Dele Ogbodo
13 July 2009
Abuja — United Nations Resident Coordinator (UNRC) in Nigeria, Dr. Alberic Kacou, weekend in Abuja, gave reasons why the Continent has low share of Global Trade.
He said many African countries rely on primary products, mainly agriculture, oil and extractive sectors, which account for more than 90 per cent of export earnings and over 50 per cent of government revenue.
He said Africa contributes a mere three per cent of global trade in 2008, with South Africa alone accounting for up to 50 per cent, adding that Intra African Trade performance has remained moderate, contributing 8.3 and 9.3 per cent to exports and imports.
He said studies conducted by the United Nations Centre on Trade and Development (UNCTAD) revealed that in West Africa region, three countries: Nigeria, Cote d'ivoire and Senegal, account for almost 90 per cent of all intra-regional exports and imports.He acknowledged the fact that remarkable reforms in macro-economics, fiscal, financial and establishment of free trade areas and Custom unions were achieved in the last 10 years, while internal and regional supply constraints are still impeding intra Africa trade.
In her remarks, Director, Business and Institutional Support Division, International Trade Centre (ITC), Ms Aicha Pouye, urged African nations to take advantage on the export impact for good by harnessing the current trend of globalisation for lasting development and poverty reduction.
She said ITC mandate is to help in development of export capacity in developing and transition economies, especially LDCs and LLCs, to help them trade their way out of poverty through regional trade integration.
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DON'T BE FAKED OUT FOR FEAR OF NOT FITTING INTO THE HERD !!!! ( Matthew 24:4 )
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* 16 European Nations . Met And Plotted On How They Would Rob Africa Of Its Riches.
* They met during two(2) Periods of time in two(2) places
* The General Act Of Berlin Conference (Nov, 1884 to February, 1885)
* Brussels Belgium to finalize SECRET agreements ( Nov, 1889 to July 1890)
* The Book “King Leopold’s Ghost (1998) by Adam Hochschild documents some of This information.
The following Nations (Households)… [Read Full Text]