News
tralac’s Daily News Selection
The selection: Wednesday, 13 April 2016
Profiled tweet, @AddyNjau: Based on threats Chinese products pose to EAC market, a cost-benefit analysis on China-EAC FTA should be conducted
Featured commentary, by Bruce Byiers, Jan Vanheukelom: 'Doing regional integration differently in Africa' (EurActiv)
Launching today, in Johannesburg: Industrialisation Working Group (SABF)
The Working Group aims at strengthening and building up cross-border value chains to implement RISDP and the SADC Industrialisation Strategy. It will be constituted as a regional platform for a constant Public-Private Dialogue (PPD) to identify existing and potential regional value chains and exchange on required policies to create an enabling environment for inclusive regional value chains.
Concluding today, in Lusaka: The Commonwealth's Africa Regional Planning Workshop for its #HubandSpokesII project
Underway, in Pretoria: African Competition Forum research skills workshop, cross-country sectoral studies project
Mauritius: Defining a new strategy for economic diplomacy (Government of Mauritius)
One of the objectives of the seminar [16 April] is to find ways to give a new orientation to the country’s diplomatic strategy and to adapt to the new challenges of economic openness. The seminar is meant to be a brainstorming exercise for officers of various levels of the ministry around the new vision of the Minister for Mauritian diplomacy.
Zimbabwe - South Africa: Law to avoid double taxation gazetted (The Herald)
Legal provisions to support an agreement between Zimbabwe and South Africa to avoid double taxation have been gazetted, but legal experts say that an official statement has must be made on when the regulations will come into effect. When the double taxation regulations come into force the new agreement will replace the outdated pact between the two countries, signed in 1965. Enforcement of the law is governed by article 28 of the bilateral agreement, and will depend on when the countries complete legal procedures to bring it into force.
Implementation of Nairobi Ministerial Decision on Preferential Rules of Origin for Least Developed Countries (WTO): Document submitted by Benin on behalf of the LDC Group to the formal meeting of the Committee on Rules of Origin [22 April]. This short note aims at raising some issues:
East Africa: Rigid statutes limit regional ICT policies (Daily Nation)
The East Africa Communications Organisation report says that “regulatory bodies in Kenya and Uganda have independence in decision making,” a move that the rest of the countries ought to emulate. Decisions by Burundi’s communications regulator are subject to approval by the Office of the President. Rwanda’s regulator, on the other hand, answers to the prime minister. Decisions by the regulator could be cancelled on grounds of threat to security of Rwanda or a foreign country. Tanzania’s Communications Regulator is answerable to the minister responsible for communications who ensures rules are in compliance with the codes of conduct. EACO has, therefore, recommended that “member states should guarantee the separation of functions relating to policymaking, regulation and service provision. [Download:Workshop for Regulators and Policy Makers report]
Uganda reportedly set to confirm Tanzania as pipeline route (IPPMedia)
The Tanzanian delegation led by top ministry representatives are reported to have successfully made the country’s case for the pipeline to pass through Tanzania as a safer and more cost-effective option, despite Kenya's aggressive lobbying for the project. "The conclusion and recommendations of the Ugandan government is that the Tanzania route provides the most economic and robust option for transportation of Uganda's crude oil because of the various advantages it has over the routes through Kenya," a senior ministry official told The Guardian. "The Kaabale (Uganda)-Tanga route promotes the development of an integrated regional pipeline project for oilfields of Kenya, South Sudan, the Democratic Republic of the Congo, Tanzania, Rwanda and Burundi," the official added.
Namibia: Foreign reserves adequate for CMA agreement (New Era)
The level of foreign exchange reserves held by the Bank of Namibia has expanded significantly compared to 2014. The central bank’s latest annual report indicates that foreign reserves increased by 74.3% to N$23.6bn up from N$13.5bn in December 2014. The bank admitted though that the increase was mainly due to the successful issuance of the 10-year Eurobond, amounting to $750m during October 2015. [Total debt levels slow 14% to N$119bn]
Uganda: Status of Investment FY 2014/15 report (Uganda Investment Authority)
India registered the largest number FDI licensed projects, totaling to 65 and this accounted for 26% of all the FDI projects in 2014/15, which were 372 in number. India has been front runner as regards the number of foreign projects in Uganda since 2011. China was the second highest source of foreign projects in all the last four financial years. In 2014/2015 China contributed the largest amount of FDI planned investment ($528.9m) and this accounted for 56% of all the FDI planned investment in financial year 2014/15 ($1.4bn). The country is a front runner in source of FDI to the country when it comes to the value of investment.
Buhari: ‘Nigeria must not be a consumer market for Chinese products’ (Vanguard)
Nigeria must not be seen as a consumer market alone, but an investment destination where goods can also be manufactured and consumed locally, President Muhammadu Buhari, has said. He also ordered immediate establishment of technical committees to finalize discussions on infrastructure projects. Speaking at the opening of a Nigeria-China Business/Investment Forum, yesterday, in Beijing, capital of China, President Buhari said trade and economic relations between both countries must be mutually beneficial and reciprocal. He called on the Nigerian and Chinese business communities to work harder to reduce the trade imbalance between both countries.
