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  • 15
    MAY

    What you should know about Africa’s massive, 54-country trade bloc

    Fifty-four African nations met on Sunday to work out an agreement on the pan-continental free trade zone.It could unite 1.3 billion people, create a $3.4 trillion economic bloc and boost trade within the continent itself.One expert says African and international investors will both benefit from the agreement, as it will make it easier for businesses to expand operations across the region.China is said to have played a role in the trade pact. China-Africa trade amounted to nearly $150 billion in 2017.

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  • 15
    MAY

    The continent’s leaders are embracing integration, while some global counterparts have turned away from multilateralism.

    In terms of the number of countries participating, the AfCFTA is envisioned as the world’s largest free trade zone since the establishment of the World Trade Organization, in 1994. The trade deal will start by cutting tariffs for goods traded within the bloc and then eventually expand into other areas.

    “This agreement underlines how Africa is moving in a different direction than other regions in the world,” Judd Devermont told CNBC. Devermont is director of the Africa Program at CSIS, a policy research organization. “The continent’s leaders are embracing integration, while some global counterparts have turned away from multilateralism.”

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  • 15
    MAY

    The future writing is on the horizon: low-cost manufacturing over the next decade will start heading to Africa, and China still needs to buy cheap and reliably produced goods.

    The IMF described the free-trade zone as a potential “economic game changer” in a May report. It said the trade deal could boost global growth but just “reducing tariffs alone is not sufficient” to achieve that goal. Devonshire-Ellis said that “implementation of the WTO’s Trade Facilitation Agreement would boost benefits even further, with an estimated aggregate real income gain of 3.5 percent, or some US$100 billion.” Ultimately, the trade agreement will push for stronger economic collaboration between neighboring countries. The hope is that more trade will help bring about better transportation infrastructure.

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  • 08
    FEB

    How to Make a Huge Impact With Multiples

    President Kenyatta said the partnership that has existed between Kenya and Djibouti has been strong and efforts were being made to make the cooperation more fruitful. The Kenyan president, who spoke after holding a private meeting with his guest, said the two nations face the same kind of challenges in a region that has for decades been ravaged by conflicts and modern forms of organized crime like terrorism. “We have talked about how to strengthen our cooperation and to secure our nations. Both our nations are in a very troubled region and we talked on how to secure the safety and prosperity of our people,” said President Kenyatta. Mr. Guelleh said Djibouti desires to strengthen its partnership with Kenya in developing the region and making it peaceful.

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