ACET hosted a session, “Leveraging Trade Facilitation Agreement to Promote Agricultural Transformation and Trade,” at the WTO Ministerial meeting in Nairobi, Kenya.
Agriculture can be a powerful driver of Africa’s economic transformation. To realize this potential, countries will not only have to raise farm productivity, but must also move up the value-chain in the products they produce and export. This means, being able to process and export their agricultural products in higher value forms rather than as just raw commodities. Trade facilitation has the potential to act as a powerful catalyst to this end because “every extra day it takes in Africa to get a consignment to its destination is equivalent to a 1.5% additional tax”. For agricultural products any actions to cut down on barriers and reduce delays will help reduce costs, enable larger volumes of trade, lower prices to final consumers and potentially higher incomes to suppliers in the entire agricultural value chain.