News
tralac’s Daily News selection: 5 November 2015
The selection: Thursday, 5 November
In Kinshasa, the curtain falls on 10th African Economic Conference (AfDB)
"The state should play a critical role in the transformation of economies. It has to be visionary, provide leadership in planning and execution and intervene when markets fail," participants said in a joint statement issued at the end of the three-day conference held under the theme "Addressing Poverty and Inequality in the Post-2015 Development Agenda." Addressing poverty and inequality, they argued, is central to achieving Agenda 2030 and the African Union's Agenda 2063. Policymakers, donor organizations and international economic policy planners agreed that nurturing of strong and inclusive developmental states and transformational leadership were essential for planning, implementing and monitoring development programs.
Smart measures required to weather commodity boom-bust cycles (AfDB)
Governments in Africa should put into place fiscal rules, sovereign wealth funds and other mechanisms to buffer their economies from the commodities roller-coaster, according to a new report issued during the 10th African Economic Conference by the United Nations Development Programme (UNDP). The report, Primary commodity booms and busts: emerging lessons from sub-Saharan Africa, was launched at the 10th Africa Economic Conference.
AEC: news items
Mutual review of development effectiveness in Africa (ECA-OECD)
This year’s 'Mutual Review of Development Effectiveness in Africa: promise & performance' highlights the significant progress on the part of African governments and their international partners in delivering their commitments to improve political and economic governance, increase domestic resource mobilisation as well as human development dimensions. The MRDE reports provide an in-depth review of the implementation of commitments in 19 individual topics organised around four broad pillars: sustainable economic growth (industry, trade, agriculture, infrastructure, the private sector, environmental sustainability and climate change); human development (education, health, food security and gender equality); good governance (political governance, economic governance and peace and security); financing for development (domestic public resources, foreign direct investment, development assistance, external debt and climate finance).
African Economic Outlook 2016: a preview (OECD)
Consequently, while we are generally aware that urbanisation profoundly transforms African societies, too little attention is paid to cities as actors of development and structural transformation. This is all the more important in Africa’s case since what we think we know about the link between industrialisation and urbanisation is challenged both by the diversity and uniqueness of the continent’s experiences. How? So what should proactive urbanisation policies look like in such differing contexts? What is the optimal size of mega cities before the costs of congestion exceed the benefits of agglomeration? How can multi-level governance be improved? How can the power of mayors be enhanced to deal with increasingly complex challenges on the ground? These are some of the issues that we explore in the forthcoming African Economic Outlook 2016.
Continental SPS Committee operationalised (AU)
The Sanitary and Phytosanitary Committee met at the Speke Resort, Munyonyo at the margins of the commemoration of the 6th Africa Day for Food and Nutrition Security. The meeting was convened to discuss the operationalization of the Committee and finalize and agree on its working Terms of References. The specific task of the Continental SPS Committee is to promote the mainstreaming of SPS issues (food safety, plant and animal health) into the Comprehensive Africa Agriculture Development Programme (CAADP) implementation and other agriculture, trade-related, health and environmental initiatives and frameworks.
UN debate on cooperation with 'all relevant partners, in particular the private sector' (UN News Centre)
Lise Kingo, Executive Director of the United Nations Global Compact Office, introduced the Secretary-General’s report titled “Enhanced cooperation between the United Nations and all relevant partners, in particular the private sector”. The report reflected the progress made by the United Nations in achieving organizational and development goals through collaboration with the private sector. Overall, the United Nations was becoming more adept at managing the risks of partnering with the private sector, both by improving due diligence and integrity measures, and by leveraging the Organization’s reputation and power to set standards.
Ms Chanda (Zambia), speaking on behalf of the Group of Landlocked Developing Countries, underscored the importance of partnerships in the implementation of the Sustainable Development Goals, as well as the achievement of the Vienna Programme of Action for Landlocked Developing Countries for the Decade 2014-2024. As countries with special challenges and vulnerabilities, the Group required enhanced partnership to establish secure transport systems to reduce trade costs and increase competitiveness on the international market. The Group would work with the private sector through the recently launched Global Partnership on Sustainable Transport, which was an important business-led, multi-stakeholder collaboration. It would also work with the Private Sector Partnership of the Inter-Agency Secretariat of the International Strategy for Disaster Reduction.
30 finance ministers in Kampala for UN economic summit (Daily Monitor)
About 30 finance ministers from across the world have confirmed attendance of the Development Co-operation Forum high-level symposium in Kampala. The event that started on Wednesday and ends on Friday, is hosted in collaboration with the United Nations Department of Economic and Social Affairs. “Particular attention will be placed on the challenges that Africa faces as a region. Promoting technology facilitation and capacity building, and addressing gaps in technology, science and innovation will also be central to the discussion.”
LDC Ministerial Conference 2015: Operationalizing ISID for LDCs - 'the path to graduation and beyond' (UNIDO)
The ministerial meeting (26-27 Nov) will bring together over 250 participants including LDC ministers, UN agencies, regional economic communities, emerging countries’ institutions, donors and private sector entities, in order to discuss the most optimal path to graduation and innovative ways to sustain structural change and capitalize on achievements. During the different sessions it is foreseen to have an overview of the IPoA implementation process and reflect on how ISID can be an implementing tool especially in the context of the new SDGs and more specifically SDG 9.
