Trade officials and experts from Commonwealth African countries gathered in Seychelles this week to discuss regional and global trade issues affecting their growth and development.
Recognizing the challenges facing world trade and the slow progress in multilateral negotiations, the meeting focused on how to improve trade and investment, boost market access for micro, small and medium enterprises (MSMEs), and strengthen regional integration following the launch of the African Continental Free Trade Agreement.
Delegates also discussed the potential for digital trade and e-commerce to transform African economies, as well as strategies to overcome infrastructure and regulatory hurdles.
Delivering the keynote address at the opening on 15 November, the Minister of Finance, Trade, Investment, and Economic Planning, Maurice Lousteau Lalanne highlighted the growing importance of the services sector, especially in expanding output and creating jobs.
Mr. Lalanne called for measures that will help MSMEs across Africa tap into international markets for their products and services. Noting the vulnerability of small economies, the least developed countries, and other developing countries, he urged further regional integration to stem the effects of external shocks.
In his remarks, Deputy Director General of the World Trade Organisation (WTO) Yonov Frederick Agah underscored the need for renewed commitment to the multilateral trading system, despite little progress to date on WTO trade talks.
The discussions were preceded by the second meeting of the Commonwealth African Trade Negotiators’ Network, an informal network of former trade negotiators from the continent.
Original source: The Commonwealth
Published on 15 November 2018