Archive for the ‘Africa’ Category

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

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 ÃƒÆ’Ã¢â‚¬Å¡Ãƒâ€šÃ‚Â¥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 […]

Advocating for Resilience and Integration in Sub-Saharan Africa

Africa, International Trade, News

May 2, 2023

The International Trade Council (ITC) has today highlighted concerns over potential economic implications for Sub-Saharan Africa amid escalating geopolitical tensions. In a scenario of global bifurcation into two isolated trading blocs centered around the United States/European Union and China, Sub-Saharan Africa could experience a permanent decline of up to 4% of real GDP after a […]

UK Signs Economic Partnership Agreement with Six African Nations Ensuring Trade Continuity Post-Brexit

Africa, News, Trade Agreements, United Kingdom

October 1, 2019

The International Trade Council is pleased to announce that the UK has signed an economic partnership agreement with the Southern African Customs Union and Mozambique (SACU+M). The agreement ensures continued free trade between the UK and South Africa, Botswana, Lesotho, Namibia, Eswatini, and Mozambique after Brexit. Businesses in both regions will benefit from […]

African Coffee Producers Urged to Elevate Export Value

Africa, Agricultural Trade, News

February 12, 2002

Highlighting the growing global demand for specialty coffee from Africa, the African Fine Coffees Association (AFCA) has called upon coffee traders across the continent to enhance the value of their exports and halt the shipment of unprocessed coffee to international markets. The message was conveyed during the 20th African Fine Coffees Conference and Exhibition, […]

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.