Ramaphosa concludes positive visit to Washington DC
      President Cyril Ramaphosa has concluded his official working visit to the United States at the invitation of President Joseph Biden The two leaders deliberated on a variety of critical issues of national regional and global importance during their bilateral meeting where trade investment global peace and stability health as well as climate change and energy transition were discussed fair TRADE AND INVESTMENT On trade and investment there was agreement on the need to create a more attractive environment for US companies to invest in South Africa where some 600 US companies are already doing business in a variety of sectors A joint working group on trade and investment will be established to expand bilateral economic ties In 2023 South Africa will host the African Growth and Opportunity Act AGOA Forum which will chart the next phase of trade between Africa and the US President Ramaphosa welcomed the additional commitment from the US to improve the volumes of investment and bilateral trade which will create much needed jobs and economic growth in South Africa President Ramaphosa expressed South Africa s concerns about US tariffs on South African steel and aluminum products which South Africa views as unfair and punitive JUST ENERGY TRANSITION Leaders affirmed their commitment to the Just Energy Transition and agreed that South Africa will require more funding to achieve a just and effective transition that leaves no one behind and protects workers and communities who would be affected by the energy transition fossil fuels to clean energy Work on the investment plan for the Just Energy Transition Partnership between South Africa and the United States the United Kingdom France Germany and the European Union is expected to be completed by the United Nations Climate Change Conference COP 27 in November 2022 in Egypt REGIONAL STABILITY AND GLOBAL SECURITY Discussions on global security and stability focused on attacks by insurgents in Mozambique President Ramaphosa acknowledged the assistance currently being provided by the United States to respond to the insurgent threat in Mozambique President Ramaphosa called for more US support in providing skills and resources to counter terrorist activities that are causing great suffering in Mozambique and threatening the stability of the SADC region FOOD SECURITY IN AFRICA Food security in Africa featured prominently in the meeting with both Heads of State After discussions at the G7 meeting held in Germany this year there is a consensus to support Africa s efforts towards fertilizer manufacturing which will strengthen Africa s independence to ensure the continent s food security said President Ramaphosa BIIL ON RUSSIAN MALIGNANT ACTIVITIES President Ramaphosa expressed concern about the bill to combat Russia s malign activities in Africa which is currently before the US Congress President Ramaphosa said that if signed into law the law would unfairly marginalize and punish African countries for exercising their sovereignty in their pursuit of development and economic growth President Ramaphosa emphasized the need for an urgent end to the conflict between Russia and Ukraine and emphasized the leadership role that United Nations Secretary General Ant nio Guterres can provide in leading a peace process HEALTH AND HEALTH SYSTEMS TRAINING President Ramaphosa expressed appreciation for US support in training health services and preparing for future pandemics This includes continued support for PEPFAR s programs to combat HIV AIDS and tuberculosis and support during the COVID 19 pandemic President Ramaphosa applauded the leadership role played by President Biden in helping developing economies strengthen their health systems and for supporting the WTO s TRIPS exemption for vaccine manufacturing UNITED NATIONS REFORMS AND MULTILATERALISM Africa s representation in key multilateral institutions was highlighted by President Ramaphosa This includes the proposal for Africa s entry through the African Union AU into the Group of 20 countries G20 The lack of representation of Africa s 1 3 billion people on the United Nations Security Council remains a blight on the global democratic order said President Ramaphosa Both leaders agreed on the need for broader reforms of the United Nations BUILDING STATE CAPACITY President Ramaphosa submitted a proposal for a partnership with the US to support South Africa s efforts to develop public servants especially women In this regard the South African National School of Government will work closely with leading US institutions in designing training programs for South African civil servants Prior to meeting with President Biden President Ramaphosa met with Vice President of the United States Kamala Harris at her official residence where they discussed women s empowerment health and safety partnership in technology and space exploration
    President Ramaphosa concludes positive visit to Washington DC
    Africa3 months ago

    President Ramaphosa concludes positive visit to Washington DC

    President Cyril Ramaphosa has concluded his official working visit to the United States at the invitation of President Joseph Biden.

