Africa Dismantling Colonial Economic Model With AfCFTA allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.
Maurice Info Search
African Continental Free Trade Area
African Continental Free Trade Area 1
0shares
Saisissez votre adresse e-mail pour vous abonner à ce blog. Rejoignez les 3 882 autres abonnés Adresse e-mail
The UK must keep shifting away from continental Europe
Even with the new deal, trade with the EU will matter less and less to Britain s prosperity
29 December 2020 • 6:00am
After four long and exhausting years, it is finally done. The UK has a trade deal with the European Union that avoids tariffs and quotas. It is one of the biggest and most significant economic partnerships struck anywhere in the world, covering trade worth more than £600bn a year.
Usually when an agreement like that is struck, the two sides would be looking to increase trade, deepen ties and figure out how to maximise the opportunities that will suddenly be available.
By Rukayat Moisemhe
Lagos, Dec. 29, 2020 Like many governments, the Nigerian government has identified industrialisation as the tool to generate tangible non-oil revenue, increase employment opportunities, and contribute maximally to GDP.
As part of government’s efforts at engendering sustainable economic recovery, some fiscal and monetary policies were rolled out, particularly to benefit Micro, Small and Medium Enterprises.
In spite of the policies, the manufacturing sector contracted by 0.43 per cent in the first quarter of 2020; by -8.78 per cent in the second quarter and by -1.51 per cent in the third quarter of the year.
Dr Muda Yusuf, Director-General, Lagos Chamber of Commerce and Industry listed the major challenges faced by the business community in the outgoing year to include liquidity crisis in the foreign exchange market, sharp exchange rate depreciation, high energy and production cost.
The African continent’s social, economic, and political resilience has been severely tested in 2020. Since the outbreak of the pandemic, African leaders have been vocal and vociferous about their long-standing grievances and the region’s status in global affairs. The deplorable treatment of Africans in Guangzhou, China, and more recently in the US that culminated in the Black Lives Matter movement has been an eye opener that threw light into deep-rooted issues of systemic racial injustice. Compounding these issues is an impending continental recession, and associated challenges of creating more, better, and inclusive jobs, and the fiscal space needed by African governments to effectively respond to the pandemic. Given these inherent challenges and an increasingly fragmented world that is fuelling protectionism and playing into nationalist narratives, African governments are reassessing their roles in the international system and rewriting the rules of engagement with external par