Archive for the ‘Africa’ Category

AGOA Forum Set to Shape Future of U.S.-Africa Trade Relations

Africa, News, Trade Relations, United States

November 1, 2023

The African Growth and Opportunity Act (AGOA), a cornerstone of U.S.-Africa trade relations since 2000, will be the focal point of discussions at the upcoming AGOA Forum in Johannesburg. This year’s event is critical as it precedes the 2025 expiration of the program, sparking debates on its renewal, reform, and impact. Established under former […]

German Chancellor Olaf Scholz Focuses on Trade and Investment Opportunities During West Africa Visit

Africa, Germany, International Trade, News

October 30, 2023

German Chancellor Olaf Scholz held discussions with Nigerian President Bola Tinubu during his West Africa tour, emphasizing trade and investment prospects. This visit reflects Germany’s interest in diversifying its trade partners and expanding economic collaborations in the resource-rich West African region. During their meeting in the capital city of Abuja, Scholz emphasized the need […]

New WTO Training Program Focused on Empowering African Trade

Africa, International Trade, News

October 30, 2023

In a significant step towards enhancing Africa’s role in global trade, the World Trade Organization (WTO) has launched a comprehensive regional course. This initiative, primarily focused on deepening the understanding of WTO agreements within the African trade policy context, marks a notable advancement in integrating the continent more effectively into the global trading system. […]

Ethiopia’s National Bank Introduces Offshore Accounts to Encourage Strategic Foreign Direct Investments

Africa, News, Trade Relations

September 14, 2023

The National Bank of Ethiopia (NBE) has taken a significant step to boost foreign direct investment (FDI) by permitting the establishment of offshore accounts. This new directive aims to facilitate easier fund deposits from both equity and loan financing for approved projects and attract foreign currency into the Ethiopian economy. Scope of the New Directive […]

Cross River State in Nigeria Attracts $1 Billion in Foreign Direct Investment

Africa, Foreign Direct Investment, News

September 12, 2023

Cross River State in Nigeria has secured $1 billion in Foreign Direct Investment (FDI), as announced by State Governor, Senator Bassey Otu. The investment follows the recently concluded International Cooperation and Investment Summit hosted by the state. Investment Details and Impact on Employment In a media briefing marking his first 100 days in office, Governor […]

International Trade Council Applauds Expansion of G20 with African Union as Permanent Member

Africa, International Relations, News

September 11, 2023

The International Trade Council extends its congratulations to the G20 leaders and Indian Prime Minister Narendra Modi for the historic inclusion of the African Union as a permanent member of the G20. The landmark announcement came during the G20 Summit held in New Delhi, India, on September 9, 2023. The G20, formerly a coalition […]

China’s Multilateral Trade with BRICS and Africa Demonstrates Significant Growth in the First 7 Months of 2023

Africa, China, News, Trade Agreements

September 5, 2023

In recent data released by the Chinese General Administration of Customs, it has been revealed that China’s imports and exports with fellow BRICS members experienced notable growth of 19.1% year-on-year, reaching ¥2.38 trillion (approximately US$330.62 billion) between January and July 2023. The BRICS, comprised of Brazil, Russia, India, China, and South Africa, have collectively strengthened […]

International Financial System Reforms Discussed to Enhance Investment in Africa

Africa, Investment and Trade Reform, News

August 18, 2023

NAIROBI – During the recent United Nations Conference on Trade and Development (UNCTAD) presidential dialogue in Nairobi, Kenyan President William Ruto emphasized the need for reforms in the international financial system. Such reforms, he highlighted, would strengthen investor trust in the African continent. President Ruto advocated for improved risk assessments for Africa, emphasizing that a […]

East African Wheat Supply Influenced by Global Trade Shifts, States WFP

Africa, International Trade, News

August 16, 2023

The International Trade Council acknowledges the recent data shared by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figures presented indicate that the United States’ trade deficit in goods and services stood at $65.5 billion in June, marking a decrease of $2.8 billion from the revised $68.3 billion reported in May. […]

Nigeria Anticipates Substantial Foreign Direct Investment Boost for Oil Projects

Africa, Energy / Natural Gas, News

August 10, 2023

Nigeria is poised to receive a significant influx of foreign direct investments (FDI) ranging from $18 to $20 billion in its oil sector, as various oil companies show renewed interest in restarting previously abandoned projects and expediting the progress of delayed initiatives. Bala Wunti, the Group General Manager of Nigerian Upstream Investment Services (NUIS), recently […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.