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tralac’s Daily News selection: 8 October 2015
The selection: Thursday, 8 October
Pascal Lamy, José María Figueres, Oby Ezekwesili : ‘A fish called development’ (Policy Innovations)
When political leaders meet at the 10th WTO Ministerial Conference in Nairobi in December, they will have an opportunity to move toward meeting one of that goal's most important targets: prohibition of subsidies that contribute to overfishing and illegal, unreported, and unregulated fishing by no later than 2020. This is not a new ambition; it has been on the WTO’s agenda for many years, and it has been included in other international sustainable development declarations. But, even today, countries spend $30bn a year on fisheries subsidies, 60% of which directly encourages unsustainable, destructive, or even illegal practices. The resulting market distortion is a major factor behind the chronic mismanagement of the world's fisheries, which the World Bank calculates to have cost the global economy $83bn in 2012.
Charles Onyango-Obbo: 'WTO meet heads to Nairobi: It could be Africa’s moment of glory...or disaster' (The Citizen)
So come December, the world will be watching Nairobi. If the WTO meeting ends in chaos and with no deals, you can expect to read about “in the end, it was impossible to reach to reach agreement in Africa’s sweltering heat”.
Roberto Azevêdo welcomes G-20 Ministers’ support for significant Nairobi outcome (WTO)
Remarks by Roberto Azevêdo to G20 Trade Ministers meeting (WTO)
Dubai Chamber study explores untapped Islamic economy potential of the African market (Dubai Chamber)
Launched in association with the Economist Intelligence Unit, the highlights pointed to the growing demand in Kenya, Ethiopia and South Africa markets for Islamic finance products and banking instruments in asset management and takaful sectors. It further revealed that the African region needs somewhere near $98bn a year to fund its infrastructure needs. Sukuk lends itself well to Africa’s infrastructure gap, it said. The study will be fully published during the Africa Global Business Forum in Dubai next month.
Kenya to host first East Africa Islamic Finance Summit
WIPO African ministerial should embrace a pro-competitive and pro-development IP vision (ICTSD)
An African ministerial meeting, organised by the World Intellectual Property Organization (WIPO) and the Japan Patent Office (JPO), to be held in Senegal next November 3-5 should embrace a balanced and development-oriented approach to intellectual property. Such an approach ought to take into account the needs, priorities and socio-economic circumstances of African countries as well as the most recent empirical evidence on the dynamics of intellectual property and innovation on the continent. [The authors: Ahmed Abdel-Latif , Dick Kawooya, Chidi Oguamanam]
Concluding, today: Trade Policy and Sustainable Development Forum (UNCTAD)
The United Nations Conference on Trade and Development will organize its Trade Policy and Sustainable Development Forum for developing countries, particularly for African countries, from 6 to 8 October 2015. It will bring together senior trade and development policymakers, trade negotiators, experts, academia and other stakeholders to examine the role of trade policy in reaping developmental benefits from trade and improving the welfare for the population in the post-2015 development context.
Mauritius eyes maritime projects, Africa links to boost growth (Reuters)
Mauritius has a deal with a Chinese firm to develop a $113m fishing port and is working with investors on plans to become a maritime hub for Africa, part of its bid to accelerate growth, the island nation's finance minister said on Thursday. Such [BOTT] deals usually leave a project in private hands for 20 or more years before it is transferred back to the state. The minister said the term of this plan had yet to be finalised. The quay and related facilities, worth 4 billion rupees ($113 million), would handle up to 20 vessels at a time on completion in 2018, he said. A Mauritian official said the developer was China's LHF Marine Development Ltd.
Fuad Cassim: 'State and private sector must shift attitudes to spur growth' (Business Day)
In conclusion, some lessons can be drawn from the Indian experience, despite the different context. The primary reason for choosing India as a comparative experience is because of the distrust that existed between the private sector and the government. A similar situation prevails in South Africa.
Driving SA's industrial development agenda: call for papers (ERAN, dti)
This highlights a need to assess how existing policy instruments and incentives (and their application) currently contribute to the creation of an enabling environment in support of the objectives of increased productive capacity and inclusive growth. This includes fiscal incentives, preferential procurement and localisation, technical regulations, technology transfer, Rand D support, skills development, trade, investment and market development support. ERAN is therefore hosting a conference entitled Driving South Africa’s Industrialisation Agenda to explore some of these issues and draw practical lessons on improving the economic landscape in South Africa. ERAN is structured around four key thematic working areas, which determine the key focus areas for the conference:
Economic policy low on agenda at ANC council (Business Day)
Zimbabwe: Regional currencies depreciation exposes local industries (The Herald)
Zimbabwe's manufacturers say the continued depreciation of regional currencies is worrying as it further exposes local industries to the threat of cheap imports. Dairibord Holdings chief executive officer Mr Anthony Mandiwanza said the loss of value of the South African rand and the Zambian kwacha against major currencies, particularly the United States Dollar, makes local producers uncompetitive. Zimbabwe’s use of the US dollar pushes up operating costs which feed into the pricing structures of goods produced locally. This makes products manufactured in the region cheaper and makes Zimbabwe the destination for producers from neighbouring countries.
