Building capacity to help Africa trade better

tralac Daily News


tralac Daily News

tralac Daily News

Citrus fight: SA moves to take action against EU (News24)

South Africa has taken a preliminary step toward filing a complaint with the World Trade Organisation against the European Union over its treatment of citrus imports from the country, people familiar with the situation have said. Two years ago, the EU imposed requirements for additional refrigeration of incoming fruit from South Africa to combat incidences of Citrus Black Spot, a fungal disease that leaves dark spots on fruit, and false codling moth, a pest found in South African orchards.

China is hungry for avocados, and South Africa is ready to deliver (South China Morning Post)

According to Derek Donkin, chief executive of the South African Subtropical Growers’ Association (Subtrop), the final registration of avocado orchards and packhouses is under way, with hopes that the first shipment will set off next month.”A number of South Africa’s major exporters have already set up the necessary business contacts in China to be able to export as soon as the official requirements are met,” Donkin said.

It comes at a time when the South African avocado industry is expanding – in recent years it has grown by 4,750 hectares (11,737 acres) to a total of more than 18,000 hectares. Donkin said that as the industry grows, it sees China as a huge untapped market.

The deal to export avocados to China was first signed last year when South African Minister of Agriculture, Land Reform and Rural Development Thoko Didiza met Chinese Foreign Minister Wang Yi on the sidelines of the Brics summit – an association of the five major emerging economies of Brazil, Russia, India, China and South Africa.

“Gaining access to China is a vital step in driving an export-led growth for the South African avocados,” Didiza said at the time. China looks to become one of the world’s major consumers of avocados, something which offers an immense opportunity for the South African industry, Didiza said. “This will have a multiplication effect which will have growth in employment, skills and economic development, in particular [in] the rural areas of our country where the majority of avocados are produced,” she said.

Public consultation key part of law development, but often overlooked (Engineering News)

Following last week’s withdrawal of proposed new visa regulations that would have eased the way for skilled workers to come to South Africa, business organisation Business Leadership South Africa (BLSA) CEO Busisiwe Mavuso says comments from the public and business sector are often overlooked by government.

“In the case of the visa regulations, the proposed changes were welcomed by BLSA. However, poorly conceived legislation often works its way into the lawbooks without any apparent notice of the public comments received,” she notes in her latest weekly newsletter.

Government stockpiles US$700 million ivory due to CITES trade ban; MP calls for increased hunting quotas (New Zimbabwe)

THE Government of Zimbabwe is sitting on ivory stocks worth over US$700 million due to the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) ban on trade in the resource. Zimbabwe has an ivory stockpile of 166 221.18kg from 26 906 pieces from inside and outside the parks and wildlife estate.

Environment Minister Sithembiso Nyoni told acting Speaker of Parliament recently that the human-wildlife conflict had been made complex as the animal population continued to increase over the years. “We have been responsible for keeping these and eliminating poaching at a very high cost which has allowed wildlife to grow.

Kenya fertiliser scandal newest threat to Ruto’s food agenda (The East African)

A substandard fertiliser scandal involving Kenyan officials and companies contracted by the government to supply subsidised farm input for the current planting season is threatening to wreck President William Ruto’s plan to improve the country’s food security. Tests by Kenya’s standards body found the fertiliser supplied by at least two of the companies, and some of which has been distributed to farmers across the country, was substandard.

The current probe targeting the standards body mirrors the one in 2018 when its then managing director and nine other officials were arrested and charged with attempted murder for allowing imports of substandard fertiliser containing mercury. Fertiliser subsidy programmes in Kenya have a history of being targeted by procurement and regulatory fraud due to the billions of shillings put in by the government.

Uganda taxman, small traders feud over levies halt businesses (The East African)

The dispute between the Uganda Revenue Authority and the traders in Kampala has been forwarded to President Yoweri Museveni after a two-day strike that paralysed Kampala city and other major towns of Uagnda such as Masaka, 120km southwest of the country’s capital.

The traders’ disagreement with the Uganda Revenue Authority is the taxman’s attempt to impose the electronic fiscal receipting and invoicing solution (EFRIS), which recovers the value-added tax and the traders are calling it ‘daunting” in a period of slow business activity.

The traders complain that manufacturing firms sell products at wholesale and retail prices in business centers which creates unfair competition. They also cite high interest rates that have made doing business costly; high import duties on clothing and other related goods and inflationary pressures that have made most household items expensive for the general public to purchase, hence slowing the business environment.

