Join us at the High-Level Policy Dialogue on trade facilitation and export diversification for Africa
On Monday 22 May at 10am EST we're contributing to a High-Level Policy Dialogue, discussing how to boost trade facilitation and African export diversification.
As part of the Africa Dialogue Series 2023, our Managing Director Amb. Mohammed Belal will join the roundtable conversation, which will also include UNCTAD Secretary-General Rebeca Grynspan.
The session will respond to a policy brief on the topic, developed for the series. It highlights the importance of implementing trade facilitation measures that support export diversification and explores how African economies can achieve this.
Currently, many countries in Africa are dependent on one or two raw commodities, which makes them vulnerable to price fluctuations on international markets. In addition, this lack of diversity prevents African countries from fully participating in regional and global value chains.
By providing alternative revenue streams, export diversification has the potential to boost the economic resilience of commodity-dependent countries and enhance their ability to cope during a crisis such as the Covid pandemic. One of the key aims of the African Continental Free Trade Area (AfCFTA) is to enable access to regional value chains and create growth opportunities for small and medium enterprises (SMEs) across all sectors.
During the roundtable Amb. Belal will highlight the importance of supporting agricultural SMEs to access the finance they need to diversify their businesses and tap into higher value markets. In turn, this will enable them to provide increased security and rising incomes to their smallholder suppliers, as well as greater economic opportunity in their local communities.
The policy document makes several key recommendations designed to drive diversification across the continent:
- Identify strategic products and sectors.
- Analyse demand opportunities.
- Explore market access conditions.
- Determine strategic opportunities to ensure competitiveness.
We’re looking forward to building on these themes and sharing our expert insights at the event.
To join us, register for the session here: https://forms.office.com/Pages/ResponsePage.aspx?id=2zWeD09UYE-9zF6kFubccKqjajPjDvtMlMsCNcio6MRUQUI5WUE0UVZGQ1VENEdHUVdQUzIwMDdFQyQlQCN0PWcu