South Africa 2017 - Fast-Tracking Economic Unification

TL;DR

Panel discussion on fast-tracking economic unification in Africa through the Continental Free Trade Agreement.

Transcript

so good morning everyone and welcome to this plenary session we're very excited to welcome our esteemed panelists the title of the plenary session today is fast-tracking economic unification my name is Kenny namutoni and I am a young global leader at the World Economic Forum and a director of investment at the East Africa trade and investment hub t... Read More

Key Insights

• 🌍 Infrastructure development and market cooperation are crucial for boosting regional trade in Africa.
• 💁 Learning from successful Asian models can inform Africa's strategies for trade integration.
• 📏 The WTO provides technical support to align regional trade agreements with multilateral rules.
• ™️ Enabling SMEs through trade finance and digital platforms can foster regional trade growth.

Questions & Answers

Q: What benefits has Zambia seen from being a member of regional economic blocs and the Continental Free Trade Agreement?

Zambia has made progress in economic integration and sees the need for infrastructure development and market cooperation to boost regional trade.

Q: Can Africa learn from the Asian successful model in increasing regional trade?

Asian success lies in opening up, integration with global markets, and continuous learning and adaptation - crucial for African development.

Q: How can the WTO support the Continental Free Trade Agreement and enhance implementation?

The WTO provides technical assistance, promotes stable trading environments, and assists in negotiating and aligning regional trade agreements with multilateral rules.

Q: How can the civil service in Africa be a facilitator of trade rather than a stumbling block?

Promoting digital platforms, fostering deregulation, and enabling SMEs through trade finance are ways to make the civil service a facilitator of trade.

Summary & Key Takeaways

• Panelists discuss the importance of the Continental Free Trade Agreement in increasing intra-regional trade in Africa.

• Challenges of low intra-regional trade highlighted, with emphasis on the need for collaboration and infrastructure development.

• Strategies discussed include supporting SMEs, leveraging digital platforms, and promoting regional value chains.