Optimism about the future of Africa has become a reality. The growth of the continent has been exemplary in recent years.
The World Bank has launched a “Defragment Africa” approach, which offers a comprehensive list of policies aimed at increasing international trade on the continent. Effective regional integration goes far beyond simply eliminating tariffs – it is about removing the constraints on the ground that paralyze the daily activities of ordinary producers and traders.
The signing of the Continental Free Trade Agreement and the Kigali Declaration could mark a new push for economic integration on the African continent. However, it remains to be seen how the agreement can be built to promote more comprehensive trade in services and a reduction in non-tariff barriers.
According to the United Nations Conference on Trade and Development, medium and high-tech manufactures account for 25 per cent of intra-African trade, but only 14 per cent of exports from African countries to developed countries. Trade between them is a way to develop the value chain.
This continent has a lot of opportunities to seize especially between his countries. The economic integration of African countries will certainly accelerate the rate of growth of the continent.
If you are considering entering or expanding into African markets, BMCC can help you achieve your goals and develop an export strategy and promote your brand for targeted African countries.
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