Coastal states see opportunity as the landlocked pay the price (The East African)

The reality, now, is that exports from East Africa, too, are getting stuck in various ports as a number of vessels suspend or delay picking of commodities due to the Houthi attacks.

Along the Northern corridor, that serves Uganda, South Sudan, Rwanda and the DR Congo, coffee and tea from Uganda and Kenya was in March stuck in warehouses as exporters experienced high cost of sea freight due to increasing demand of vessels. This is not a new problem entirely as transportation of goods is often hampered by bad roads, blocked highways from violent clashes or conflicts especially in countries such as the DRC or South Sudan. However, these often affect a particular country, rather than becoming a regional problem, and countries can often run for Plan Bs.

Since last November, the problem went beyond the region as major shipping lines stopped or temporarily halted Red Sea operations affecting the supply chain in different sea port states. As a result, there has been a delay in delivery of cargo and picking up of empty containers in ports including those in Kenya, Tanzania and Djibouti.

The cost of sea freight immediately went up by $500, on average, per container as global trade volumes decreased by 42 percent, according to a situational report by the United Nations Conference on Trade and Development (UNCTAD) report released in March. Shipping firms have raised freight costs further this week due to the ongoing attacks with no hope of ending soon.

Fishers in Madagascar adapt to deadly seas due to climate change (UN News)

The large Indian Ocean island is amongst the poorest in Africa where the majority of people make their living off the land or sea. Like many other countries in the region, it is suffering the effects of climate change. UN News’s Daniel Dickinson travelled to the village of Mokala in Anosy region where he spoke to the president of the local association of fishers, Gaston Imbola and Valencia Assanaly, the National Coordinator of the ILO’s Project Eco-Langouste Sud.

It is becoming more dangerous to fish in these waters because the winds are getting stronger and the weather is less predictable.... We used to be able to fish around 20 days a month, but with stronger more challenging winds it is now between 11 and 15.

New World Bank Initiative to Strengthen Access to Basic Services, Boosts Food Security, and Builds Resilience for Sudanese Communities (World Bank)

Sudan has experienced a relentless escalation of conflict with far-reaching consequences, causing devastating harm to individuals, social structures, infrastructure, and the economy. The United Nations reported that, since the eruption of the war in April 2023, over 8.2 million individuals have been forced to leave their homes, seeking shelter within and beyond the country’s borders.

Currently, Sudan holds the record for the largest population of internally displaced persons (IDPs) and the most significant child displacement crisis globally. Approximately 37% of Sudan’s population, about 17.7 million people, are suffering from serious food insecurity due to conflict and displacement. Trade disruptions caused by insecurity have led to reduced trade flows and increased prices, impacting rural households’ access to food. Additionally, climate-related shocks and economic challenges, including currency devaluation, and inflation, are exacerbating the crisis.

The World Bank is committed to stay engaged in Sudan and to continue to support the wellbeing of the people of Sudan. In an effort to alleviate their hardships and build resilience, the World Bank has worked hand in hand with development partners to approve the Sudan Somoud - Enhancing Community Resilience Project. The project, funded by a $130 million grant from the Sudan Transition and Recovery Support (STARS)* Multi-Donor Trust Fund, will provide funding directly to the United Nations Children’s Fund (UNICEF) and the World Food Programme (WFP), and will be implemented in partnership with international and local non-government organizations (NGOs).

Seychelles Customs enforces its Rules of Origin capacities (WCO)

Under the framework of the EU-WCO Rules of Origin Africa Programme, funded by the European Union, the World Customs Organization (WCO), in partnership with the Regional Training Center (RTC) Kenya and the Seychelles Revenue Commission (SRC), held a national training workshop on rules of origin for Seychelles Customs.

During the workshop, participants worked on key concepts for proper origin determination, related operational and procedural issues, including origin certification and origin irregularities, as well as the establishment of efficient origin management. In addition, participants discussed specific areas of concern, including the low level of knowledge and use of the FTAs and challenges linked to verification of origin including trough administrative cooperation. They also discussed recommendations for better management and implementation of rules of origin on a national and regional level.

NUPRC: Fostering A Resilient, Sustainable Upstream Oil & Gas Industry Through Sound Regulation (The Whistler Newspaper)

Since the commencement of the Petroleum Industry Act in 2021, the Nigerian oil and gas industry has undergone significant transformation. The PIA passed by the National Assembly was signed into law by former President Muhammadu Buhari. It is one of the most audacious attempts to overhaul the petroleum sector in Nigeria.

