KHARTOUM - Sudan once had the largest railway network in Africa, with most of the train cars obtained from the United States. But decades of negligence, economic troubles, and U.S. sanctions have made the railway reliant on Chinese-made trains and parts that it can hardly afford. With the recent ouster of Omar al-Bashir, the railway's supporters are hoping the United States will soon lift sanctions to help restore it to its former glory.
Amid trade tensions between the U.S., China and Europe, and the U.K.’s fraught departure from the European Union and single market, African leaders are moving in the opposite direction to establish the world’s largest free-trade zone. The African Continental Free Trade Area formally went into effect in May, four years after negotiations began. If it comes to full fruition, the deal could cover a market of 1.2 billion people with a combined gross domestic product of $2.5 trillion.
The Africa Continental Free Trade Area (AfCFTA) is now three months old after it was launched by the African Union (AU) during a summit of Heads of States in Nigerian capital, Niamey.
With this launch, the continent was ready to sing one song of becoming the world’s biggest economic bloc whereby member states will jointly market their products and commodities in Africa.
Note: This article first appeared on Afdb.org
« Intégrer l’Afrique », et agir sur les scénarios de nos futurs communs
NOUS vivons dans cette ère de la complexité où les évidences elles-mêmes, ont besoin de démonstration pour...
1.3 billion inhabitants. Twice as many by 2050 and probably four times as many by the year 2100. If Africa is a vibrant continent with great potential, this is the result of its demography. But this also gives rise to the many and diverse challenges across its different regions. With the increase in its population, Africa is confronted by an accelerating rural exodus and rapid urbanisation. Mobility requirements have never been so pressing as they are today.
Mabuza revealed one of the benefits of the trade agreement at the National Assembly in Parliament.
Note: This article first appeared on la-croix.com
Le FMI et la Banque mondiale encouragent les pays d'Afrique à surmonter les obstacles à l'instauration de leur vaste zone de libre-échange, potentiellement le plus grand marché au...
Casablanca – Le potentiel de développement touristique en Afrique “n’est pas réellement exploité”, a affirmé, mardi soir à Casablanca, Leila Farah Mokaddem, représentante résidente de la Banque Africaine de développement (BAD) au Maroc.