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Old June 21st, 2018, 10:41 PM   #361
marokko
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I understand, but that is actually a nice reason to work together so that you can fix as nations the problems that your citizens cope with in the other nation. By negotiation and mutual understanding these kind of issues can be solved by time and not by separating yourself or attacking the other with emotional and religious slogans. I have to admit that this process takes time, but it is often the only peaceful way.

Morocco has learned this by its Sahara issue. The previous king thought that he could make a statement by leaving AU, because he felt that Morocco, a founding father of AU, was stabbed in the back by its African brothers. After 30 years it decided to come back, because it realized that the problem couldn't be solved by not discussing and corporation with other African countries. A country like Rwanda understood this also very well. Kagame didn't choose to take revenge on a certain group of society after the civil war ended. He rather made the country now one of the fastest growing in Africa by including "the bad group" in society too. Correct me if I am wrong. I like to learn
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Old June 29th, 2018, 10:17 PM   #362
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Here's why ECOWAS may not have a single currency by 2020

Amadou Diouf, an Economist from ECA West Africa stated that many West African countries were yet to meet the macroeconomic convergence criteria for a single currency.
  • United Nations Economic Commission for Africa said the 2020 deadline for the commencement of the region’s single currency agreement is unattainable.
  • ECOWAS said many countries were yet to meet the macroeconomic convergence criteria for a single currency set up by the ECOWAS and the West African Monetary Agency.
  • Nigerian government had cautioned African nations against a hasty move to introduce a single currency for West Africa.



The United Nations Economic Commission for Africa said the attainment of all macroeconomic criteria by the ECOWAS states maybe unattainable before the 2020 deadline for the commencement of the region’s single currency agreement.

Amadou Diouf, an Economist from ECA West Africa, revealed this on Wednesday, June 27, 2018, in Cotonou, the economic centre of Benin, in a presentation at the on-going 21st Session of the Intergovernmental Committee of Experts for West Africa.

The Subregional Office for West Africa, based in Niamey, covers the 15 member countries of the Economic Community of West African States (ECOWAS): Benin, Burkina Faso, Cabo Verde, Cote d’Ivoire, the Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone and Togo.

Experts from these member States form the Intergovernmental Committee of Experts of West Africa and this year's session is themed: “Regional Integration in West Africa: Challenges and Prospects”.

...

http://www.pulse.ng/bi/finance/heres...id8552548.html
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Old June 29th, 2018, 10:21 PM   #363
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ECOWAS would be negatively affected by admission of Morocco, Tunisia: ECA report

The admission of the two North African countries into the West African economic bloc would negatively affect trade and customs revenue of Ecowas countries, a preliminary report by the UN Economic Commission of Africa (UNECA) has stated.

Preliminary findings of the study by the West Africa office of UNECA revealed that admitting Morocco and Tunisia would lead to deterioration of trade and a decline in customs revenues for ECOWAS countries.

On the request of the ECOWAS Commission, the ECA, as a think-tank, has undertaken a thorough analysis of the potential implications on trade flows of the expansion of ECOWAS with the admission of the two countries as well as the re-admission of Mauritania.

The preliminary report of the study was released at a two-day sub-regional adhoc expert group meeting in Cotonou, Benin, 25 – 26 June 2018.

The possible accession of Morocco and Tunisia would have contrasting effects on ECOWAS countries,” the report said, adding that ECOWAS would register negligible increase in exports to the North African countries, while the two countries’ exports to ECOWAS would increase further.

...

http://thepoint.gm/africa/gambia/art...sia-eca-report
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Old December 27th, 2018, 04:09 PM   #364
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Algeria plans negotiation on preferential trade agreement with ECOWAS



ALGIERS - Algeria plans to begin negotiations with the Economic Community of West African Countries (ECOWAS) with a view to concluding a preferential trade agreement between the two parties, the Minister of Commerce said Wednesday in Algiers Said Djellab.

"We will negotiate on a preferential trade agreement with the Economic Community of West African Countries (ECOWAS) to facilitate access of Algerian products to this area, which represents a market of 300 million consumers", Djellab said during the opening ceremony of the 27th edition of the Algerian Production Fair.

