TRENDS IN INTER AFRICAN TRADE


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    Written by: Meshack Masibo
    On the path of attaining a united African state, nothing has hindered the journey as much as not having a fully integrated African economy. The root that holds an economy or potential economy together is trade between our different nations. Trade opens up borders and allows for the free movement of goods. The most recent development on the African continent was the signing of an African Continental Free Trade Agreement (AfCFTA) by 44 African countries in March 2018. The ambition of the agreement is to boost intra-African trade with the eventual aim being creating one single trading bloc for African countries. It seemed like a mountain to climb prior to the signing of the agreement considering that negotiations started in 2015.

    These negotiations are being led by the African Union with support from entities like UNECA. The signing alone marked a significant milestone on the continent especially since Africa as a trading bloc has lagged behind markets like the European Union. Total trade among African countries is still below 11%, according to the UN Economic Commission for Africa (UNECA). If the intra-African trade improves as a result of this agreement, then it would present an opportunity for logistics companies because all the available goods will need to be moved around the continent.

    The economies in Africa are growing and countries continue……Subscribe to Readmore………

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