EVENTS THIS WEEK

23-25 July: BRICS Summit,  Johannesburg, South Africa (Link)

24-26 July: Abuja Investment Expo 2018, Abuja, Nigeria (Link)

INTERNATIONAL

Impacts on global trade and income of current trade disputes - As tariffs are beginning to be imposed, a World Bank's team analyzed the impact of these new tariffs and the potential for tariff escalation in developing countries in a new World Bank working document. They found that the new trade tariffs will depress bilateral trade.  (19 July, World Bank)

Keywords: Global trade, World Bank, Tariffs, Bilateral Trade

UK, US officials confirm plans for trade pact in post-Brexit era - Officials from the UK and US held a series of both technical and high-level political meetings last week on trade relations post-Brexit, including the fourth session of a bilateral “Trade and Investment Working Group,” as well as leaders’ level discussions between US President Donald Trump and UK Prime Minister Theresa May. (19 July, ICTSD)

Keywords: UK, US, Trade pact, Brexit

African free-trade zone could create opportunities for Canadian exporters - As Canada moves to diversify its trade away from traditional U.S. markets, there are signs that a new African free-trade bloc could emerge as one of the targets of the revamped Canadian strategy.  (19 July, Mail and Guardian)

Keywords: African Trade Zone,Canada, Exports

G20 calls for greater dialogue on trade tensions: communique - Finance ministers and central bankers from the world’s largest economies said on Sunday that heightened trade and geopolitical tensions risk derailing global growth and called for greater dialogue, according to the final communique of a G20 meeting.(22 July, Reuters)

Keywords: G20, Trade tensions, Greater dialogue

Where is sustainable development headed? - Traditional assumptions about how to deliver development are being challenged as the world strives to implement its most wide-ranging poverty alleviation and sustainability agenda ever, according to senior figures from the globe’s financial and trade institutions. (20 July, UNCTAD)

Keywords: G20, Trade tensions, Greater dialogue

PAN AFRICAN

Examining Afreximbank’s initiative to save $400BN intra-Africa trade potential - According to analysis by the African Export- Import Bank (Afreximbank), one of the main reasons why intra-African trade is low at around 15 per cent compared to Europe (59 per cent), Asia (51 per cent ), and North America (37 per cent ) is because of lack of access to trade and market information. (20 July, Leadership)

Keywords: Afreximbank, Intra-Africa trade, Market information

Attracting investors to Africa - For Africa to attract investment to the agricultural sector, it needs a stable policy environment that allows trade to flow, according to Dr Doaa Abdel-Motaal, Trade specialist and former Deputy Chief of Staff of the World Trade Organisation. ( 20 July, Farmer's Weekly)

Keywords: Africa, Agricultural sector, Policy environment

African trade bloc urges parties to ratify free trade - The final communique released by The 20th Common Market for Eastern and Southern Africa (COMESA)  after the its 2018 summit urged the member countries to ratify the free trade agreement signed by the COMESA, East African Community (EAC) and the Southern African Development Community (SADC) regional blocs.(20 July,  Anadolu Agency)

Keywords: Africa, Comesa, Free Trade Agreement

CENTRAL AFRICA

Cameroon: World Bank approves $794.5M for the construction of Nachtigal dam - The World Bank approved an investment package of $794.5M for Nachtigal hydroelectric project (420 MW) in Cameroon. According to Elisabeth Huybens, World Bank country director for Cameroon, this investment in the clean energy sector is essential to reduce electricity cost and ensure the competitiveness of Cameroon’s economy. (20 July, Business in Cameroon)

Keywords: World Bank, Cameroon, Electricity
 

EAST AFRICA

AfDB to provide loan to Tanzania for electricity transmission line project - The African Development Bank approved on Friday 20 July 2018, a loan of US$ 123.39M to the United Republic of Tanzania to finance part of the country’s North-West Grid 400 kV Nyakanazi – Kigoma power transmission line project.The project aims to improve supply, reliability and affordability of electricity in Kigoma Region in North-western Tanzania.  (20 July, Devdiscourse)

Keywords: AfDB, Tanzania, Electricity

Rwanda, Mozambique Sign Trade, Skills Exchange Agreements - President Paul Kagame and his Mozambican counterpart Filipe Nyusi have witnessed the signing of five agreements that will help business flow and exchange of knowledge between both countries.The agreements include bilateral cooperation agreement which in near future will include, opening embassies in respective countries. Another agreement that was signed is the visa requirement which exempts visa fee for diplomats from both countries. (20 July, KT Press)