The Act provides a legal, governance, regulatory and fiscal framework for the Nigerian Petroleum Industry. Despite being a major source of revenue, the oil sector before the passage of the law had lagged behind other sectors in terms of Gross Domestic Product contribution. It is on this basis that the PIA was formulated to help facilitate Nigeria’s economic development by attracting and creating investment opportunities for local and international investors.

The PIA also created specific institutions to drive the operations of Nigeria’s petroleum sector. One of the regulatory institutions created by the PIA is the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Since the commencement of the Act, the NUPRC under the leadership of the Chief Executive, Engr Gbenga Komolafe, has taken up the statutory responsibility of ensuring compliance with petroleum laws, regulations and guidelines in the upstream oil and gas sector. The discharge of these responsibilities involves monitoring operations at drilling sites, producing wells, production platforms and flow stations, crude oil export terminals, and all pipelines carrying crude oil, and natural gas, among others.

The new dynamics in the global energy arena necessitated that Nigeria, a country that has long depended on the exploitation of oil and gas as the mainstay of its economy, re-examine its strategy to secure a blossoming energy future while meeting the global climate goals.

Nigeria, Benin Republic Customs Collaborate On Trade Facilitation (Leadership News)

The Nigeria Customs Service (NCS) and the Customs Administration of Benin Republic, over the weekend, deliberated on strategies aimed at amplifying trade activities between the two countries. In a press statement by the national public relations officer, Abdullahi Maiwada, the collaboration was also to ensure seamless implementation of recommendations previously discussed during their rendezvous in Cotonou. He said the visit was to strengthen the longstanding partnership between the two agencies

“We are cognizant of the established framework for cooperation between our respective customs administrations. This framework was established at a higher level by the authorities of the heads of State, President Patrice Talon of Benin and President Bola Tinubu of Nigeria, both expressing a desire to work together. It is upon this foundation that the Customs of both countries are united in their efforts.”

TAZARA: Boosting Operational Capabilities, Enhancing Regional Integration (Railways Africa)

In a recent interview with Railways Africa Magazine, at the Land-Linked Zambia 2024 event, Bruno Ching’andu, Managing Director of the Tanzania-Zambia Railway Authority (TAZARA), provided significant insights into the ongoing efforts to revitalise the TAZARA railway system, which is jointly owned by the governments of Zambia and Tanzania. He highlighted the strategic enhancements planned for TAZARA, aimed at boosting its operational capabilities and fostering regional integration.

TAZARA’s established strategy of integrating private operators into its network continues to bear fruit, with the signing of an Open Access Agreement with Bravo Group Ltd. This partnership is not a departure from TAZARA’s established path but an affirmation of its commitment to fostering economic growth and opening up business opportunities along the Dar es Salaam Corridor.

The benefits for TAZARA from this agreement are multifaceted. Firstly, the access fees generated will contribute to the rehabilitation and ongoing maintenance of the railway track. Secondly, the initiative will shift cargo movement from road to rail, aligning with the government’s transportation objectives. Bruno emphasises the significance of this shift, noting that even if TAZARA does not directly transport the cargo, the transition from road haulage to rail is a strategic goal that both governments are eager to see realised.

COMESA’s proposed regulations could lead to a dramatic increase in African competition enforcement (DLA Piper)

Proposed changes to the competition and consumer protection regulations for the Common Market for Eastern and Southern Africa (COMESA) – Africa’s largest market for trade and investment – could greatly expand the enforcement powers of COMESA’s Competition Commission (CCC, or the Commission) by the end of 2024

Prompted by challenges that the CCC has faced under the existing 2004 regulations, COMESA published and invited comment on a proposed draft of new competition and consumer protection regulations in January 2024. If enacted, these new regulations would replace the 2004 regulations. The comment period closed on March 14, 2024. Following several intermediate procedural steps, the proposed revisions are expected to go to COMESA’s Council of Ministers for final approval in November or December, 2024.

If approved by the council, the new regulations would dramatically increase the CCC’s enforcement powers. These changes cover several areas of antitrust and competition concern.

