Trade Facilitation

Trade facilitation has emerged as a key factor for international trade efficiency and the economic development of countries. This is due to its impact on competitiveness and market integration and its increasing importance in attracting direct foreign investments. Over the last decade, it has gained prominence in the international political agenda which has culminated in the conclusion of the Agreement on Trade Facilitation at the WTO as well as of wide international technical assistance programs for developing and transition economies.

Citi-Africa emphasises more on trade facilitation within The African Continental Free Trade Area (AfCFTA). The AfCFTA agreement will create the largest free trade area in the world measured by the number of countries participating. The pact connects 1.3 billion people across 55 countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. It has the potential to lift 30 million people out of extreme poverty, but achieving its full potential will depend on putting in place significant policy reforms and trade facilitation measures.