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Trade Development News
- Sep 5, 2020
- 2 min
Why trade matters for African development
A repository of real-time information on current trade negotiations is needed to track the rules that shape development outcomes in Africa, writes David Luke Trade is central to development in Africa. A long history of economic thought, theory and practice underpins this proposition. However, I do not seek to interrogate the foundational principles of international trade, but rather to highlight issues that underscore the key role of trade as a driver of growth, sustainable d
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Trade Development News
- Aug 26, 2020
- 3 min
Egypt to establish electronic Single Window system to track goods for 1st time
CAIRO – 25 August 2020: Egypt will establish an electronic system for the first time to track goods until the final release stage, and to deal in customs with goods contracted with a modern e-commerce system, with the possibility of pre-clearance and payment of customs duties before the arrival of the goods, Minister of Finance Mohamed Ma’it commented after the approval of the House of Representatives on the draft customs law on Monday. According to a statement from the Minis
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Trade Development News
- Jul 31, 2020
- 3 min
WORLD BANK - Africa Trade Pact Could Boost Income by $450 Billion, Study Finds
WASHINGTON, July 27, 2020—The African Continental Free Trade Area (AfCFTA) represents a major opportunity for countries to boost growth, reduce poverty, and broaden economic inclusion, a new World Bank report has found. If implemented fully, the trade pact could boost regional income by 7% or $450 billion, speed up wage growth for women, and lift 30 million people out of extreme poverty by 2035. The report suggests that achieving these gains will be particularly important giv
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Trade Development News
- Jul 2, 2020
- 2 min
African Perspectives: Digital Solutions for Trade Facilitation - TRALAC
Since 1947, states of the world have been working to liberalize international trade by reducing tariffs, under the General Agreement on Tariffs and Trade, and since 1995 under the World Trade Organisation (WTO) Agreements. The main focus initially was to reduce tariffs. However, it has become increasingly clear that tariffs are not the only impediments, and perhaps not even the most important impediments, to the movement of goods across borders. The multiplicity of border age
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Trade Development News
- Jun 29, 2020
- 2 min
Africa: COMESA Electronic Certificate of Origin (eCO) System will fast-track movement of goods
New Comesa plan set to ease movement of goods Kenya is among 15 African States that have agreed to pilot a new project seeking to ease movement of goods within the region’s trading bloc. The electronic certificate of origin (eCO) System, developed under the Common Market for Eastern and Southern Africa (Comesa) digital free trade area will fast-track movement of goods, enhancing intra-regional trade. The new plan will do away with registration, application and submission of c
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Trade Development News
- Mar 4, 2020
- 2 min
New project seeks to ease trade across central Africa - UNCTAD & AfDB Collaboration
Great news from our friends & advisory council members at UNCTAD on the launch yesterday by Secretary General, Dr Mukhisa Kituyi of the project in Kinshasa, the capital of the Democratic Republic of the Congo, on 3 March. UNCTAD partners with the African Development Bank with to provide technical assistance and capacity-building support to five countries across the region Through the project, UNCTAD will offer technical expertise on the implementation of the World Trade Organ
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Trade Development News
- Feb 27, 2020
- 1 min
Ghana Single Window - UNI-PASS Unfazed By Negative Campaign
As Ghana moves to implement its new single window system with UNIPASS at GTDW China Trade Development Week we ask "Single Window: What Is The New Way Forward?" Leaders Panel led by Ricardo Trevino Chapa, Deputy Secretary General, World Customs Organisation & C. Donald Brasher, President, Trade Data Monitor: VIEW AGENDA Operators of Unviersal Press (Uni-Pass), Korea Customs Service (KCS) electronic customs clearance system for trade facilitation currently being piloted at Tako
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Trade Development News
- Feb 6, 2020
- 2 min
Can the African Continental Free Trade Area succeed where previous initiatives have failed?
Africa heads into a historic year in which the long-awaited African Continental Free Trade Area (AfCFTA) finally becomes a reality, with trading under the scheme scheduled to begin on 1 July. The largest free trade zone to come into being since the launch of the World Trade Organisation in 1995, the AfCFTA is a bold venture, especially on a continent where intra-African trade is languishing at about 18% of total trade. And the political will behind it is unprecedented for a
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Trade Development News
- Jan 24, 2020
- 4 min
South Africa’s illicit cigarette trade - No smoke without fire!