Use Somalia EAC entry for region’s economic renewal (Nation)

Academic and politician Ahmet Davutoğlu, a former Prime Minister of Turkey and foreign minister during the 2011 ‘Arab Spring’, emphasised historic reassessments to transform the Arab region into one of stability, freedom, prosperity, cultural revival and co-existence. The ‘Arab Spring’ had varying degrees of success, particularly in Tunisia, but his words are a poignant reminder of the aspirations for positive change.

Months after Somalia’s admission into the East African Community (EAC), his sentiments resonate with my reflections. This was a pivotal moment that will mark its progress towards economic empowerment and regional integration. It offers the Horn of Africa nation a huge opportunity for conducive environments and regulatory frameworks that bolster investor confidence and safeguard property rights. The developmental forces of technology, climate change and global economic integration become more pronounced, presenting unique challenges and opportunities for Somalia, and East Africa.

Prioritising infrastructure development, fostering partnerships with international organisations, creating an enabling regulatory framework, strengthening internal capabilities and promoting a culture of entrepreneurship and innovation are essential for successful integration into the global market.

African Development Bank President Adesina to co-chair Clean Cooking in Africa Summit with leaders of Tanzania, Norway and International Energy Agency (AfDB)

The African Development Bank Group President Dr Akinwumi Adesina will co-chair the upcoming Summit on Clean Cooking in Africa(link is external) alongside President Samia Suluhu Hassan of Tanzania, Prime Minister Jonas Gahr Støre of Norway and International Energy Agency Executive Director Fatih Birol.

An estimated four in five Africans cook their meals over open fires and traditional stoves, using wood, charcoal, animal dung and other polluting fuels. The practice has devastating impacts on health, gender equality, and the environment, with 600,000 Africans, mainly women and children, dying annually from indoor pollution.

Dr Adesina said: “Access to clean cooking isn’t merely an energy issue. It is a fundamental human right, and a promise for a healthier, and more sustainable future. The African Development Bank is committed to tackling this challenge head-on, and I am therefore pleased to co-chair the Summit on Clean Cooking in Africa alongside distinguished global leaders.”

SADC Executive Secretary to participate at the 2024 IMF and World Bank Spring Meetings and engage strategic partners in Washington D.C (SADC)

The Executive Secretary of the Southern African Development Community (SADC), His Excellency Mr. Elias M. Magosi will lead the SADC Secretariat delegation to participate at the Spring Meetings of the International Monetary Fund (IMF) and World Bank in Washington, D.C in the United States of America scheduled for 15 -20 April 2024.

The participation of the SADC Executive Secretary in this global platform that discusses emerging development issues across the world, signifies SADC’s commitment to deepening development cooperation and engagement on the international stage.

Prior to all the engagements, the Executive Secretary will meet SADC Ambassadors based in Washington DC to exchange ideas on accelerating regional development by leveraging on the Ambassadors knowledge, expertise and strategic networks in Washington DC which is a strategic hub for global economic, political, and diplomatic relations.

The SADC Executive Secretary’s visit to Washington DC comes at a time when the SADC region is mobilising support and resources for the implementation of prioritised high impact and transformative regional projects with an estimated cost of US$ 625 billion, covering the priority areas of the RISDP 2020-2030 namely, Peace, Security, and Good Governance; Industrial Development and Market Integration; Infrastructure Development in Support of Regional Integration; Social and Human Capital Development; and Cross-cutting issues of Gender, Youth, Environment and Climate Change, and Disaster Risk Management.

Uncertainty, Amidst Conflict and Indebtedness, Weighs on the Outlook for the Middle East and North Africa (World Bank)

The World Bank’s new Middle East and North Africa Economic Update, entitled Conflict and Debt in the Middle East and North Africa, shows that lackluster growth, rising indebtedness and heightened uncertainty due to the conflict in the Middle East are impacting economies across the region.

According to the report, MENA economies are expected to return to low growth akin to the decade prior to the pandemic. MENA’s gross domestic product (GDP) is forecast to rise to 2.7% in 2024, which is a tepid increase from 1.9% in 2023. As in 2023, oil importing and oil exporting countries are likely to grow at less disparate rates than 2022, when higher oil prices boosted growth in oil exporters. For Gulf Cooperation Council (GCC) countries, the 2024 growth uptick reflects expectations of robust non-oil sector activity and fading out of oil production cuts towards the end of the year. GDP growth in almost all oil importing countries is expected to decelerate.

Proposed Agoa renewal hangs on US elections outcome, say experts (IOL)

South Africa’s trade relations with the United States could get a reprieve if a new bill for an early extension of the African Growth and Opportunity Act (Agoa) for another 16 years, to 2041, enjoys majority support and is passed by the US Congress.

