The World Trade Organization issued the text of the following remarks by Director-General Roberto Azevedo: "Good morning everybody. "Welcome to the WTO and to the 2017 Global Review of Aid for Trade. "It's great to have a full house for this very important event. I am sure we will have some dynamic and fruitful discussions over the coming days. "To start things off, we have a fantastic line-up this morning. "I am pleased to be joined today by: * "the Vice President of the Gambia, Fatoumata Tambajang, * "OECD Secretary-General, Angel Gurria, * "UNCTAD Secretary-General, Mukhisa Kituyi, * "the CEO of the International Islamic Trade Finance Corporation, Hani Salem Sonbol, * "Executive Director of the International Trade Centre, Arancha Gonzalez, * "and Senior Director at the World Bank, Anabel Gonzalez. "This is one of the biggest Global Reviews so far. "We have more than 1,500 delegates taking part from around the world. "More than 20 ministers. "And leaders from a range of international organizations. "Thank you all for joining us and for making the journey to Geneva. It is a great pleasure to host you this week. "Excellencies, "Ladies and gentlemen, "17 years ago, world leaders came together to pledge to halve extreme poverty by 2015. "They met that goal - and they did it way ahead of schedule. It remains one of the most astonishing achievements of our lifetime. And trade helped to drive much of the growth and development that led to that success. "Then, two years ago, just after the last Global Review, world leaders came together again. This time they pledged to...

TradeMark Africa and the International Organization for Migration have entered into a partnership agreement that will facilitate faster clearance of migrants at border posts. The two organizations will soon implement a border project in the Great Lakes region with roll out to other areas expected in future. The partnership will provide integrated solutions for the safe and orderly movement of people and goods across international borders. Under the partnership the organizations, in conjunction with government agencies, will provide integrated border management processes that will cover customs and standards, and also human mobility. As a trade facilitation organisation, TradeMark Africa (TMA) has enabled interventions across the 6 East African countries that contribute to boosting trade in goods and services. It has facilitated construction of 13 One Stop Border Posts and adoption of one stop controls that bring border officials from neighbouring countries under one roof, enabling those crossing the border to stop only once in the country of destination. IOM works to help ensure the orderly and humane management of migration, to promote international cooperation on migration issues, to assist in the search for practical solutions to migration problems and to provide humanitarian assistance to migrants in need. Source: Africa Business Communities

Trade minister Amelia Kyambadde has asked Ugandans to stop exporting to Rwanda goods that are not allowed there as this may spoil trade relations between the two countries. Rwandans have been accusing Ugandans of selling waragi, a local gin, to the county yet it is a banned product. Speaking at Mirama-Kagitumba One Stop Border Post (OSBP) during the signing of a cross border trade charter recently, Ms Kyambadde also asked residents to stop using illegal points. She told them to instead go through the established immigration centres and border posts. The charter details goods allowed to be traded between the two countries. “You now have an opportunity to trade across borders. Use this (OSBP) facility properly. Avoid exporting products that are not allowed across borders. You must avoid these illegal dealings to keep good relations with trading partners,” she said. Ms Kyambadde was reacting to comments by the Trade Mark East Africa country director Moses Sabiti, and the Eastern Africa Sub-region Support Initiative for the Advancement of Women Programmes director Christine Nankubuge Ndawula, who said most people fear to use the OSBP facility because of its sophistication. Ms Kyambadde said to facilitate trade across borders, the Trade ministry will build 18 border markets including one at Mirama Hills and strengthen Small and Medium Enterprises. She added that the OSBP will ease trade across the border by reducing time spent on clearing goods and decongest Katuna Border Post. Mirama Hills village chairperson Rajab Muhire said the OSBP needs to be well...

