PACCI’13: Implementing efficient trade policies top agenda

ITRealms:

At the forthcoming 2013 Pan African Chamber of Commerce and Industry (PACCI) conference top on its agenda is the implementing efficient trade policies, ITRealms can authoritatively report.

The PACCI’13 conference, ITRealms investigations revealed is being organized by African Chambers of Commerce and Industry on November 28^th and 29^th 2013, and is expected to advance the Continental Free Trade Area (C-FTA).

Confirming this, PACCI in a press statement made available to ITRealms indicates that despite the unease with free trade in many corners of the world, PACCI considers free trade to be good for development.

“Free trade can increase income levels, jobs, and bring in growth and prosperity. In all likelihood, PACCI believes that the discomfort with free trade lies not in the notion of free trade itself but how trade liberalization is pursued worldwide, too often linked with hypocrisy, guilt by association, democratic deficit and disregard for inequality,” official told ITRealms.

Equally, the conference is expected to address relevant issues to a modern trade and investment environment, from ambitious new market access opportunities to clear rules for African businesses and investors.

These include mainstreaming and implementing coherent and efficient trade policies; reducing costs and time for moving goods to destinations; creating regional and continental value chains, increasing local production and trade in goods produced in Africa; developing innovative mechanisms for multi-country infrastructure projects, e.g. energy, transport, telecom et; developing African Financial institutions/mechanisms to support intra-African trade and investment; and promoting intraregional harmonisation of regulations and factor mobility. 

Remmy Nweke

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PACCI set to host confab’13 in Addis Ababa

ITRealms:

The Pan-Africa Chamber of Commerce and Industry (PACCI) has advanced plans to host its 2013 international conference of the African Chambers of Commerce and Industry in the city of Addis Ababa, Ethiopia.

Officials of PACCI confirmed to ITRealms that the event schedule for November 28th and 29th 2013, Addis Ababa.

ITRealms also recalls that in January 2012, at the 18th African Union (AU) Summit, themed Boosting Intra-Africa Trade agreed on fast-tracking the establishment of a Continental Free Trade Area (C-FTA) by 2017, even as it was recommended by the African Union Ministers of Trade meeting held in December 2011 that PACCI holds.

Between the AU Ministers of Trade at their 2010 meeting, tasking the African Union Commission (AUC), with assistance from the United Nation Economic Commission for Africa (UNECA) and the African Development Bank (AfDB), to undertake preparatory work that would support their proposal of a Continental FTA, three key papers on boosting intra-African trade was developed on “Issue paper on Boosting Intra-Africa Trade”, “Action Plan for Boosting Intra African Trade” and “Draft Framework, Roadmap and Architecture for Fast Tracking the C-FTA.”

The AU Trade Ministers officially endorsed these papers at their December 2011 Meeting.

The papers set out a plan to boost trade by at least 25-30% in the next 10 years and to establish the C-FTA by 2017.

The C-FTA will eliminate tariffs on substantially all originating trade between C-FTA member states. Along with measures to further reduce the cost of cross-border trade, it will not only help to increase intra-African trade, but also to improve Africa’s competitiveness in the global marketplace. Ministers have agreed to a number of provisions set out in the Draft Framework, Roadmap and Architecture for Fast Tracking the C-FTA.

The Pan African Chamber of Commerce and Industry is working with the African Trade Policy Center (ATPC) of the UNECA, the AUC, and other partners; National and Regional Chambers of Commerce (RCC), Regional Economic Communities (RECs), Business Councils among others, to strengthen Africa’s capacity to advance the community’s economic well-being, and the general welfare and prosperity of African businesses.

This conference is being organized in Addis Ababa to consult a range of African business stakeholders on the role business can play in building domestic political support for the Continental Free Trade Area (C-FTA).

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