This dissertation consists of two essays on agricultural trade in sub-Saharan Africa. Alternatively, the share of intra-African trade would increase by nearly 40 percent to over 50 percent, depending on the ambition of the liberalization, between the start of the implementation of the reform (2020) and 2040.2. Its average GDP growth of 5.2 percent consistently outpaces that of the rest of the world. This will make Africa the largest free trade area in the world. The region presents real opportunity for American businesses, encompassing combined market population of over 1 billion people and GDP of more than $1.5 trillion. The 42 countries of continental sub-Saharan Africa include 21 of the 24 poorest countries in the world. Foreign Direct Investment Attraction Events, Services for U.S. Companies New to Exporting, Services for U.S. Companies Currently Exporting, liaison office to the African Development Bank, President’s Advisory Council on Doing Business in Africa. Figure of the week: Africa’s visa openness continues to improve, Unpacking the misconceptions about Africa’s food imports, Lessons from the proliferating mini-grid incentive programs in Africa. Although global poverty has fallen, prosperity has not been fully shared. However, to achieve this, the AfCFTA will require flanking policies and a strong focus on achieving tangible outcomes from its sister initiative, the Boosting Intra-African Trade (BIAT) Action Plan. The ‘Pulse Check- Trade Finance in Sub-Saharan Africa During Covid-19’ report issued by a consortium of multilateral development banks and trade research institutions, reveals the views of sub-Saharan banks on multi-lateral development banks’ (MDBs) responses to uphold a well-functioning trade … The U.S. and Foreign Commercial Service (CS) has offices in eight countries across Sub-Saharan Africa: There is one liaison office to the African Development Bank in Côte d’Ivoire. The AfCFTA can play a game-changing role in Africa’s economic diversification and inclusion. Sub-Saharan Africa. Fred.Stewart@trade.gov, Giancarlo Cavallo - Team Lead  Trade facilitation is key to reducing non-tariff trade costs, and is important for ensuring inclusive benefits since landlocked countries and small, informal, and female traders are usually more burdened by inadequate trade facilitation. According to modeling results by the Economic Commission for Africa (ECA),1 the AfCFTA is projected to increase the value of intra- African exports. 1401 Constitution Ave NW Trade policy reform, in the form of liberalization or removal of restrictions on trade, has been a predominant feature of economic policy reforms undertaken, to various degrees, by numerous sub‐Saharan African (SSA) countries since 1980. The U.S. and Foreign Commercial Service (CS) is present in nine sub-Saharan African countries, has a network of U.S. Africa is the world's poorest continent. “Industrializing through Trade: Economic Report on Africa 2015.” UNECA. The AfCFTA is complemented by other continental initiatives, including the Protocol on Free Movement of Persons, Right to Residence and Right to Establishment, and the Single African Air Transport Market (SAATM). 2018. Therefore caution should be taken when discussing these drivers. Trade in Sub-Saharan Africa Prepared for the Commonwealth Secretariat Jodie Keane, Massimiliano Calì & Jane Kennan Overseas Development Institute September 2010 . What is less known about the AfCFTA is that its scope exceeds that of a traditional free trade area, which generally focus on trade in goods, to include trade in services, investment, intellectual property rights and competition policy, and possibly e-commerce. The region presents real opportunity for American businesses, encompassing combined market population of over 1 billion people and GDP of more than $1.5 trillion. In these countries, knowledge transfers to other export sectors can unlock the potential of established or emerging industries. Countries: South Africa (FCS), Mozambique (FCS), Botswana, Eswatini, Malawi, Namibia, Lesotho, Zimbabwe, Ja’Nel Edens - International Trade Specialist Countries: Ghana (FCS), Côte d’Ivoire (Advocacy Center-AfDB), Cabo Verde, Guinea, Guinea-Bissau, The Gambia, Liberia, Senegal, Sierra Leone, Aaron Kirsh - International Trade Specialist The AfCFTA as a result should stimulate demand for intra-African food imports, supporting a predominantly women-led sector. “Exports and Export Diversification in Sub-Saharan Africa: A Strategy for Post-Crisis Growth.” Brookings Institution. The U.S. Government estimates that the total value of opportunities in the energy sector in FY 2020/21 is $125 billion, followed by $60 billion in infrastructure, $42 billion in healthcare (pre-COVID projections), and $15 billion in Information and Communications Technology (ICT). AUTOMOTIVE African and intercontinental trade, demographic change due to urbanisation, and other forms of economic migration as well as refugee flows. Trade policy reform, in the form of liberalization or removal of restrictions on trade, has been a predominant feature of economic policy reforms undertaken, to various degrees, by numerous sub‐Saharan African (SSA) countries since 1980. Figure 6.1 shows that, except for Rwanda, Senegal, and Sudan, African economies did not diversify their exports. We support U.S. businesses in their pursuit of export opportunities across the following locations: Commercial Service in Sub-Saharan Africa (1996). “What You Export Matters.” Journal of Economic Growth12 (1): 1–25. In 2015, African countries spent about $63 billion on food imports,4 largely from outside the continent. Washington, DC 20230, U.S. - AU Commission Business Forum