The 2017 First Quarter East Africa Trade Report issued by Maersk Line Eastern Africa - a member of A.P. Moller-Maersk - reveals that aggregate trade levels in the region have improved slightly since 2016, resulting in overall year-on-year growth of 1%. According to the company's MD, Steve Felder, in line with what was reported last year, there continues to be a noticeable disparity in performance between the two core trade corridors of East Africa. Container trade in the Northern Corridor, which serves Kenya, Uganda, South Sudan, and parts of Rwanda, expanded by 1%, whereas the Central Corridor, serving Tanzania, parts of Rwanda, Burundi, Zambia, Malawi and DRC, saw a contraction of 12%. “While conditions in the East Africa region have continued to be challenging due to political instability, ongoing macro-economic headwinds and drought conditions affecting certain countries, we’re seeing healthy competition between the two corridors, both fighting for position in terms of some of the ‘swing’ countries that could export or import cargo through either corridor, specifically Rwanda, Burundi, Uganda.” The Northern Corridor While the Northern Corridor (serving Kenya, Uganda, South Sudan, and parts of Rwanda) import market experienced year-on-year growth of 6% in the first quarter, it declined slightly (by 1%) from the last quarter of 2016, says Felder. “In Kenya, liquidity is still very tight, caused by last year’s interest rate capping on the bank lending rate. In the next quarter we are expecting to see a slowdown in the import market as we approach the Kenyan elections on 8...

The east African Securities Exchanges Association (EASEA) has commended the current developments on the regional infrastructure and tasked its technical committee to fast-track implementation of the capital markets infrastructure to provide new possibilities for investors seeking cross-border trade opportunities. This was during the EASEA 29th meeting in Nairobi, Kenya on Friday that brought together regional exchanges chiefs from Rwanda, Kenya, Tanzania and Uganda. Geoffrey Odundo, the CEO of the Nairobi Securities Exchange (NSE) that hosted the meeting, said it is crucial to strengthen the region’s financial markets to attract more investors and increase their liquidity. “An integrated market is critical for attracting foreign investors and increasing liquidity of the region’s market, and as a member of the association, CDSC therefore remains committed towards achieving this key milestone,” added the Central Depository and Settlement Corporation’s (CDSC) head of ICT, James Gikonyo. Speaking at the event, Pierre Celestin Rwabukumba, the Rwanda Stock Exchange (RSE) chief executive officer (CEO), said robust and integrated markets are key to achieve the goals of the East African region’s economic development. RSE automation Rwabukumba told the meeting that RSE was in the final stages of automation of its trading infrastructure, which will automatically be linked to the Central Securities Depository (CSD) and Real Time Gross Settlement System (RTGS) at the Central Bank of Rwanda. Last year, Rwanda launched a 10-year master plan for capital market development. The plan focuses on product development, technology and innovation, capacity building and investor education, savings mobilisation for the retail investors, and...

South Africa last week signed the agreement establishing the Tripartite Free Trade Area (TFTA) during a meeting of the Tripartite Sectoral Ministers Committee in Kampala, Uganda. The meeting was attended by the trade Ministers and officials from the Common Market for Eastern and Southern Africa (Sacu), the East African Community (EAC) and the Southern African Development Community. South Africa did not sign the agreement when it was initially launched in 2015 owing to outstanding work in some of the annexures to the agreement. All of the annexures have now been completed and adopted by the Tripartite Sectoral Ministers Committee. Trade and Industry Minister Dr Rob Davies said South Africa has been a champion of the tripartite process from the beginning and is committed to the process. “The conclusion of these negotiations will be another important step forward in the process and will provide commercial benefits to our business people by enabling them to trade products between Sacu and EAC countries at a reduced or zero tariff,” he said. The TFTA represents an integrated market of 26 countries with a combined population of 625-million people and a total gross domestic product of $1.6-trillion. Once the agreement enters into force, it will reduce the tariffs on goods traded between the tripartite countries and create new opportunities for exports as well as regional value chains. Source: Engineering News

Uganda Revenue Authority has climbed the ladder in the World Customs Organisation (WCO) hierarchy. Commissioner General URA Doris Akol’s Customs team leader, Mr. Dicksons Kateshumbwa on Monday received instruments of power from his South African counterpart, SA Revenue Services Chief Officer Customs & Excise, Jed Michaletos as the World Customs Organization East and South African Regional Group (WCO ESA) chairperson (Uganda). WCO ESA Regional Group brings together 24 countries and Uganda will represent at the WCO policy commission, Mr. Solomon Kimbugwe, a Media Management Officer at URA disclosed to TheUgandan. “This is a big step in the right direction for Uganda,” said Mr. Kateshumbwa. “The countries in ESA are united by customs administrations. The challenges and opportunities that we face are similar. We are going to see more coordination amongst ourselves so as to deal with challenges of illicit trade, challenges of terrorist financing, counterfeit marketing, technology hitches, diversion of goods and others.” Mr. Kateshumbwa, is currently at WCO headquarters in Brussels, Belgium. Uganda’a ascension on the chairmanship follows Kampala’s hosting of the 22nd World Customs Organisation East and South Africa council governing meeting in May for a two-days to discuss matters tax administration. The meeting that attracted 22 countries from East and South Africa was aimed at looking at how best customs can facilitate trade and creating a platform for countries to collaborate and fight mutual challenges within the region. Source: The Ugandan

