Details may not equal totals due to rounding. The International Monetary Fund predicts that this growth will only accelerate—reaching around 5.5 percent for both 2014 and 2015. Facing a Foreign Trade AD/CVD or Safeguard Investigation? This means that the region will experience its first … The sub-Saharan Africa Risks Landscape report is based on data and analysis taken from two key sources: The Global Risks Perception Survey This is the World Economic Forum’s source of original risks data, harnessing the expertise of the Forum’s network of business, government, civil society and thought leaders. Research on Sub-Saharan Africa’s Unrecorded International Trade: Some Methodological and Conceptual Problems. (202) 482-5708  Agra. The office oversees implementation of the African Growth and Opportunity Act (AGOA), a trade preference program enacted in 2000 that has been at the center of U.S.-African engagement on trade … United Nations Economic Commission for Africa. A women on foot. 104 opportunities under the AfCFTA. Key International Trade Administration Initiatives, Comply with U.S. and Foreign Export Regulations. Merchandise exports1 reached nearly $24 billion in 2013, an increase of $8.8 billion since 2009. ECA’s report on Bringing the AfCFTA About highlights that the AfCFTA potentially embodies a “win-win” approach such that all countries across Africa and vulnerable communities within these countries receive benefits from the agreement. Sub-Saharan Africa has been named riskiest region in the world for business and investors due to militant violence and abuses by security forces, according to … Samuel.Weber@trade.gov  Between 1990 and 2014, as most fastgrowing countries in the world diversified their economies, most African countries instead relied on rents from extractive industries. Export Assistance Centers (USEACs) across the United States, and has a team of country experts located at Commerce Department headquarters in Washington, DC. 3) Security 4) Maintained tributary states and defended Ghana against nomadic incursions from the Sahara. But it uses a relatively small area of land – an average of 2.5 million hectares since 2010. Countries: Ghana (FCS), Côte d’Ivoire (Advocacy Center-AfDB), Cabo Verde, Guinea, Guinea-Bissau, The Gambia, Liberia, Senegal, Sierra Leone, Aaron Kirsh - International Trade Specialist A PDF reader is available from Adobe Systems Incorporated. African governments, trade stakeholders and businesses are set to discuss the future of African trade and the impact of the new African Continental Free Trade Agreement (AfCFTA) at the upcoming Africa Trade … It is projected, through the sole removal of tariffs on goods, to increase the value of intra-African trade by between 15 percent (or $50 billion) and 25 percent (or $70 billion), depending on liberalization efforts, in 2040, compared to a situation with no AfCFTA in place. The region presents real opportunity for American businesses, encompassing combined market population of over 1 billion people and GDP of more than $1.5 trillion. Commercial Service in the United States Differences in export performance and product sophistication demonstrate that across the continent there is potential for increased diversification, the creation of regional vertically integrated industries, and the development of globally competitive regional value chains. In sub-Saharan Africa, the U.S. Government has signed Memoranda of Understanding with the governments of Ethiopia, Kenya, Cote d’Ivoire, Ghana, and Mozambique. In Libya and Algeria, from at least 7000 BC, there was … AfCFTA will be a game changer for stimulating intra-African trade. The real test of the AfCFTA, however, will be how quickly African countries can accelerate export diversification and product sophistication and make trade more inclusive. 2018. In these countries, knowledge transfers to other export sectors can unlock the potential of established or emerging industries. The U.S. Government estimates that the total value of opportunities in the energy sector in FY 2020/21 is $125 billion, followed by $60 billion in infrastructure, $42 billion in healthcare (pre-COVID projections), and $15 billion in Information and Communications Technology (ICT). tralac (Trade Law Centre) is a public benefit organisation based in the Western Cape region of South Africa. Sub-Saharan Africa is one of the fastest growing regions in the world. The small scale of Africa’s intra-continental trade reflects the continent’s dependence on foreign markets for the vast majority of their trade relations. Goods exports to sub-Saharan Africa supported over 100,000 U.S. jobs in 2013. Furthermore, although the AfCFTA can address many important demand-side constraints to trade, particularly those linked to market size, supply-side constraints must also be addressed. Countries: Ethiopia (FCS), Benin, Burkina Faso, Djibouti, Eritrea, Mali, Mauritania, Seychelles, Somalia, Togo. The AfCFTA is complemented by other continental initiatives, including the Protocol on Free Movement of Persons, Right to Residence and Right to Establishment, and the Single African Air Transport Market (SAATM). Designated Federal Officer for the President’s Advisory Council on Doing Business in Africa (PAC-DBIA) intracontinental, and intercontinental levels to revitalize Africa’s educational systems and meet Africa’s health worker crisis. Looking at these fundamental factors, we believe Africa has a bright future - which is why Opera has adopted its Africa … The operational phase of the African Continental Free Trade Area (AfCFTA) was launched last week. https://doi.org/10.1007/s10887-006-9009-4. Overview 2. Fred.Stewart@trade.gov, Giancarlo Cavallo - Team Lead  Covid-19, and the world’s responses, portend a perfect storm for sub-Saharan African countries. Songwe, Vera, and Deborah Winkler. GSMA (https://bit.ly/33ZFpnl) reports that smartphone adoption is growing rapidly in Sub-Saharan Africa reaching 50% of total connection in 2020. At its peak, the U.S. imported $99.5 billion of oil and gas from the continent in 2008. Trans-Saharan trade requires travel across the Sahara between sub-Saharan Africa and North Africa. If the AfCFTA is to fulfill its potential in diversifying and transforming African economies in an inclusive manner, however, African countries must develop effective policies and strategies for exports, and identify new opportunities for diversification, industrialization, and value chain development. In the case of commodity exporting countries it supports a shift from an over dependence on commodities to higher-value added products and services.3 Economic diversification allows for more inclusion of small and mediumsized enterprises and helps encourage innovation as more markets open. The authors focus in particular on trade across intercontinental frontiers. Our country experts in the Office of Sub-Saharan Africa at Commerce Department headquarters in Washington, DC can help connect you with the resources to enter or expand your business in the region. 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