Keywords: Rwanda, Mozambique, Trade agreement

Kenya: US Tips Kenya for a free trade window post Agoa  - Kenya is a likely beneficiary of another US export window being considered to replace the Africa Growth and Opportunity Act (Agoa) after seven years, experts have hinted. Agoa, which grants the country and 40 other African states quota and duty-free access to the US market of more than 6,000 product lines expires in 2025. (20 July, The East African) Read more

Keywords: Kenya, US, Free Trade window, AGOA

AfDB doubles funding for Kenya electricity access - State owned power utility company, Kenya Power will see its funding for the last mile connectivity project doubled as the African Development Bank (AfDB) extends its support towards the government – driven initiative for universal connectivity by 2020. (21 July, APA )

Keywords: AfDB, Kenya, Electricity

NORTH AFRICA

ICTSI wins 20-year concession for Port Sudan terminal - Philippines-based port operator International Container Terminal Services (ICTSI) has won preferred-bidder status to operate and develop Port Sudan's South Port Container Terminal. Sudan's ports corporation selected ICTSI to run the terminal under a new 20-year concession. (19 July, The Maritime Executive)

Keywords: Sudan, Philippines, Port  

Egypt, Russia trade exchange hit $ 2.7BN between January-May 2018 - Trade exchange between Egypt and Russia hit 2.775BN dollars during the first five months of 2018, recording an increase of 31.5 percent in comparison with the same period in 2017, the Trade Representation Office of the Russian Federation in Egypt reported on Saturday.   (21 July, Egypt Today)

Keywords: Egypt, Russia, Trade exchange

Sudan to re-open trade points with Chad and Libya - Governor of North Darfur State al-Sharif Mohamed Abbad said arrangements are underway to re-open trade points with Chad and Libya. The semi-official Sudan Media Center (SMC) has quoted Abbad as saying Minister of Commerce Hatim al-Sir Ali would visit North Darfur next week to re-open the trade points, stressing that borders with Libya and Chad are safe and protected. (22 July, Sudan Tribune)

Keywords: Sudan, Chad, Libya,Trade points

SOUTHERN AFRICA

South Africa seeks to strike trade balance at BRICS Summit - The South African government will be working to tackle the trade imbalance and also address complementary trade between it and its Brics partners at the crucial upcoming Summit next week, officials said on Thursday. (19 July, Engineering News) ..

Keywords: South Africa, Trade balance, BRICS

BRICS presidency positions South Africa at nexus of multilateral discussions - South Africa’s prospects for economic growth and job creation depend increasingly on diversifying and strengthening its economic links with the fastest-growing economies of the world – especially the emerging economies of the BRICS nations.(19 July, Business Report)

Keywords: South Africa, Economic growth, BRICS

Zambia: AfDB approves $50M for renewable energy - The African Development Bank (AfDB) has approved a $50M framework financing for renewable energy projects in Zambia. In an effort to address severe electricity shortages, the Zambian government launched the Renewable Energy Feed-in-Tariff (REFiT) strategy in 2017.(20 July, Africa Oil and Power)

Keywords: Zambia, AfDB, Renewable energy

Zambia goes for enhanced intra-Africa trade - Zambia will step up its efforts in promoting peace and co-existence among Common Market for Eastern and Southern Africa (COMESA) member states to enhance commerce and trade in Africa, President Edgar Lungu has said . ( 20 July, Zambia Daily Mail)

Keywords: Zambia, Intra-Africa trade, President Lungu
 

WEST AFRICA

Sierra Leone: $2M USAID boost for energy - The United States Agency for International Development (USAID) has pledged $2 million towards Sierra Leone’s energy revolution as part of an international energy cooperation scheme. The money will go towards Sierra Leone’s solar energy project, the Ministry of Foreign Affairs and International Cooperation said Thursday. (20 July, APA)

Keywords: Sierra Leone, USAID, Boost for energy

AfCFTA: Study shows Nigeria may lose out - A professor of Economics at the University of Ibadan and the Chairman, Centre for Trade and Development Initiatives, Bodija, Ibadan, Ademola Oyejide, has conducted a study on an analytical comparison between two major countries in Africa yet to sign the African Continental Free Trade Area Agreement – Nigeria and South Africa – and concluded that Nigeria would be a bigger loser in the free trade agreement than South Africa. (20 July, The Punch)

Keywords: AfCFTA, Nigeria, South Africa