    The two leaders deliberated on a variety of critical issues of national, regional and global importance during their bilateral meeting, where trade, investment, global peace and stability, health, as well as climate change and energy transition were discussed.

    fair.

    TRADE AND INVESTMENT On trade and investment, there was agreement on the need to create a more attractive environment for US companies to invest in South Africa, where some 600 US companies are already doing business in a variety of sectors.

    A joint working group on trade and investment will be established to expand bilateral economic ties.

    In 2023, South Africa will host the African Growth and Opportunity Act (AGOA) Forum, which will chart the next phase of trade between Africa and the US.

    President Ramaphosa welcomed the additional commitment from the US to improve the volumes of investment and bilateral trade, which will create much-needed jobs and economic growth in South Africa.

    President Ramaphosa expressed South Africa's concerns about US tariffs on South African steel and aluminum products, which South Africa views as unfair and punitive.

    JUST ENERGY TRANSITION Leaders affirmed their commitment to the Just Energy Transition and agreed that South Africa will require more funding to achieve a just and effective transition that leaves no one behind and protects workers and communities who would be affected by the energy transition.

    fossil fuels.

    to clean energy.

    Work on the investment plan for the Just Energy Transition Partnership between South Africa and the United States, the United Kingdom, France, Germany and the European Union is expected to be completed by the United Nations Climate Change Conference ( COP 27) in November 2022 in Egypt.

    REGIONAL STABILITY AND GLOBAL SECURITY Discussions on global security and stability focused on attacks by insurgents in Mozambique.

    President Ramaphosa acknowledged the assistance currently being provided by the United States to respond to the insurgent threat in Mozambique.

    President Ramaphosa called for more US support in providing skills and resources to counter terrorist activities that are causing great suffering in Mozambique and threatening the stability of the SADC region.

    FOOD SECURITY IN AFRICA Food security in Africa featured prominently in the meeting with both Heads of State.

    "After discussions at the G7 meeting held in Germany this year, there is a consensus to support Africa's efforts towards fertilizer manufacturing, which will strengthen Africa's independence to ensure the continent's food security," said President Ramaphosa.

    .

    BIIL ON RUSSIAN MALIGNANT ACTIVITIES President Ramaphosa expressed concern about the bill to combat Russia's malign activities in Africa, which is currently before the US Congress.

    President Ramaphosa said that if signed into law, the law would unfairly marginalize and punish African countries for exercising their sovereignty in their pursuit of development and economic growth.

    President Ramaphosa emphasized the need for an urgent end to the conflict between Russia and Ukraine and emphasized the leadership role that United Nations Secretary-General António Guterres can provide in leading a peace process.

    HEALTH AND HEALTH SYSTEMS TRAINING President Ramaphosa expressed appreciation for US support in training health services and preparing for future pandemics.

    This includes continued support for PEPFAR's programs to combat HIV/AIDS and tuberculosis, and support during the COVID-19 pandemic.

    President Ramaphosa applauded the leadership role played by President Biden in helping developing economies strengthen their health systems and for supporting the WTO's TRIPS exemption for vaccine manufacturing.

    UNITED NATIONS REFORMS AND MULTILATERALISM Africa's representation in key multilateral institutions was highlighted by President Ramaphosa.

    This includes the proposal for Africa's entry through the African Union (AU) into the Group of 20 countries (G20).

    “The lack of representation of Africa's 1.3 billion people on the United Nations Security Council remains a blight on the global democratic order,” said President Ramaphosa.

    Both leaders agreed on the need for broader reforms of the United Nations.

    BUILDING STATE CAPACITY President Ramaphosa submitted a proposal for a partnership with the US to support South Africa's efforts to develop public servants, especially women.

    In this regard, the South African National School of Government will work closely with leading US institutions in designing training programs for South African civil servants.

    Prior to meeting with President Biden, President Ramaphosa met with Vice President of the United States Kamala Harris at her official residence, where they discussed women's empowerment, health and safety, partnership in technology and space exploration.

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