However, analysts say the upcoming US elections could be a big factor behind the bill to renew Agoa, as both Democrats and Republicans try to fortify US foreign policy and preferential trade agreements in case former president Donald Trump emerges victorious in November.

Stronger value chains are vital for artisanal small-scale mining (African Mining Market)

An international event is taking place in Lusaka, Zambia this week, which is aimed at improving practices in the artisanal and small-scale mining (ASM) of Development Minerals. These are minerals such as construction materials, industrial minerals and semi-precious stones the mining of which support the livelihoods of millions of people, mostly in African countries.

Being held from 15th – 17th April 2024, this forum is being held under held under the European Union (EU) and the Organization of African, Caribbean and Pacific States (OACPS, formerly ACP) Partnership Framework.

“This forum is an opportunity for stakeholders to come together to learn from good practices and innovations for a sustainable and inclusive future of artisanal and small-scale mining.” said James Wakiaga, Resident Representative, UNDP Zambia.

The forum marks the launch of Phase III of the ACP-EU Development Minerals Programme implemented by UNDP. It revisits the Mosi-oa-Tunya Declaration of 2018 on Artisanal and Small-Scale Mining, Quarrying and Development and showcases activities and practices by partners and participating countries implementing the Development Minerals Programme.

Fresh push to deepen Africa, Caribbean ties (NewsDay)

Ties between Africa and the Caribbean are set to deepen with The Bahamas set to host the 31st annual meetings of Afreximbank, the first time the event will be held in the region. Since the African Union’s recognition of the African diaspora as Africa’s sixth region, there has been a push to bolster ties between the two regions.

Afreximbank’s president Benedict Oramah said last week’s signing ceremony for The Bahamas to host the 31st Afreximbank Annual Meetings and the third edition of the AfriCaribbean Trade and Investment Forum from June 12 to 14 set the stage for an event which “will happen beyond contemplation” a few years ago.

“It will solidify the partnership between Afreximbank and CARICOM state, a union that forms the platform for global Africa to take its destiny into its own hands,” Oramah said.

How Geopolitical Changes Influencing Africa’s Unity and Development (Modern Diplomacy)

For seeking long-term influence, Russian elites have oftentimes used elements of anti-colonialism as part of its current policy to control the perceptions of Africans and primarily as new tactics for power projection in Africa. Many academic researchers and policy experts have been discussing the growth of neo-colonial tendencies, the geopolitical developments and the scramble for resources by external countries in Africa.

Connected Africa Summit: PS Tanui roots for bridging of digital divide (KBC)

ICT and Digital economy Principal Secretary Engineer John Tanui says the government has put in place elaborate measures meant to bridge the digital divide across the country.

Speaking during a meeting with media editors and stakeholders ahead of the forthcoming Connected Africa Summit 2024 hosted by the Ministry of Information, Communications and the Digital Economy, Tanui said the government is laying 100,000 kilometers of fiber optic cable as it moves to ensure that every part of the country including public institutions is connected to the internet similar to the last mile power connectivity initiative.

“9.5 million Businesses and homes in the country are connected to electricity while about 1.2 million people are connected to the internet. We want to enhance access to the internet to ensure Kenyans reap from associated benefits” said Tanui. He said the connected Africa Summit will shape the future of the country’s technology landscape setting the stage for unprecedented growth and prosperity.

The G7 Presidency partners with UNDP Africa to advance AI for sustainable development (UNDP)

The G7 Italian Presidency, in collaboration with UNDP, has concluded a series of high-level meetings with African Union (AU) senior officials, African Ambassadors to the AU, the European Union Special Representative to the African Union, and stakeholders from the private sector. The outcome of the meetings is a reinforced commitment to strengthen collaboration on Artificial Intelligence (AI) for sustainable development and collectively address challenges to ensuring access to AI for all.

The Addis Ababa meetings, conducted over two days, come at the heels of the groundbreaking consensus led by Italy with the G7 ministers in Verona, Italy, on 14 March 2024. The Verona meeting recognized the imperative of concerted collaboration between G7 nations and developing countries.

Building on the achievements in Italy through the ‘G7 Verona Process on Digital Development’, the Italian G7 Presidency and UNDP will continue their engagement to co-design an AI Hub for Sustainable Development with African leaders in 2024. This initiative will involve stakeholders from the technology industry, academia and start-ups committed to advancing the Sustainable Development Goals (SDGs).

