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Trading Old Strategies in Pursuit of International Growth
By admin June 27, 2018

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Trade has long been considered a strategic tool to reduce poverty and increase economic growth. However, to ensure sustainable economic growth through trade, it must be improved. By combining strategies, a fully optimized trade might be possible.

One strategy was introduced by Gambia’s Vice President, Fatoumata Jallow-Tambajang, in mid-June. She noted that developing countries have not taken full advantage of globalization, and Micro, Small and Medium-Sized Enterprises (MSMEs) are the future due to MSME focus on the inclusion of women and youth. The second strategy was introduced in a report by PwC. The document proposed more efficient, high-volume and inclusive trade facilitated by large, regional ports. If regional ports become reality, the cost of African exports and imports could be cut in half as increased shipping volumes and reduced transportation cost would foster competition.

The IMF projected that Africa will see a 4% economic growth over the next 5 years driven largely by international trade. Through improved infrastructure; both for trade coming through large, regional ports and inland trade, high-volume and MSMEs trade will become possible and allow for progress towards true sustainable and inclusive economic growth.

 

For more information:

Will Africa’s New Ports Boost Trade?

African Nations Pledge to Use Trade to Reduce Poverty

Tilting Trade Towards Africa: Becoming the World’s Food-Basket

Africa’s Ports – The Bottleneck

African Ports – Strengthening Africa’s Gateways to Trade

 


Thanks for sharing !


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