One way to speed up Africa’s economic transformation is through deeper trade integration. Official statistics put intra-African trade at a mere 13% of the continent’s total trade. That is abysmally low. Higher volumes of intra-African trade are essential so that African countries can do business with each other more frequently and with wider margins. The merits are clear. Firms and businesses are exposed to bigger markets, new opportunities, and a larger pool of capital (including human capital) – and, ultimately, grow their turnover and returns. Consumers buy from a wider variety of products and services at a relatively cheaper cost, and attain a higher consumer welfare status. Labour benefits from skills upgrades and attractive remuneration offered by trading firms. This sets in motion a chain of other economic activities that support and spin off from regional trade. Governments also reap rewards such as a positive balance of payments, a fiscal boost from a wider tax net, and more revenue to invest in public infrastructure. This is a standard international trade position applicable throughout the world; it is therefore not surprising that regional trade deals are a core strategy in countries’ economic policies. So why are intra-African trade volumes so low and, more importantly, how can we increase it? Is it a matter of wrong or ineffective policies? Or a lack of business activity in Africa to take advantage of regional markets and build intra-African trade? I believe it is more the former than the latter, and I will explain why in...

The British prime minister has announced a multi-million pound package of support for wealth creation in Africa. Theresa May unveiled the measures at the G20 submit in Hamburg on Saturday as she called for global action to unlock the untapped economic potential of the continent. The plans include £60m to support the ability of African nations integrate into global financial markets, paving the way for the City of London to work as a hub for African finance. A further £61m will be released to boost trade infrastructure in Tanzania – including working with the World Bank to nearly double the capacity of Dar es Salaam port. Somalia will receive £30m to build a functioning civil service as it recovers from conflict and neighboring Ethiopia will get £35m to attract investment. Rwanda is set to receive £11.8m for the same ends. May said: “We must not forget that progress in Africa benefits the UK at home. “Our international aid work is helping to build Britain’s trading partners of the future, creating real alternatives to mass migration, and enhancing our security, while simultaneously ensuring we abide by our moral responsibility to meet the immediate humanitarian needs of some of the poorest people on earth. “This is the future of aid, delivering value for money for the taxpayer.” The investment is aimed at tackling the issues in Africa that slow down the continent’s growth prospects such as poverty and natural disasters like drought. It’s also includes measures such as developing insurance systems to...

Efforts are underway to create a free trade area collectively called the African Continental Free Trade Area, covering half the African continent The signing of the tripartite free trade area agreement by South Africa in Kampala has injected fresh momentum into the tripartite negotiations to create a free trade area covering half of Africa. According to a statement from the Common Market for Eastern and Southern Africa (COMESA) secretariat, this brings the total number of countries that have signed to 19. A total of 14 ratifications are required for the Agreement to enter force. Efforts are underway to create a free trade area that covers the Common Market for Eastern and Southern Africa (COMESA), Southern African Development Community (SADC) and East African Community (EAC), collectively called the African Continental Free Trade Area (CFTA), covering half the African continent. “South Africa signed the Agreement the very hour that the remaining three Annexes to the Tripartite Agreement were adopted by the Ministers following the conclusion of the ministerial meeting,” said the COMESA Director of Trade and Customs Dr. Francis Mangeni who was in the negotiating team. The meeting finalized and adopted the three remaining Annexes (on rules of origin, trade remedies and dispute settlement), thus producing the full Tripartite Agreement. While the main Agreement had been signed on 10 June 2015, six out of the 10 Annexes had by then been negotiated and cleaned up by the lawyers. Three Annexes, though negotiated, were yet to be scrubbed by the lawyers and were on...