http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.84Change: -0.01
R/$ = 11.02Change: -0.07
Au 1171.20 $/ozChange: -29.02
Pt 1235.20 $/ozChange: -10.80
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 10, 2012

Trade facilitation to open up Africa’s potential - Davies

Back
Johannesburg|Africa|Industrial|Systems|Africa|Asia|USD|Building|Gross Domestic Product|Inadequate Infrastructure|Logistics|Services|Systems|Transport|Transport Services|Erich Kieck|Infrastructure|Rob Davies|Eastern Africa|Southern Africa
|Africa|Industrial|Systems|Africa|||Building|Logistics|Services|Systems|Transport||Infrastructure||
johannesburg|africa-company|industrial|systems-company|africa|asia|usd|building|gross-domestic-product|inadequate-infrastructure|logistics|services|systems|transport-industry-term|transport-services|erich-kieck|infrastructure|rob-davies|eastern-africa|southern-africa-region
© Reuse this



Africa’s economic potential as the next leading source of global economic growth could remain unfulfilled if the barriers to international and inter-regional trade were not addressed, Trade and Industry Minister Dr Rob Davies said on Monday.

Speaking at the Southern Africa Trade Facilitation conference, in Johannesburg, he pointed out that, despite Africa’s position as the second-fastest growing continent after Asia, inadequate infrastructure, the limitations of small and fragmented markets and the inadequate diversification of industrial structures, were responsible for the low levels of trade.

The World Bank’s ‘Trading Across Borders’ indice ranked Southern African countries in the lowest quartile, ranking between 136 and 164, among 183 countries.

The high costs and lengthy duration of movement of goods over Southern African borders, which reduced commerce and industry competition and discouraged trade, needed to be mitigated through efficient trade facilitation and cost-effective transport services, logistics and customs reforms.

Davies commented that the Southern African Development Community (SADC) free trade agreement (FTA), which was expected to be implemented this year, would boost inter-regional trade, as almost all tariff lines would be duty-free.

The SADC FTA, incorporating the East African Community and the Common Market for Eastern and Southern Africa, would extend through 26 countries, comprising a combined population of 600-million, and open up markets reaching a gross domestic product (GDP) of about $1-trillion.

The SADC FTA could also form the basis of an Africa-wide FTA, which would, besides others, open a market reaching a GDP of $6-trillion, deal with the small and fragmented economies in Africa, enhance the interest in foreign investment in Africa and further boost trade.

World Customs Organisation capacity building director Erich Kieck commented that the trade constraints could also be mitigated through the implementation of trade facilitation tools, such as the national single window (NSW), customs connectivity, coordinated border management (CBM), one-stop border posts and customs modernisation tools.

The NSW would connect trade-related stakeholders within a country to a single electronic data information exchange platform, while customs connectivity would link the customs management systems of countries to each other. CBM would see greater coordination between border management agencies to improve efficiency and effectiveness.

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Trade News
Updated 4 hours ago While South Africa may have the strongest reputation in Africa, the nation needed to enhance harmony with the continent’s other inhabitants to further spread the benefits of the “Africa rising” trend through boosting regional trade. Brand South Africa (SA) had been...
South African Finance Minister Nhlanhla Nene
Updated 5 hours ago US Secretary of Treasury Jacob Lew and South African Finance Minister Nhlanhla Nene met in Pretoria on Friday to discuss the state of the global economy, policies to promote regional growth and investment, and the development of trade and investment linkages between...
Updated 6 hours ago The shortfall on South Africa's trade account narrowed sharply to R2.91-billion in September from a revised R16.75-billion in August, as the import bill nearly matched that of exports, data from the revenue service showed on Friday. Exports in September rose by 18.2%...
Article contains comments
Article contains comments
Article contains comments
More
 
 
Latest News
Updated 3 hours ago The retail price of 95-grade petrol in South Africa will drop by 45 cents or 3.3 percent a liter from next Wednesday, while wholesale diesel will decrease by 4.9 percent, the government said on Friday. Petrol will cost 13.16 rand ($1.20) a liter while the wholesale...
Updated 3 hours ago Special purpose vehicle GreenCape will, by the end of 2014, make an application to the Department of Trade and Industry (DTI), the Western Cape provincial government and the City of Cape Town to declare Atlantis, on the Western seaboard, a special economic zone...
Updated 4 hours ago The German government has committed a further R70-million towards the second phase of the Non-Motorised Transport (NMT) programme. The NMT programme forms part of the Department of Environmental Affairs’ 2010 FIFA World Cup National Greening Legacy Programme.
More
 
 
Recent Research Reports
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
 
 
 
 
 
This Week's Magazine
In the next 20 years, it was expected that, in Africa, more people would live in cities and towns than in rural areas, United Nations Habitat executive director Dr Aisa Kirabo Kacyira said at the Human Settlements Indaba that took place earlier this month in...
Tough-talking Human Settlements Minister Lindiwe Sisulu has committed government to building 1.5-million low-cost houses over the next five years, telling the Human Settlements Indaba in Johannesburg on Wednesday that the State would achieve this target through the...
Over the past 20 years there has been persistent concern about deindustrialisation in South Africa, as well as the fact that locally produced manufactured products have been increasingly displaced by imports.
Financial agreement for Ghanian independent power producer (IPP) Cenpower Generation Company’s $900-million, 350 MW combined-cycle gas-turbine power plant was finalised earlier this month, paving the way for the project’s construction to begin before 2015 in Tema,...
The revenue implications for South Africa of ‘base erosion and profit shifting’ by corporate taxpayers are firmly in the crosshairs of the Davis Tax Committee (DTC) and Judge Dennis Davis hinted last week that recommendations were being considered to “detect and...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks