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| Business with Africa. April - 2nd - 2008 |
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Dear Delegate,
African countries through their successive leaders have
viewed regionalization not only as a means to control
internal and external economic shocks but as a deliberate
effort to achieve rapid industrialization and
modernization of the continent’s economies through
expanded trading opportunities, the securing of economies
of scale and enhanced market access.
While this long held view has inevitably led to the
proliferation of several regional trading arrangements
(RTAs) not much has been achieved in terms of boosting
Africa’s trade and economic growth.
In the Eastern and Southern African region increasing
attention is turning to the issue of what effect the
regional trading arrangements with overlapping memberships
has on the formulation of external trade policy and the
attainment of the objective of building the African
Economic Community (AEC).
Regional Economic Communities (RECs) including SADC and
COMESA are seen as the essential building blocks for the
integration and economic development of the African
continent and are the most appropriate political
structures providing the most appropriate geographical
scale to implement policies aimed at transforming the
social, economic and political well-being of the African
continent.
It is pertinent to observe that COMESA as a separate REC
comprises 20 countries offering a market of more than 400
million people, while SADC comprises of 13 countries and a
200 million strong market thereby constituting an
important economic space whose rationalization and
consolidation has enormous potential to impart credibility
to trade policies in the eastern and southern African
regions.
Through the realization that Africa must play a more
active role in the volatile era of globalization, the
largest African trade blocs from southern and East Africa
are now moving closer to align and harmonize trade rules
for increased integration.
The Global Trade Matters Roundtable Discussions on Doing
Business with Africa will clarify the future of the
continent’s economic direction. And highlight the
importance of understanding the opportunities African
unity can bring upon the people of the continent and how
such changes can help your business identify new potential
markets for growth and expansion in both trade and
investment.
Ashraf Mohamed Naguib
Managing Director
Global Trade Matters
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