Members may be interested to see the BACB’s in-depth look at Libya’s intra-African trade flows (as well as those for Algeria, Sudan, Mauritania and Cote d’Ivoire). This forms part of a BACB whitepaper entitled “Intra-African trade: a priority for Africa”, published on 16 August, which considers why many African economies centre on the export of commodities and raw materials to Europe and Asia, rather than to their immediate neighbours. The paper explores the prospects for regional integration in light of the African Continental Free Trade Area (AfCFTA) which was launched in January 2021.
British Arab Commercial Bank analyses the prospects for intra-African trade in new whitepaper
The specialist trade finance bank takes a deep dive into the challenges and opportunities surrounding African trade integration, and examines the role of financial service providers in progressing the agenda across the continent
London 16.08.2021: Intra-African trade has the potential to deliver prosperity across the African continent, according to a whitepaper launched today by British Arab Commercial Bank (BACB). However, despite the continent’s impressive economic growth achieved in recent decades, trade flows between African nations have remained low and account for just under 17% of total trade volumes.
In the whitepaper, entitled “Intra-African trade: a priority for Africa” [https://www.bacb.co.uk/news/2021/challenges-and-opportunities-of-intra-african-trade-whitepaper], the bank’s experts provide insights into why many African economies remain oriented towards exporting commodities and raw materials, and incline towards trading with Europe and Asia rather than with their immediate neighbours. The topic of intra-African trade is especially relevant in the context of the African Continental Free Trade Area (AfCFTA), launched this year with the intention of creating the largest free trade area in the world by number of countries.
BACB is an international wholesale bank with over 40 years’ experience providing international trade solutions to clients who want to trade in and out of developing markets. Based in London, BACB leverages its position in the world’s leading financial market to forge close links with the global banking community.
+44 20 7017 8422
Disclaimer: The material and information contained in this Press Release are provided for general information only and should not be used as a basis for making business or investment decisions. The Press Release contains information obtained from sources believed by BACB to be reliable, but BACB does not represent or warrant, nor accepts responsibility, as to its completeness or accuracy. If you are to rely on the information you are strongly recommended to take your own independent advice. The information may change at any time however BACB is under no obligation to update it.