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Aid for Trade stakeholders discuss reducing trade costs for inclusive, sustainable growth

Published on July 06, 2015

In one of the side events organized in the framework of the 5th Global Review of Aid for Trade, Mr. Stephen Karingi, Director of ECA’s Regional Integration and Trade Division, was invited to speak as a panelist at a stakeholder consultation on “The Future of the European Union Aid for Trade strategy”.

Mr Karingi started his intervention by recalling some of the key findings of a joint ECA-WTO report titled “Reducing Trade Costs to support Africa’s Transformation – the Role of Aid for Trade”, which contained a detailed monitoring of Aid for Trade flows to Africa. He recalled that it is encouraging to see the increase in Aid for Trade funds to Africa, as well as the focus on countries with special needs (namely Least Developed Countries, Landlocked countries and Small Island Developing States). However, he pointed out that one source of concern from Africa’s point of view is that recent growth has not translated meaningfully into structural change and industrialization. Aid for Trade strategies should ideally contribute to redressing this situation; yet, over the 2011-2013 period, industry only accounted for 6 percent of Aid for Trade disbursements to Africa. Read more. Source | United Nations Economic Commission for Africa