Senior officials and experts from Africa met in Nairobi to consider implications of new global trade architecture.
Senior officials and experts from Africa met in Nairobi this week to consider the implications of the new global trade architecture, including the advent of mega trading blocs, on the continent.
The meeting served to underscore the importance of African governments preparing themselves to more effectively participate in this new trading landscape.
Participants looked at ways to ensure that trade interests of African countries are taken into account at global and regional levels. They emphasised the centrality of the multilateral trading system and called for the conclusion of the World Trade Organisation’s (WTO) Doha Round.
With the rise of mega regionals, participants observed that African countries could face greater competition in their export markets and investment may be diverted. At the same time, they recognised that mega regionals may provide a growth stimulus for members that enhances economic opportunities for African citizens. They called for greater dialogue and the need for assistance, including aid for trade, to build their capacity to meet new trade standards emerging.
The meeting reaffirmed the importance of Africa-wide integration for mitigating any adverse impacts of the emerging global trade architecture. In one estimate by the United Nations Economic Commission for Africa (UNECA), a Continental Free Trade Area could add US$55.1 billion to intra-African trade. A more integrated continent can provide the base for greater trade success globally.
“The major priority should be to advance an integration agenda in Africa that focuses on improving trade-related infrastructure, increasing productive capacity for trade, raising standards, and reducing the costs of trade”, said one participant.
“We see this conference as one of the milestones to the WTO Ministerial Conference Kenya will host in December”, said Dr Amina Mohamed, Cabinet Secretary of the Kenyan Ministry of Foreign Affairs and International Trade in her keynote address.
Thirty-five participants attended the conference representing Ministries of Trade and Industry, standard setting bodies, regional organisations, think-tanks and academia, and the private sector from Sub-Saharan African Commonwealth members.
The conference was organised by the Commonwealth Secretariat in collaboration with the International Institute for Sustainable Development on 26 and 27 May 2015 in Nairobi, Kenya.
Outcomes of discussions will inform the Secretariat’s ongoing programme of work to strengthen member countries’ trading capacities.