The illicit trade in tobacco, especially cigarettes, costs South Africa’s economy billions of rand annually through lost tax revenue. According to the South African Revenue Service (SARS), the estimated loss through the illegal cigarette trade for the 2015/16 financial year was R6 billion. Aside from the local economic and health impact, illicit smuggling poses a threat across the Southern African region. Tackling the problem will improve regional economic outlooks and crippl
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Trade Development News
- Jan 15, 2020
- 3 min
Uganda Single Window offers seamless clearance of goods
The implementation of the Uganda Electronic Single Window (UESW) system has saved traders about $85,000 (sh308.4m) annually, that was being wasted as a result of submitting the required trade documents manually. Speaking during the launch of the second phase progress report on the UESW in Kampala last week, the Uganda Revenue Authority (URA) acting commissioner customs, Abel Kagumire, said the introduction of the system simplified trade procedures and processes, cutting delay
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Trade Development News
- Jan 9, 2020
- 2 min
Michael Ding, Chairman, Quality Brands Assurance Committee China (QBPC) Joins GTDW China Keynotes
GTDW China Trade Development Week Welcomes Michael Ding, Chairman Quality Brands Assurance Committee China (QBPC) joining keynote speakers confirmed for the major program taking place Shanghai Pudong, 16-18 June 2020. With 800 international delegates, 80 speakers, 40 exhibitors and 2 major co-located conferences this years theme covers Digitalization, Standardization & Interoperability of Trade Technologies for legitimate & anti illicit trade. View Programme: http://bit.ly/2M
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Trade Development News
- Jan 6, 2020
- 2 min
Ethiopia Launches Single Window Service To Facilitate Trade
Ethiopia Launches Electronic Customs Processing Platform For Traders The Government of Ethiopia launches an electronic platform that will enhance efficiency in trade logistics landscape of the country by speeding the customs process for importers and exporters. Labelled, Ethiopia Electronic Single Window Service, is launched on Saturday in the presence of Prime Minister Dr. Abiy Ahmed. It is said will reduce the 44 days hectic long paper work process for importers and exporte
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Trade Development News
- Nov 26, 2019
- 1 min
Diversifying Trade in Africa: New strategy approaches for the African Continental Free Trade Area
New publication by International Trade Centre, Founding Members of GTDW Advisory Council on strategic approaches for ACFTA. Africa’s Continental Free Trade Area agreement, one of the most ambitious regional integration efforts of the 21st century, is requiring policymakers to align a wide range of complex and divergent trade strategies across the continent. If the agreement is to foster economic transformation, its strategic focus may have to deviate from previous efforts. Ex
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Trade Development News
- Nov 26, 2019
- 2 min
ALIBABA To Help Ethiopia Set Up First eWTP (electronic world trade platform) Hub
China’s internet giant Alibaba Group, signed a memorandum of understanding with Ethiopian officials to help Ethiopia launch its first eWTP (electronic world trade platform) Hub, the second in Africa After Rwanda. At a ceremony held this morning and attended by Prime Minister Abiy Ahmed and Dr. Getahun Mekuria, Minister of Innovation and Technology, Jack Ma, Founder of Jack Ma Foundation and Partner of Alibaba Group, Eric Jing, Alibaba Group Director and Financial Services Gro
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Trade Development News
- Nov 21, 2019
- 3 min
Sars still not up to scratch in dealing with illicit tobacco trade
The Tobacco Institute of Southern Africa estimates that the SA fiscus is losing more than R10bn annually on unpaid excise duty The capability of Sars to deal with the illicit trade in cigarettes and tobacco is improving but is not where it should be, officials of the tax authority told MPs on Tuesday. The state loses billions in tax revenue each year due to the illicit trade in cigarettes and tobacco products. The ability of Sars to collect the tax payable was, along with its
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Trade Development News
- Nov 15, 2019
- 2 min
F.I.C.A. Leads Africa Pavilion & Delegation to GTDW China Trade Development Week, Shanghai 2020
'GTDW has seen a huge surge of interest in delegations and exhibitors from African countries over recent editions hosted in Shanghai, China. We are delighted to announce our partnership with F.I.C.A. through the leadership of Ms Virginie TICHA, President of FICA to coordinate this across the African continent through their extensive networks with governments and business leaders. This is a fantastic step forward and we are delighted to work with FICA to promote inclusive trad
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Trade Development News
- Nov 14, 2019
- 3 min
East Africa Customs Harmonisation Pushes Up Trade Over 10%
Intra-regional trade within the East African Community (EAC) bloc rose by 10.3 per cent last year, courtesy of harmonisation of cross-border rules and procedures. "Reforms taken under the Customs Union has also boosted intra-regional trade," Mr Christophe Bazivamo, EAC deputy secretary general responsible for productive and social sectors. He said intra-EAC #trade catapulted to $3.2 billion last year from $2.7 billion in 2016 and $2.9 billion in 2017. Mr Bazivamo disclosed th
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Trade Development News
- Nov 11, 2019
- 3 min
Noodle maker plans busiest port in west Africa
On the east side of Lagos, the company that turned 20-cent packets of instant noodles into a staple of the Nigerian diet is building the biggest port in west Africa with $1bn of Chinese money. Singapore-based Tolaram Group is set to close financing this week for what could be the busiest port in west Africa, a project it said would help transform Africa’s largest economy. It is also the biggest development Tolaram has ever undertaken, and a long way from its roots as a textil
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Trade Development News
- Nov 11, 2019
- 3 min
Chinese consumers spend US$22 billion in first nine hours of Alibaba’s Singles’ Day 11.11
If you have any doubts about the scale of the #China & #Asian #ecommerce sector today is a wake up call. Chinese consumers collectively spent 158.31 billion yuan (US$22.63 billion) in the first nine hours of Alibaba’s Singles’ Day shopping extravaganza, scooping up everything from consumer electronics to luxury items and even cars. The figure is two thirds of last year's final tally of US$30.8 billion. Alibaba’s Singles’ Day shopping festival, which falls on November 11 every
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