Africa


New Intra-African Trade Deal In The Works

Posted on December 12th, by Global Tax Weekly in Trade. No Comments

In what can also be described as something of a breakthrough for Africa’s future economic prospects, ministers agreed on December 2 – possibly around the same time as the US Senate was burning the midnight oil over tax reform – to form the Continental Free Trade Area (CFTA).

The CFTA is being touted as a massive opportunity for Africa. One of the main reasons cited for the region’s slow pace of economic development isn’t so much it’s lack of trade with the rest of the world, but its well-known inability to trade with itself. As Marc Yombouno, Minister of Trade of the Republic of Guinea, observed at the end of the talks in Niamey, Niger, intra-African trade represents only about 16 percent of the continent’s total trade, whilst in Asia and Europe, intra-regional trade is more like 50 to 60 percent.

This … Read More »





RELATED ARTICLES AND INFORMATION

OECD Releases BEPS Action 14 Peer Reviews

On February 16, the OECD released the final batch of BEPS Action 14 peer reviews, on the efforts of 13 jurisdictions to improve how...

EU Reports On Brexit Impact

The EU has been mulling over the anticipated economic impact of the Brexit split. Releasing its Winter 2021 Economic Forecast, the EU suggested that...

India Reduces Time-Period For Investigations

The Indian Government has announced its intention to reduce the time-period during which the tax authority can probe an individual’s tax affairs. Under the...