Category: Trade

LOGIS-TRADE NEWS 001

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We are delighted to present the first issue of our new periodical publication that provides an ‘Overview of Trade News in Africa’. Our goal is to keep you informed about the most important developments and emerging trends shaping Trade on the continent. In each issue, we will offer you a summary of essential information: Major trade agreements Significant sector developments Progress in regional economic integration Changes in trade policies Challenges and opportunities for African trade AfCFTA news Whether you are a trade professional, an investor, a policy maker, or simply…

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Abidjan-Lagos Road Corridor: ECOWAS Takes a New Step with a Validation Workshop on Trade and Transport Facilitation

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The ECOWAS Commission organized a three-day technical workshop to review an interim report on the trade and transport facilitation study for the Abidjan-Lagos road corridor development project. This workshop, held from June 27 to 29, 2024, in Lomé, brought together representatives from member states, regional and international institutions, as well as development partners, to review progress made and agree on a framework for the smooth movement of goods, services, people, and vehicles along the corridor. The main objective of the workshop was to validate the interim report and gather feedback…

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ECOWAS Strives to Revitalize Regional Trade with its New Common Trade Policy

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From July 9 to 11, 2024, Abuja, the Nigerian capital, hosted a crucial meeting of the ECOWAS Technical Working Group on the Common Trade Policy (CTP). This gathering, which brought together trade experts at regional and national levels, aimed to review and amend the CTP draft, an initiative following recommendations from meetings of experts and Ministers of Trade and Industry held in Abidjan last year. The main objective of this meeting was twofold: to finalize the CTP draft and develop its strategic action plan. Once ready, these documents will be…

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TUNISIA HAS ISSUED 93 CERTIFICATES OF ORIGIN FOR THE AFRICAN CONTINENTAL FREE TRADE AREA (AfCFTA) AGREEMENT

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Tunisia has issued 93 certificates of origin for the African Continental Free Trade Area (AfCFTA) agreement to export chemical products, agri-food products, and semi-automatic machines to several African countries, primarily Cameroon, Ghana, Tanzania, and Mauritius, according to Bochra Lejmi, Director of Economic and Commercial Cooperation with Africa at the Ministry of Trade and Export Development. In a statement to TAP Agency, the official specified that the chemical products exported to these countries include resin, chemical fertilizers, quicklime, and hydrated lime, as well as agri-food products such as cheese and mustard.…

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Afreximbank Academy to host training programme to assist African Corporates to benefit from the African Continental Free Trade Area (AfCFTA)

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Scheduled to run from 9 to 13 September 2024 in Cairo, Egypt, the training programme which will be delivered in collaboration with the American University in Cairo and the AfCFTA Secretariat will focus on the business implications of AfCFTA African Export-Import Bank (“Afreximbank”) (www.Afreximbank.com) is pleased to announce the launch of an innovative capacity development program designed to empower African corporates to capitalise on the opportunities presented by the African Continental Free Trade Area (AfCFTA). This initiative, spearheaded by Afreximbank Academy (AFRACAD) in collaboration with the AfCFTA Secretariat, aims to…

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Afreximbank and BSMART Technology Ltd expand the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS) to cover container deposits and customs bonds in East Africa.

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African Export-Import Bank (Afreximbank) has signed a facility agreement with BSMART Technology Ltd expanding the Afreximbank African Collaborative Transit Guarantee Scheme (AACTGS) to cover the issuance of container deposit guarantees and customs bonds in the East African Community (EAC) region. Under the terms of the agreement, signed at the just-concluded Afreximbank Annual Meetings (AAM2024) in Nassau, The Bahamas, Afreximbank will issue container guarantees to shipping companies on behalf of BSMART Technology Ltd. On its part, BSMART Technology Ltd will process Bills of Lading and release containers to container users (importers…

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The Arab Africa Trade Bridges (AATB) Concludes its 4th Board of Governors Meeting with Landmark Agreements to Enhance Arab African Trade and Cooperation

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Milestone Agreements Forge New Paths in African-Arab Trade Relations The Arab Africa Trade Bridges (AATB) Program announces the successful conclusion of its 4th Board of Governors (BoG) Meetings, held alongside with the Tunisia Africa Business Meeting (TABM) from 2 July 2024, in Tunis, Tunisia. This event marks a milestone in advancing trade, economic cooperation, and regional integration between Africa and the Arab world. The 11th Executive Committee Meeting which was held on 1st July featured high-level sessions focused on areas such as agricultural sustainability, food security and the economic empowerment of…

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Trade between Africa and the Caribbean could reach US$1.8 billion by 2028

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According to a joint study by the International Trade Centre (ITC) and the African Export-Import Bank (Afreximbank), annual trade between Africa and the Caribbean could reach US$1.8 billion by 2028, more than double its current value. This promising growth is conditional on the implementation of key measures such as reducing tariffs, improving logistics and promoting the processing of local value-added products. The study, conducted as part of the “Strengthening Afro-Caribbean Trade and Investment” project, highlights the immense opportunities that exist between the two regions, underlining that current trade accounts for…

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Deployment of SIGMAT: Meeting of Customs Directors General of the Abidjan-Lagos Corridor

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On June 24 and 25, 2024, Lomé, the capital of Togo, hosted a crucial meeting of the Directors General of Customs from the member states of the Abidjan-Lagos Corridor (Benin, Côte d’Ivoire, Ghana, Nigeria, and Togo). This meeting, focused on the deployment of the Interconnected Transit Goods Management System (SIGMAT), was held under the auspices of the ECOWAS Trade Liberalization Scheme Task Force. Placed within the framework of implementing the recommendations from the high-level ministerial meeting held in Cotonou in October 2023, this event aimed to explore solutions to overcome…

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Afreximbank and the World Trade Organization (WTO) Secretariat harmonize efforts to develop trade in Africa

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The MOU will afford the Bank and the WTO Secretariat the opportunity to expand and deepen their collaboration to support the cotton sector beyond the C4+ countries Today, African Export-Import Bank (Afreximbank or “the Bank”) (www.Afreximbank.com) signed a Memorandum of Understanding (MoU) with the World Trade Organization (WTO) to amplify the impact of their strategically aligned joint efforts of promoting global trade leveraging Africa’s unique resource endowment. The MoU will allow the two organizations to pursue a collaborative framework for harmonizing and coordinating their efforts towards deepening key trade development…

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