UN to discuss how to harness data for development (UNCTAD)

The Secretary-General of UN Trade and Development (UNCTAD), Rebeca Grynspan, will lead speakers at the 27th session of the UN Commission on Science and Technology for Development (CSTD) as they examine how to leverage data to accelerate sustainable development. Ministers, policymakers, heads of international organizations and leading experts will convene in Geneva from 15 to 19 April.

They will explore what countries should do to strengthen global cooperation in science, technology and innovation to share sustainable, resilient and innovative solutions that will reinforce the 2030 Agenda and eradicate poverty in times of multiple crises.

Today data is growing in exponential terms, which is unprecedented in human history. As economies and societies become increasingly interwoven with digital technologies, data is increasingly seen as a strategic asset. When managed wisely, data can become a powerful tool in addressing global challenges, ranging from poverty eradication to climate change mitigation. The reason are two folds.

Bridging the global STI divide: identifying and addressing the technological needs of the least developed countries (UNCTAD)

Technology and innovation are powerful drivers of sustainable development and structural transformation in developed and emerging economies. Yet their potential in the Least Developed Countries (LDCs) remains under-realized, hindering the achievement of the Sustainable Development Goals (SDGs): too many countries are not on track to meet the SDGs targets within the current decade.

Technological progress brings the promise to deliver innovative solutions to address some of the most urgent challenges the world is facing today, such as food security, inequality, global health issues and climate change. These challenges transcend borders, demand a collective response, and make the imperative for global cooperation in science, technology, and innovation (STI) more urgent than ever.

Debt concerns grow as development aid shifts from grants to loans (UNCTAD)

The nature of aid also saw a significant shift, moving towards concessional loans instead of grants – a trend that could add additional fiscal strain on developing countries still grappling with the economic aftermath of the COVID-19 pandemic. The share of grants in total ODA fell to 63% in 2022, marking the smallest percentage in two decades – except for the initial year of the COVID-19 pandemic, which saw a drop to 62%.

Members discuss ways to boost developing economies’ participation in global trading system (WTO)

Presenting a new report on the participation of developing economies in the global trading system, the WTO Secretariat noted that developing economies’ trade in merchandise as well as in commercial services have recovered from the pandemic-related decline. While some types of commercial services exports proved comparatively resilient during the pandemic, travel exports in 2022 still lagged behind their 2019 level. Developing economies continue to face challenges in their participation in international trade, such as a dependence on commodity exports and higher trade costs.

New ideas tabled to advance work of information technology committee (WTO)

China introduced its new proposal (G/IT/W/58), which aims to enhance both the functioning and the relevance of the ITA. The proposal suggests regular symposiums or workshops where industry representatives and stakeholders can share the latest developments in the information and communication technology (ICT) sector and the publication of annual statistics on ICT trade. The proposal also suggests ideas on how to enhance information‑sharing on the implementation of the ITA and strengthen cooperation on non-tariff barriers.

Oil demand growing at a slower pace as post-Covid rebound runs its course - Analysis (IEA)

While we expect growth in oil consumption in 2024 (1.2 mb/d) and 2025 (1.1 mb/d) to remain robust by historical standards, structural factors will lead to a gradual easing of oil demand growth over the rest of this decade. Continued rapid gains in the market share of EVs, particularly in China; steady improvements in vehicle fuel economies; and, notably, efforts by Middle Eastern economies, especially Saudi Arabia, to reduce the quantity of oil used in power generation are together expected to generate an overall peak in demand by the turn of the decade.

Oil remains extremely important to the global economy, and across some of its key applications, alternatives still cannot easily be substituted. In the absence of additional energy and climate policies and an increased investment push into clean energy technologies, the decline in global oil demand following the peak will not be a steep one, leaving demand close to current levels for some time. Nevertheless, cooling Chinese demand growth and considerable progress on the deployment of clean energy transition technologies mean that the oil market is set to enter a new and consequential period of transformation.

Quick links

DG Okonjo-Iweala marks 30th anniversary of the Marrakesh Agreement (WTO)

Navigating the Trade Landscape (Svenskt Näringsliv)

China Continues To Dominate An Expanded BRICS (Eurasia Review)

America is mirroring China’s tech protectionism and reversing decades of free trade doctrine. Here’s why that’s bad news for U.S. leadership (Fortune)


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