In Davos, WEF Africa flags the need to reduce non-tariff trade barriers
If we are to achieve a single market in Africa — the topic of the WEF panel — cross-border business needs to be made considerably easier
On January 22 2019, a session was held at the World Economic Forum (WEF) in Davos called “Achieving a single market in Africa”. The panel consisted of business leaders from pan-African companies, the president of the African Development Bank (AfDB), and Oxfam. The most interesting thread through the discussion was the urgent need for Africa to focus on reducing non-tariff barriers to trade. The business leaders bemoaned the difficulty in obtaining work permits and visas for Africans across the continent. For businesses to thrive, the continent needs best practices and the best business people to move across country borders with ease. This is particularly true for new and entrepreneurial companies where skills transfer is an imperative. At least 75% of businesses on the continent are small- and medium-sized enterprises (SMEs) and employ many of Africa’s citizens. These businesses will benefit from the removal of non-tariff barriers by, for example, being able to more easily access fi...
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