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Archive for the ‘Africa’ Category

Infrastructure Africa Unveils Projects Dealroom to Boost Continental Development

Africa, Infrastructure Development, News

June 5, 2024

Infrastructure Africa, the leading business event dedicated to infrastructure development on the continent, has unveiled the Projects Dealroom. This innovative platform is designed to accelerate investment in African infrastructure projects, meeting the continent’s urgent socio-economic needs. The Projects Dealroom serves as a dynamic marketplace for project developers, investors, financiers, and other key stakeholders to […]

South Africa Launches Safeguard Investigation on Flat-Rolled Steel Products

March 4, 2024

South Africa has initiated a safeguard investigation into certain flat-rolled products of iron, non-alloy steel, or other alloy steel, as reported to the WTO’s Committee on Safeguards on February 29, 2024. In this notification, South Africa outlined the procedure for interested parties to participate in the investigation. Interested parties are required to make themselves […]

Record High West African Gasoline Imports from Europe Driven by Low Prices

Africa, Energy Trade, Europe, News

February 14, 2024

Preliminary data from Kpler reveals that West Africa is poised to receive a record 730,000 barrels per day (bpd) of gasoline from Europe this month. This surge in imports, if fully realized, would mark a remarkable increase of over 70% compared to January and represents the highest volume since tracking began in early 2017. The […]

EU and African Nations Collaborate on WTO Reform to Address Chinese Market Influence

Africa, Europe, International Trade, News

December 6, 2023

In a recent study conducted by the German Economic Institute (IW), it has been suggested that the European Union (EU) should collaborate with African countries to revamp the World Trade Organization’s (WTO) subsidy regulations. This strategic move aims to counteract market distortions caused by China’s subsidies and its diplomatic influence. The IW, a respected […]

Somalia Joins East Africa Trade Bloc as It Eyes New Opportunities

Africa, Geopolitics, News

November 24, 2023

Somalia has officially become the eighth member of the East African Community (EAC) trade bloc, a development expected to have significant implications for the region’s economy and trade opportunities. The EAC, comprising countries such as Kenya, Tanzania, Uganda, and others, has welcomed Somalia into its common market, expanding its market size to nearly 300 million […]

U.S.-Africa Trade Program Extension Proposed by Senator Coons Garners Bipartisan Support

Africa, International Trade, News, United States

November 6, 2023

In a bipartisan effort to support trade relations between the United States and Africa, Democratic Senator Chris Coons has called for a 16-year extension of a trade program that grants qualifying African nations duty-free access to the U.S. market. Senator Coons, a prominent advocate for U.S.-Africa policy, believes that extending the program is vital for […]

U.S. Trade Chief Calls for a More Effective U.S.-Africa Trade Programme

Africa, News, Trade Relations, United States

November 4, 2023

U.S. Trade Representative Katherine Tai emphasized the need for a “more useful and effective” trade programme with Africa during talks in South Africa over the future of the African Growth and Opportunity Act (AGOA). AGOA, which grants qualifying African countries duty-free access to the U.S. market, is set to expire in September 2025, with […]

Biden Aims to Enhance U.S.-Africa Trade Program, Beyond Renewal

Africa, News, Trade Relations, United States

November 2, 2023

U.S. Secretary of State Antony Blinken has highlighted the Biden administration’s intention to not only renew but also improve the African Growth and Opportunity Act (AGOA), a pivotal trade program with Africa. AGOA, initially launched in 2000, offers qualifying African countries duty-free access to the U.S. market, the largest consumer market globally. With its expiration […]

African Union Calls for a 10-Year Extension of AGOA Trade Program, Urges Postponement of Modifications

Africa, International Trade, News

November 2, 2023

The African Union (AU) is advocating for a minimum 10-year extension of the African Growth and Opportunity Act (AGOA), emphasizing the need for stability and predictability in trade relations between Africa and the United States. Speaking at a series of meetings between African trade ministers and U.S. officials, AU Trade Commissioner Albert Muchanga urged that […]

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 […]

African Nations Seek Extension of Duty-Free Access to US Markets Amid AGOA Trade Forum

Africa, International Trade

November 1, 2023

In a gathering set to commence in South Africa, the extension of the U.S. program providing sub-Saharan African nations with duty-free access to American markets is poised to take center stage at the U.S. Africa Growth and Opportunity Act (AGOA) trade forum. The forum, scheduled for the next three days, will bring together officials including […]

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 […]

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