Complexity of administrative procedures and law of exchange hamper inter-African trade | Tunisia News Gazette

Complexity of administrative procedures and law of exchange hamper inter-African trade

The complexity of administrative procedures, the exchange law, the lack of information on African markets and transport and logistics networks are the main difficulties hindering the development of trade between African countries.

In order to avoid these obstacles, the participants in the forum on “Investment Financing and Trade in Africa” FITA 2018, recommended the strengthening of financing funds in Africa, the development of guarantee services and insurance, the consolidation of partnership between the public and private sectors and the creation of a guarantee fund for companies operating in Africa.

Investors called for facilitating and strengthening current payment operations, strengthening the links between countries, through the installation of efficient transport and logistics systems, reviewing the role of banks and adopting appropriate mechanisms for internationalisation of business and trade in Africa.

The speakers emphasised the continent’s potential for investment and resources to enable the economy of $ 2 trillion, provided that trade and investment measures are facilitated.

They asserted that Tunisia plays a key role in the achievement of the potential for growth in Africa as well as in the preservation of the continent’s human face, through respect for cultural and social peculiarities and universal human values.

According to data presented by the African Development Bank (AfDB), banks finance 1/3 of trade in Africa and only 20% of this funding goes to inter-African trade.

Tunisia’s trade with sub-Saharan Africa reached 646 million dinars.

Source: TAP news Agency

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