For Mr. Djellab, Algeria has actually started negotiations on a preferential trade agreement with Mauritania, which hosted, last October, the fair of Algerian production by proving that "the national product has a place in foreign markets" .

Algeria will then target markets in Central and Southern Africa, the minister added. This reflects, according to him, "the strategic orientation of the country towards its continent which represents a natural space".

He added: "Algeria is a pioneer country in Africa, and we need to integrate economic content into our distinguished diplomatic and political relationship on the continent, an objective we seek to achieve."

As such, he noted that economic studies show that Algeria will be in the next few years the most important promising market in the world, the volume of trade does not exceed 11%
".

"We have a very significant margin of maneuver with the countries of Africa, hence the need for us to work to ensure that Algeria wins its share in this market," says the minister.

This new orientation towards Africa will be concretized by many exhibitions and economic events in which Algeria will participate in this continent, said the minister adding that Algeria intends to participate in 29 exhibitions in Africa on 53 international exhibitions outside the country during the period 2019/2020.

Algeria had participated in 25 fairs and economic events in 2018 in several capitals, including Washington, Brussels, Nouakchott and Doha to promote the local product in international markets.

These fairs were crowned by the signing of important export contracts, said the minister citing the signature of 25 contracts during the Nouakchott trade show (Mauritania) and 12 contracts during the Libreville trade fair (Gabon).

In its export strategy, Algeria will rely on the agri-food, electronics and appliance sectors, as well as petrochemicals and petroleum products, after the coverage of the country's domestic demand. here two years.

Launch of a caravan for exporting Algerian products to Niger

In addition, this strategy includes the emergence of export excellence poles at the local level.

Algerian export shows have been held in many wilayas recently, such as Setif and Batna, which indicates "the existence of competition between the territories to encourage," said Djellab.

Export activities in the border wilayas will be strengthened, notably through local economic events that will take on an international dimension from 2019 with the participation of neighboring countries, like the "El Moggar" event.

The minister announced the launch, in the coming days, of a caravan with 150 trucks loaded with building materials from Tamanrasset to Niger.

On the other hand, companies wishing to access foreign markets will benefit from training in export trades at the level of the Algerian Chamber of Commerce and Industry.

These efforts will be accompanied by the strengthening of the role of the Algerian Society of Fairs and Exports (SAFEX) and the companies accompanying exporters in logistics while introducing reforms at the level of the National Agency for the Promotion of Foreign Trade (ALGEX) to reactivate its role as an observatory for foreign markets.

...

Quote:
L'Algérie envisage la négociation sur l'accord commercial préférentiel avec la CÉDÉAO

ALGER - L'Algérie envisage d'entamer des négociations avec la Communauté économique des pays d'Afrique de l'Ouest (CEDEAO) en vue de conclure un accord commercial préférentiel entre les deux parties, a indiqué mercredi à Alger le ministre du Commerce, Said Djellab.

"Nous allons négocier sur un accord commercial préférentiel avec la Communauté économique des pays de l'Afrique de l'Ouest (CEDEAO) permettant la facilitation d'accès des produits algériens à cette zone qui représente un marché de 300 millions de consommateurs", a précisé M. Djellab lors de la cérémonie d'ouverture de la 27è édition de la Foire de la production algérienne.

Pour M. Djellab, l'Algérie a entamé effectivement la négociation sur un accord commercial préférentiel avec la Mauritanie qui a abrité, en octobre dernier, la foire de la production algérienne en prouvant que "le produit national possède une place dans les marchés extérieurs".

L'Algérie ciblera, par la suite, des marchés des pays de l'Afrique centrale et australe, a ajouté le ministre. Cela reflète, selon lui, "l'orientation stratégique du pays vers son continent qui représente un espace naturel".

Et d'ajouter: "l'Algérie est un pays pionnier en Afrique, et nous devons intégrer un contenu économique dans notre relation diplomatique et politique distinguée sur le continent, un objectif que nous cherchons à atteindre".