Standard Bank strengthens position by connecting Africa clients (Moneyweb)
“We are committed to the growth in Africa and we have the ability to service [businesses] seamlessly across the region,” said Greg Brackenridge, CfC Stanbic Bank East Africa regional chief executive. Brackenridge was speaking at the launch of Standard Bank’s inaugural trans-regional conference on Tuesday, which hosts Standard Bank clients from South Africa, Zambia, Uganda, Kenya and Tanzania.
ECOWAS CET will enhance trade policy – Shippers Authority (Ghana Business News)
Madam Sylvia Asana Dauda Owu, Deputy Chief Executive Officer of the Ghana Shippers’ Authority, has said the implementation of the ECOWAS Common External Tariff (CET) would provide better trade policy across the sub-region. She said this would include applying special protection measures aimed at addressing any trade imbalances across Member States thereby providing a real boost to the manufacturing sector and trading in general. Mrs Afua Eshun, Advocacy Manager for Borderless Alliance, said the workshop aims at strengthening the capacity of customs officials at the border in understanding the CET and raise awareness among the private sector and cross-border traders for a better understanding of the provisions of the CET.
NEPAD to collaborate with Thomson Reuters to accelerate pace of innovation
This collaboration comes on the heels of the AU's Science, Technology and Innovation Strategy for Africa 2024 initiative, a continental strategy that aims to accelerate Africa's transition to an innovation-led and knowledge-based economy by boosting production in the science, technology, and innovation sectors. Thomson Reuters will contribute the following: i) data to assist the evaluation of key innovation indicators, ii) training to accurately evaluate these performance indicators and monitor continent-wide scientific research, iii) collaboration in producing academic research and proprietary white papers, iv) ensure the inclusion of African journal data into international indexes, making the research more visible and accessible.
Updates from NEPAD/RECs: Signing of the South Sudan Accession Treaty scheduled for 15 April, SADC/UN to strengthen collaboration on preventive diplomacy, Ibrahim Mayaki: 'No option but to innovate in the way we do the business of agriculture'
World Bank agricultural sector risk assessments: Tanzania, Ghana
OECD Committee for Agriculture: Ministerial declaration
Declare that we: Express our firm conviction that the agriculture and food system can contribute very significantly to global solutions in all these areas. We also note that while policies for food and agriculture have begun to change, international and domestic policy settings are not sufficiently aligned with emerging needs. We further note that there is a growing urgency for integrated policy approaches that will better enable farmers and the food sector to simultaneously improve productivity, increase competitiveness and profitability, improve resilience, access markets at home and abroad, manage natural resources more sustainably, contribute to global food security, and deal with extreme market volatility, while avoiding trade distortions. Welcome further dialogue under the auspices of G7, G20, APEC, WTO and other forums planned to be held in 2016 and beyond, and, finally, agree to come together again at OECD within the next five to six years to take stock of progress on implementing policies to achieve a more productive, sustainable and resilient food system. [Summary by Co-Chairs]
Global Food Policy Report calls for improved global food system (IFPRI)
Finally, the new global food system needs to be friendly toward business to encourage well-functioning markets and cooperative private sectors. Private sector investment is crucial in advancing agricultural technology and productivity and thus need to be included in the broader food policy debate. Policymakers should focus on mitigating the effects of price volatility and on creating an enabling environment for public-private partnership. Such an environment will require adequate transportation, communication, and energy infrastructure, as well as transparent financial institutions and agricultural extension services.
Latin America faces policy dilemmas post boom (World Bank)
As detailed in 'The commodity cycle in Latin America: mirages and dilemmas', the latest semi-annual report by the World Bank’s Chief Economist Office for Latin America and the Caribbean, the region is expected to contract by 0.9% in 2016. South America, which has borne the brunt of the fall in commodity prices and in Chinese growth, is expected to contract by more than 2% this year, on the back of sharp recessions in Brazil and Venezuela. However, in Mexico, Central America and the Caribbean — which depend less on commodity exports and are more closely tied to the economic recovery in the United States — growth is expected to remain positive in 2016, coming in at 2.5%.
Politics pushes more money out of South Africa (Business Day)
South Africa credit rating downgrade could hit Kenya’s new Eurobond offer (Business Daily)
India: What explains the jump in foreign exchange reserves? (Livemint)
Raghuram Rajan builds record reserves to strengthen Asia’s worst currency (Livemint)
The IMF's World Economic Outlook is posted: download
EASSI: Poor skills, lack of capital threaten women engaged in cross-border trade (New Times)
Mauritius-based investment fund acquires InterContinental Hotel Lusaka
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