Webinar. It produces about 16% of sub-Saharan Africa maize, according to the International Grains Council. While cumulative nominal GDP growth for the region over 1995–2013 amounted to a substantial 350 percent (in U.S. dollars), the equivalent increase for goods exports was even larger, at 500 percent—over the same period, global trade expanded by 260 percent. It is promising that African countries are already strategizing on how to benefit from the agreement and developing clear plans of action to take advantage of national, regional, and global markets in the AfCFTA context. As part of the Access Africa Reverse Trade Mission on Digital Infrastructure, USTDA is hosting a business briefing for U.S. companies to meet with decision-makers from the ICT sector in Ethiopia and South Africa.The event will allow U.S. company participants to meet one-on-one with delegates to showcase their … We develop technical expert It is a region facing major developmental challenges, but at the same time, one with tremendous opportunities. ECA’s modeling projects that by 2040, the AfCFTA will increase intra-African trade in agricultural products by between 20 and 30 percent, with the highest gains in sugar, vegetables, fruit, nuts, beverages, and dairy products.5 The agreement is expected to expand access to markets at the regional and international levels, thus generating state revenue, increasing farmer income, and expanding both farmer and country capacity to invest in modernizing the agricultural sector through processing and mechanization. Hausmann, Ricardo, Jason Hwang, and Dani Rodrik. 2017. The office oversees implementation of the African Growth and Opportunity Act (AGOA), a trade preference program enacted in 2000 that has been at the center of U.S.-African engagement on trade … It produces about 16% of sub-Saharan Africa maize, according to the International Grains Council. https://doi.org/10.1007/s10887-006-9009-4. Sub-Saharan Africa is witnessing high international mobility of students and health professionals. Sub-Saharan Africa. Export diversification for the continent improved only marginally between 1990 and 2014. But for the first time in a generation—amid all the bad news—there is hope for change. The President's Advisory Council on Doing Business in Africa (PAC-DBIA) advises the President, through the Secretary of Commerce, on ways to strengthen commercial engagement between the United States and African countries. (202) 790-7343  tralac (Trade Law Centre) is a public benefit organisation based in the Western Cape region of South Africa. Sub-Saharan Africa. Rapid population and GDP growth will only increase this opportunity in the future, as the region is home to some of the fastest growing economies in the world. On a different note, Foresight Africa 2018 looked at the change in Africa’s trading partners in the past 10 years. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein. Between 1990 and 2014, as most fastgrowing countries in the world diversified their economies, most African countries instead relied on rents from extractive industries. Covid-19’s dark cloud has silver linings for sub-Saharan Africa ... about 80% of world trade in 2017. Recent evidence by ECA shows that when African countries trade with themselves they exchange more manufactured and processed goods, have more knowledge transfer, and create more value. Exchange Rate Pass-Through in Sub-Saharan African Economies and its Determinants Prepared by Ivohasina F. Razafimahefa1 Authorized for distribution by Doris Ross June 2012 Abstract This paper analyzes the exchange rate pass-through to domestic prices and its determinants in sub-Saharan African countries. United Nations Economic Commission for Africa. 10.1038/ng.2423 In 2014–2016, the median rates for countries in sub-Saharan Africa ranged from 20% to 30%, depending on the tariff heading. Table reflects only those months for which there was trade. Consider South Africa. TAXES & TRADE Trade played a major role in the emergence of cities and states in sub-Saharan Africa. Giancarlo.Cavallo@trade.gov  Furthermore, although the AfCFTA can address many important demand-side constraints to trade, particularly those linked to market size, supply-side constraints must also be addressed. The operational phase of the African Continental Free Trade Area (AfCFTA) was launched last week. The real test of the AfCFTA, however, will be how quickly African countries can accelerate export diversification and product sophistication and make trade more inclusive. This is a critical move for Africa as it constitutes a significant vote of confidence in its economic potential, while other regions and countries are engaged in a trade war.. Africa trade Statistics . The top five exported HS 6 digit level products to world by Sub-Saharan Africa along with trade value are:. They agreed to eliminate tariffs on most goods, liberalize trade of key services, address nontariff obstacles to intraregional trade… On the diversity criteria, African exports have generally lagged behind, and there is no evidence of quality convergence. The International Monetary Fund predicts that this growth will only accelerate—reaching around 5.5 percent for both 2014 and 2015. 2) Armies protected the sources and trade of gold. In fact, manufactured goods make up a much higher proportion of regional exports than those leaving the continent—41.9 compared to 14.8 percent in 2014. A women on foot. Product sophistication refers to the share of value addition in a product, or product upgrading. It estimates the effect of openness to international trade on economic growth with panel data. 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