It is high time African countries embarked on special safeguard measures (SSMs) to protect the continent’s agriculture sector, François Kanimba, the Minister for Trade, Industry and East African Community Affairs, said Monday.
Put in place by the World Trade Organisation (WTO) that regulates international trade, the SSM is a protection measure allowed for developing countries to take contingency restrictions against agricultural imports that hurt domestic farmers.
Kanimba made the call at the opening of a week-long regional advanced trade negotiation simulation skills course for 32 English speaking African countries, in Kigali, at which participants discuss the impact of mega-regional deals on WTO processes. Read more. Source | New Times
WTO members undertook at the Agriculture Committee meeting on 7 and 8 June their first review of agricultural export policies since the Nairobi ministerial decision to scrap farm export subsidies in all developed countries. Members also exchanged questions and answers about WTO members’ farm policies.
The Committee’s review of agricultural export policies is part of the monitoring of how the Nairobi decision is being implemented. Members discussed the background WTO document (and its four addenda), which compiles information provided by members on their export subsidies, export finance support, agriculture state trading enterprises and international food aid. A paper by the Cairns group, which provided an analysis of the information, noted that the use of export subsidies had decreased dramatically over the past two decades. Read more. Source | World Trade Organization
Trade Finance and SMEs: Bridging the Gaps in Provision is a publication of the World Trade Organization that discusses the role of trade finance in helping developing countries participate in global trade. It elaborates on how trade financing is useful in assisting small businesses to grow and in supporting the development of the poorest countries. The publication also emphasizes the importance of multilateral agencies working together in responding to this issue.
Trade Finance and SMEs: Bridging the Gaps in Provision is a publication of World Trade Organization that discusses the role of trade finance in helping developing countries participate in global trade by easing the supply of credit trade potential to assist small businesses grow. It also emphasizes the importance of multilateral agencies working together in responding to this issue.
Global trade and investment rules will top the agenda for the upcoming United Nations Conference on Trade and Development (Unctad) XIV to be held in Nairobi in two months.
The meeting themed “Translating Agenda 2030 Decisions into Actions”, will take place from July 17-22 at the Kenyatta International Convention Centre.
A brief of the agenda for the conference seen by the Nation says,
This is the first Unctad conference after the adoption of Agenda 2030 and sustainable development goals in September 2015. It will, therefore, seek to operationalise the synergies that exist between various outcomes, including the 10th World Trade Organisation Ministerial Conference, COP21 on Climate Change, as well as the International Conference on Financing for Development in Addis Ababa, last year.
Read more. Source | Daily Nation
Director-General Roberto Azevêdo has issued a call for action to help close the gaps in the availability of trade finance that affect the trade prospects of small and medium-sized enterprises (SMEs), particularly in Africa and Asia.
SMEs in developing countries face the greatest challenges in accessing trade finance and there are some very large gaps in provision. The estimated value of unmet demand for trade finance in Africa is US$ 120 billion (one-third of the continent’s trade finance market) and US$ 700 billion in developing Asia. Bridging these gaps would unlock the trading potential of many thousands of individuals and small businesses around the world. Read more. Source | World Trade Organization
In his message titled ‘The WTO at 20’, director general Roberto Azevedo noted that “over the years, the WTO has helped to boost the trade growth, resolve numerous trade disputes and support developing countries to integrate into the trading system…”
However, African industries need to add value to most of the primary produce. Adding value includes, and is not limited to, packaging and labelling products, quality and standards, and safe, environmental – conscious products.
Firms in Africa nonetheless face high production costs due to poor social and physical infrastructure, including power shortages, lack of access to credit and skilled labour, among others.
Read more. Source | www.myGov.go.ke
Ugandan service providers will soon be able to render professional services to more than 25 World Trade Organisation (WTO) member countries, information from the Trade ministry indicates so.This development was agreed upon in a high level meeting of the WTO Services Council on February 5, held in Geneva, Switzerland.The meeting was convened to discuss measures which would support the growth of service trade in Least Developed countries (LDCs) through granting services exports with preferential treatment. Read more. Source|Daily Monitor