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Find all the economic and financial information on our Orishas Direct application to download on Play StoreThe 2021 Maritime Transport Report has highlighted the opportunities for Africa to promote the maritime trade sector. Published on November 18 by the United Nations Conference on Trade and Development (UNCTAD), this document indicates that the African Continental Free Trade Area (ZLECAf) could boost maritime trade and reduce the continent's trade deficit.
African maritime trade could perform better if States successfully implement the AfCFTA. The continental free trade area has important implications for shipping and trade in services. "The AfCFTA is expected to increase the demand for different modes of transport, including maritime transport, which will in turn increase the investment needs for infrastructure and equipment - ports and ships in the case of maritime transport", indicates the report.
Indeed, the AfCFTA agreement, under which trade began in January 2021, aims to increase intra-African trade by eliminating import duties – and to double that trade if non-tariff barriers are reduced. UNCTAD estimates that the deal could boost intra-African trade by around 33% and reduce Africa's trade deficit by 51%. It underscores the critical need to fund and develop adequate transport infrastructure and services in Africa to support maritime connectivity to fully realize the benefits of the AfCFTA.
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21/04/2022 - Secteurs
21/04/2022 - Secteurs
21/04/2022 - Secteurs
21/04/2022 - Secteurs
21/04/2022 - Secteurs