WTO updates: LDCs welcome progress on preferential treatment for services, Technical barriers to trade: reducing trade friction from standards and regulations
South African trade and investment updates:
SA’s AGOA benefits in peril? (IOL)
An announcement in Washington DC is imminent that South Africa could lose some of its benefits under the African Growth and Opportunity Act due to repeated missing of deadlines, which could result in the loss of thousands of jobs in key sectors. US Ambassador to South Africa Patrick Gaspard told Independent Media: “There is a recommendation (from the US Trade Representative) that has been advanced in Washington and which is making its way to President Obama. As a consequence of South Africa missing the last three critical deadlines, in the next few days we can expect the White House to possibly suspend some benefits that South Africa enjoys under AGOA.”
Minister Rob Davies: status report to Nedlac on trade negotiations
Cabinet approves initial services offer to grant preferential treatment to LDCs
Parliamentary Trade and Industry Committee recommends adoption of Protection of Investment Bill
Democratic Alliance: 'ANC rams anti-investment bill through committee'
South African lawmakers say MTN fine row risks Nigeria trade ties
Western Cape premier visits China to boost trade links
Zim-Mozambique trade rises to $725m (NewsDay)
Zimbabwe’s exports to Mozambique increased to $577m last year from $369m in 2013. Imports from Mozambique declined to $148m last year from $200m in 2013. [Zim imports 70% of its fruit (NewsDay)]
SACU: Namibia's repayments clarified (New Era)
The executive secretary of the Southern African Customs Union, Paulina Elago, answers questions on SACU payments to Namibia: Can we have a figure of how much SACU has overpaid Namibia, and how is Namibia expected to pay back the money? [Namibia benefits from Kwanza currency conversion agreement (New Era)]
Botswana: Diamonds aren't forever as mining boom fades away (Bloomberg)
“While success has been had in diversifying GDP and government revenues, we have not really done that well in exports,” Keith Jefferis, the managing director of advisory service Econsult and a former deputy central bank governor, said by phone from Gaborone. “That’s the biggest structural weakness. Diamonds have reached a plateau.” [Govt requests Japan to extend minerals surveying project (Mmegi)]
Mozambique's continental, European, US, regional and bilateral trade relationships: Part 3 of the SPEED series
Rwanda: IMF completes review mission
“Policy performance through end-June 2015 was consistent with the program framework, with almost all quantitative objectives reached. Significant progress was made on structural reforms, most notably on tax policy and administration. Planned reforms of the regime for agricultural taxes and for publishing quarterly reports on budget execution, however, are taking somewhat longer than originally anticipated. Looking forward, the risks to the economic outlook have increased, in light of lower global commodity prices and weaker growth prospects in Rwanda’s main export markets. Mining activity in Rwanda has already been affected, with exports for 2015 and the near term forecast to drop substantially. This will put pressure on the balance of payments and the mission expects economic growth in 2016 to moderate to 6-6.5%, compared to 7% as previously anticipated."
Rwandan cross-border transporters lauded for embracing COMESA insurance scheme (New Times)
The yellow card scheme is a regional third party motor vehicle insurance scheme for medical expenses resulting from road traffic accidents caused by visiting motorists. It also offers emergency medical cover for the driver and passengers of foreign trucks involved in traffic accidents. Speaking at the conference, Emmanuel Hategeka, the trade and industry ministry permanent secretary, said economic integration is essential to support the private sector, improve operations and ease cost of doing business. He added that COMESA has created a favourable legal, economic, political and social environment, “which opens up tremendous opportunities for business”.
Nigeria validates AU report on banking services in Nigeria (AU)
The one-day workshop for the validation of the report on banking services and Continental Free Trade Area consultation ended today in Abuja, Nigeria. The objective was to bring together various stakeholders in the banking services sector to review the findings of the draft report and contribute to its finalization. The workshop was also an opportunity to consult on the state of implementation of the Action Plan for Boosting Intra African Trade (BIAT) and Preparations for the CFTA Negotiations in Nigeria. Mr Merah noted that the service sector could provide an alternative engine of growth, enabling some latecomers to development to “leapfrog” what has been seen as the traditional manufacturing route to development. The Services sector accounts for an average 49% of GDP in the low income countries and 47% in the LDCs.
Africa Development Forum Series: 20 in 5 (World Bank)
AU, South Africa sign Nuclear Energy Commission host agreement (AU)
SADC Protocol on Gender, Development review starts (The Herald)
COMESA and Microsoft collaborate to promote access, skills and innovation in 19 African countries
Brazil faces critical moment to put economy back on track (OECD)
OECD Secretary-General Ángel Gurría presented the Economic Survey of Brazil and the Environmental Performance Review of Brazil in Brasilia during meetings with Brazil’s Finance Minister Joaquim Levy and Environment Minister Izabella Teixeira. This follows the launch on 3 November of the new OECD-Brazil Programme of Work, which seeks to further strengthen cooperation in various policy areas.
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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)
