Softening law on foreign exchange to facilitate funding investment and trade in Africa | Tunisia News Gazette

Softening law on foreign exchange to facilitate funding investment and trade in Africa

The government is working on softening the law on foreign exchange so as to facilitate export operations towards African countries especially as this law is currently considered by economic operators as a hindrance for funding investments and foreign trade, Trade Minister Omar El Behi pointed out on Tuesday.

Chairing the opening of works of the Financing Investment and Trade in Africa Conference FITA 2018, he added that the orientation towards Africa is a necessity not a choice, highlighting the government’s support to this orientation through measures taken during the Higher Export Council meeting held on January 4.

One of the most important measures is the granting of more benefits to exports so as to help Tunisian companies access the African market, he recalled.

Besides, he indicated that the shared ambition between African peoples is to create an economic space specific to the region thus allowing free-exchange of goods and services and contributing to the creation of a development dynamic to even generate new jobs.

These trade and economic relations must be established on inter-African exchanges, he said estimating that Tunisia’s entrance in the Common Market for Eastern and Southern Africa (COMESA) next April will help offer more opportunities to Tunisia so as to promote exchange with this economic grouping that gathers some 700 million consumers.

The minister further revealed Tunisia’s increased exports towards Africa which value amounts to 3 billion Tunisian dinars. Tunisia seeks to double its exports so as to reach 6 billion dinars by 2020, he indicated.

Source: TAP news Agency

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