Tag Archives: Trade
Trade: Latest News
Staff, 1:01 am
Visas are routinely denied by U.S. embassies without explanation. With the heightened attention on foreign travelers coming to the U.S., there have been stories of more visas being denied to people from countries not named in the Trump administration’s travel ban executive order. If there has been an increase in the number of visas rejected under the new administration, it’s hard to verify. The State Department data made available to the public ended in late 2016.
Opinion: Trump’s ‘America First’ Policy An Opportunity For China To Access AGOA, US Markets By Manufacturing In AfricaBy Dana Sanchez, 9:52 am
The main target of Trump’s America First policy is China, the world’s top industrial exporter. China has positioned itself as the world’s factory. Africa does very little trade with the U.S. and is no threat to U.S. jobs. Because China is Africa’s biggest export market, the America First policy will hurt Africa. The export-oriented China creates wealth by exporting manufactured goods to the U.S. and other Western markets. China can circumvent Trump’s efforts by relocating some of its manufacturing to Africa to take advantage of AGOA and access the U.S. market through Africa.
Staff, 12:55 pm
To fulfill its economic potential, Africa must industrialize and it’s well suited to do so. The question is how. The economic growth experienced in recent decades has not been sustainable or inclusive. Africa’s economies must move beyond producing raw materials to build competitive manufacturing with added value. Developed countries’ experiences will help Africa avoid the pitfalls of unbridled industrialization, especially environmental damage. Africa is committed to industrialization. The process is already underway in Ethiopia, Ghana, Rwanda, and Senegal.
Dana Sanchez, 4:10 pm
Around 60% of all products in South African stores are halal certified. Despite Muslims forming 1.5% percent of the population, this huge percentage of halal products is due to the large quantity of exports sent north in the continent, much of which is Muslim. South African traders make up about half of Africa’s fast-moving consumer goods sector, and 35 percent of these traders are Muslim. SA has helped other African countries set up halal certification including Zambia, Namibia, Botswana and Mozambique.
Dana Sanchez, 11:42 am
With 13.5M people, Guangzhou, China, is one of the most populous metropolitan areas on Earth, and it’s though to have Asia’s largest African population. Formerly known as Canton, the city was home at one point to up to 200,000 Africans, although that number has been disputed. One trend seems undisputed. The African population in Guangzhou is shrinking. Africans are leaving for greener pastures elsewhere in Asia.
Dana Sanchez, 3:32 pm
Language is a barrier to investment in Africa, but economists say African innovators should think beyond English when developing innovations aimed at solving local problems. There are more than 3,000 languages spoken in Africa by some counts. Language barriers — especially an inability to communicate in English — have hampered trade in Mozambique, where Portuguese is spoken by more than half the population, and Rwanda, where Kinyarwanda is spoken by most Rwandans, but English is an official language.
Staff, 12:12 am
Trade deals criticized as harmful to U.S. economic interests have emerged as a key issue in the race for the White House. Trump could include AGOA as part of a general offensive against U.S. trade agreements. A threat to the program will more likely come from unfair competition on the part of the European Union. African regional trade blocs are in talks with the E.U. on deals that would allow E.U. goods to enter the continent duty-free.
Power Africa’s Existential Crisis: Some Say It Has Fizzled, Others Say It Was Never Meant To Happen OvernightBy Dana Sanchez, 12:35 pm
U.S. agencies announced $1 billion in new Power Africa loans at the U.S.-Africa Business Forum, underway in New York. The goal of Power Africa was to persuade the private sector to tackle Africa’s power shortages, not simply provide a government handout, a stakeholder said. “When you are talking about infrastructure investments and power projects, you’ve got to have the ability to get way past the next election. And if you don’t, those projects probably aren’t going to happen,” another stakeholder said.
Staff, 12:38 pm
Most foreigners applying for business visas to South Africa simply give up in frustration, says immigration lawyer Gary Eisenberg. South Africa emerged from isolation, only to erect the same barriers to trade and capital that restricted the economy pre-1994, he says. The country has become uncompetitive due to corruption, an ineffective judicial process, bureaucratic inefficiency and compromised rule of law.
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
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