Zim to face international creditors (Financial Gazette)
An International Monetary Fund official has said Zimbabwe’s debt situation will be tabled before creditors at a side meeting of the IMF/World Bank annual meetings to be held in Peru from Friday. Christian Beddies, IMF resident representative in Zimbabwe, told the Financial Gazette’s Companies & Markets: “All of Zimbabwe’s creditors, multilateral and bilateral, have been invited to the (side) meeting”.
Tension rising over depleting Kariba waters (Financial Gazette)
Angola creates Customs Risk Management Centre (MacauHub)
The government of Angola will create a Customs Risk Management Centre to share information between agencies involved in trade with foreign countries, the Minister of Trade said in Luanda. Minister Rosa Pacavira, who was speaking at a seminar on trade facilitation, said the aim of creating the Risk Management Centre was to ensure intelligent risk management when imports arrive in Angola. The creation of the Centre is part of a programme for ratification of the Trade Facilitation Agreement, of the World Trade Organization, which calls for elimination of physical inspections of shipments that include goods that pose no risk and have no tax burden.
Government laments trade imbalance between Zambia, South Africa (The Post)
Commerce minister Margaret Mwanakatwe says Zambia needs to increase its exports to South Africa in order to reduce the negative trade imbalance between the two countries. And South African High Commissioner to Zambia Sikose Mji has observed that trade and investment are the most dynamic aspects in regional integration efforts.
Textile manufacturing becomes costly in Zambia (YNFX)
With continuous depreciation of Zambian currency, textile makers are finding it too costly to import raw materials in Zambia as it would increase the cost of production, said Ajit Desai, managing director of Kariba Textiles. The blankets are manufactured by using materials like acrylic yarn and fibre, which are not produced in the local market thereby making it costly to manufacture blankets in Zambia, he said.
Rwanda to host world's first 'drone airport' (New Times)
The government has moved to set up a regulatory framework for remotely piloted aircraft, popularly referred to as ‘drones,’ following investor interest to establish the world’s first drone airport (drone port) in the country beginning next year. Last month, Norman Foster, a renowned British architect, expressed interest by his firm, Foster + Partners, alongside business partners to build the world’s first drone port in the country to facilitate transport of urgent medical supplies and electronic parts to remote parts of the region using drones. In their proposal, the investors said, beginning next year, they intend to begin construction of three drone ports, which will take about four years to complete.
JK: Kenyan projects in Tanzania now worth $1685m (IPPMedia)
“For us in Tanzania, Kenya is not a competitor but a strategic partner. Kenya ranks fifth in the Top Ten list of countries with the largest investments in Tanzania. Kenya comes after only United Kingdom, United States, China and India. Actually, in that Top Ten List, there are only two African countries namely Kenya and South Africa, on which Kenya is the leader. Kenya’s investments in Tanzania account for 518 projects with the total value of USD1,685.47m and have created about 55,762 jobs.”
Broadening the sources of growth in Africa: the role of investment (UNCTAD)
A new UNCTAD Policy Brief argues that enhancing the contribution of investment to the growth and development process in Africa will require three complementary policy measures: boosting the level and rate of investment; improving the productivity of new and existing investment; and ensuring that investment goes to strategic sectors deemed crucial for economic transformation and the realization of national development goals.
Study on gender and inclusive growth: EOI (AfDB)
Under the supervision of the Special Envoy on Gender, the incumbent is expected to perform, inter alia, the following duties: Conduct the study on Gender and Inclusive Growth using evidence from a sample of African countries and will provide evidence to inform the design of future AfDB policy dialogue and development assistance to RMCs aimed at enhancing growth that leaves no one behind.
Global Monitoring Report 2015/2016: development goals in an era of demographic change (World Bank)
According to the Global Monitoring Report 2015/2016: Development Goals in an Era of Demographic Change, released in Peru at the start of the Annual Meetings of the World Bank and the IMF, the world is undergoing a major population shift that will reshape economic development for decades and, while posing challenges, offers a path to ending extreme poverty and shared prosperity if the right evidence-based policies are put in place nationally and internationally.
Donor support to local private sector development: concept paper and methodology for research (OECD)
Current activities also include a peer learning exercise on donors working with and through the private sector. As part of the deliverables for the DAC’s Programme of Work and Budget 5.1.3.3.1, this paper presents a proposal on examining donor support for local private sector development, a topic that has drawn significant attention in numerous DAC discussions. [Prepared for the OECD's Advisory Group on Investment and Development, 14-15 October 2015] [Companion analysis: Private sector engagement and development - deepening private sector engagement in aid for trade (Chapter 7 in Aid for Trade at a Glance 2015)]
How fiscal policy can tame the commodities roller coaster (IMF)
Slump hits Kenya’s private sector on weak shilling (Business Daily)
Namibians urged to invest in Congo (The Namibian)
Kenya-Russia to strengthen trade ties (The Citizen)
Turkish business delegation in Namibia to explore opportunities (StarAfrica)
Environmental crimes change face of Sub-Saharan Africa (Bloomberg)
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This post has been sourced on behalf of tralac and disseminated to enhance trade policy knowledge and debate. It is distributed to over 300 recipients across Africa and internationally, serving in the AU, RECS, national government trade departments and research and development agencies. Your feedback is most welcome. Any suggestions that our recipients might have of items for inclusion are most welcome. Richard Humphries (Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Twitter: @richardhumphri1)
