News & Analysis: Trade

The ABC triangle: Putting the AfCFTA, Brexit, and COVID-19 to work for Africa

“The entry into force of the African Continental Free Trade Agreement (AfCFTA) on May 30, 2019, the official withdrawal of the U.K. from the European Union (Brexit) on January 31, 2020, and the COVID-19 pandemic in which we are currently mired. If policymakers act fast to seize the opportunities that this ‘ABC’ triangle of events offer and reset U.K-Africa trade relations, a win-win partnership can emerge.”

via Brookings Institution

Africa free-trade vision clouded by virus and pace of talks

“AfCFTA was supposed to take operational effect on Wednesday, July 1, but the timeline has slipped, under the complications caused by the COVID-19 outbreak but also the slow pace of negotiations themselves.”

via The East African

Coronavirus: How Africa’s supply chains are evolving

“The coronavirus lockdown measures imposed by governments around the world have caused severe disruption to supply chains.”

via BBC

Africa Is More Resilient Than You Think

“Despite apocalyptic predictions, Africa may be better positioned than many think to weather the combined shock of the COVID-19 pandemic, collapsing commodity prices, and global economic recession, assuming its leaders act wisely. While African economies’ performance has varied, overall progress during the last two decades has made the continent more resilient than ever before.”

via Project Syndicate

Projecting the impact of COVID-19 on exports in Ethiopia

“Total export earnings have increased due to increases in certain commodities. It is important to ascertain if the trend continues or not to plan mitigation measures proactively. Fortunately, Ethiopia’s agricultural exports are likely to experience gradual recovery, given export destination countries are gradually re-opening their economies.”

via International Growth Centre

Pandemic highlights importance of AfCFTA

“The African Continental Free Trade Area (AfCFTA) is just the game-changer the continent needs right now. The agreement is a necessary but not exclusive factor in building economic resilience. Africa still exports raw materials and imports finished goods. Trade figures are largely padded with the intra-continental exports of finished goods from other regions.”

via African Business Magazine

Flower Industry Sees Light of Day as Europe Opens Up

“Ethiopia’s flower industry, the second-largest exporter to Europe, has started to witness a rise in demand with a total of 32.8 million dollars in revenues earned from roses and summer flowers in the last month.”

via Addis Fortune

Progress on African free trade: An interview with AfCFTA Secretary General Wamkele Mene

“‘The only economic recovery tool that we have collectively as Africans is implementation of this agreement, so that trade becomes the driver of Africa’s recovery.'”

via Atlantic Council

Lockdown without borders: Regional integration and the AfCFTA can drive Africa’s COVID-19 response

“With COVID-19 placing severe strain on economies across the continent, regional coordination can be an effective tool to manage the response and promote post-pandemic recovery. The African Continental Free Trade Area (AfCFTA), whilst delayed, has created a platform and dialogue to support this.”

via International Growth Centre

Progress on African free trade: An interview with AfCFTA Secretary General Wamkele Mene

“The African Continental Free Trade Area (AfCFTA) represents the world’s largest free-trade zone. The agreement entered into force in May 2019 and trade was meant to begin on July 1, 2020. Unfortunately, this has been delayed six months due to COVID-19, as forty-two African countries navigate full or partial lockdowns in response.”

via Atlantic Council