The Covid-19 pandemic continues to dramatically affect economies globally, and those in Africa even more so. The pandemic halted production on the continent and also significantly reduced trade among countries.
This has left African economies in danger of even further marginalisation as a result of the economic damage that is being inflicted on their developing economies.
The World Economic Forum (WEF) – in collaboration with Deloitte – released its white paper titled Connecting Countries and Cities for Regional Value Chain Integration, Operationalising the AfCFTA (African Continental Free Trade Area) this month in which it emphasised that the implementation of lockdowns by many states has seriously affected supply chains.
Study finds ways to boost Intra-African trade and build resilience
On 1 January 2021, the African Union launched the Africa Continental Free Trade Area (AfCFTA), the world’s biggest free trade area and Africa’s most ambitious and recent effort to liberalize trade. The World Economic Forum’s Connecting Countries and Cities for Regional Value Chain Integration – Operationalizing the African Continental Free Trade Area (AfCFTA) released this week analyses the impact that COVID-19 has had on Africa’s supply chains.
Developed by the World Economic Forum’s Regional Action Group for Africa in partnership with Deloitte, the report provides policy advice for accelerating the expansion of regional value chains in emerging manufacturing economies such as the automotive industry.
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In collaboration with Deloitte On 1 January 2021, the African Union launched the African Continental Free Trade Area (AfCFTA). This Regional Action Group for Africa report is part of a series investigating five priority pathways to drive economic recovery and build resilience in the context of the AfCFTA Agreement. It explores two priorities: first, unlocking manufacturing to mitigate global supply-chain risks; and second, leveraging integration and regional value chains. It also reviews intra-African trade and current African efforts to liberalize trade in the continent, examining how to unlock production capacity to meet local and global demands in strategic sectors, focusing on the automotive industry.
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Study Finds Ways To Boost Intra-African Trade and Build Resilience
In early 2020, the foremost chief executives, public figures, civil society representatives and experts on Africa convened to share and define a regional vision and drive action based on the region’s needs and priorities
Today, the World Economic Forum’s Regional Action Group for Africa released its first report on how policy-makers can accelerate free trade following the ambitious Africa Continental Free Trade Area
The paper reviews the impact of the COVID-19 pandemic on Africa’s supply chains and provides policy advice for accelerating the expansion of regional value chains in emerging manufacturing economies in Africa, with special focus on the automotive industry