A ce titre, il a noté que les études économiques montrent que l'Algérie sera au cours des prochaines années le plus important marché prometteur de par le monde, le volume des échanges commerciaux ne dépassant pas les 11%".

...
http://www.aps.dz/economie/82910-l-a...avec-la-cedeao
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Old December 27th, 2018, 06:02 PM   #365
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This makes more sense
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Old December 28th, 2018, 10:08 AM   #366
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Didn't Mauritania and Libya also apply for ECOWAS earlier. That is basically the whole Maghreb Union, now with Algeria, showing interest after Morocco applied. Maghreb+ECOWAS unification

Last edited by marokko; December 28th, 2018 at 04:06 PM.
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Old December 28th, 2018, 08:24 PM   #367
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Didn't Mauritania and Libya also apply for ECOWAS earlier. That is basically the whole Maghreb Union, now with Algeria, showing interest after Morocco applied. Maghreb+ECOWAS unification
well algeria isnt applying. i believe tunisia made a move but nothing came of it
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Old December 29th, 2018, 01:16 PM   #368
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ECOWAS single currency by 2020 a challenge, says Minister

Nigeria’s Minister of Foreign Affairs, Geoffrey Onyeama has said that achieving the Economic Community of West African States (ECOWAS) Single Currency by 2020 will be a challenge.

Onyeama, who is also the Chairman of the ECOWAS Council of Ministers, said this while responding to questions from newsmen at the end of the 54th Ordinary Session of the ECOWAS of Heads of State and Government in Abuja weekend.

He said that there were certain criteria that needed to be fulfilled for a region to achieve the single currency, and which were not yet fully addressed.

According to him, “There is a roadmap, the convergence criteria that have to be satisfied before we can really get to the stage of a single currency.

In ECOWAS, we have a group of countries that in essence almost have a single currency mechanism in place and we have other countries that have their own currencies and being able to align all these is going to take some time.

It will be a challenge to achieve the single currency by 2020 but all the efforts are being made.

He said however that the central bank governors, finance ministers and experts in the region were working toward ensuring that the set timeline was achieved.

The political will is there and it is really a question to see whether the economic and fiscal realities will converge with the political aspirations.

Also responding, the President of the ECOWAS Commission, Jean-Claude Brou, said the region had made very good progress in its efforts to ensure free movement of people among member states.

Brou said that part of the efforts was to have biometric identity card for all citizens in the region to promote security and facilitate the achievement of the single currency.

He said, “Three countries in ECOWAS are already using the ECOWAS Biometric Identity card, so we are urging other countries to do it.

It has security features and that will also increase security in the region and at the same time, not prevent free movement of goods and persons which is a very important step of the single market.

...



http://shipsandports.com.ng/ecowas-s...says-minister/
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Old January 11th, 2019, 06:41 PM   #369
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Cote D’Ivoire president calls for Western Africa union



Cote D’Ivoire President Alassane Ouattara has said the West African Economic and Monetary Union (Uemoa) – the eight countries which use the CFA franc, the currency guaranteed by the French treasury – should embark on political integration.

He cited the economic success since Uemoa was created in 1994 following the devaluation of the CFA franc.

“Ever since the currency has been doing well… last year, the region grew by 6.7% – among the highest rates in Africa,” he said.

With inflation at just 3.3%, he said this was an example of successful integration in Africa.

But trade within the region remains weak, and is also hampered by illegal border charges, he added.

The region has also had to face up to new challenges, such as insecurity, which didn’t exist 25 years ago, according to Benin’s Planning Minister Abdoulaye Biotchane.

“In recent months and years, all our countries are threatened by that [insecurity]. Some countries live with it every day,” Mr. Biotchane said.

Uemoa’s goal is to create a common market and share resources to achieve economic and monetary development

https://africa.cgtn.com/2019/01/11/c...-africa-union/
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Old January 11th, 2019, 08:52 PM   #370
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Originally Posted by ekema View Post
Cote D’Ivoire president calls for Western Africa union



Cote D’Ivoire President Alassane Ouattara has said the West African Economic and Monetary Union (Uemoa) – the eight countries which use the CFA franc, the currency guaranteed by the French treasury – should embark on political integration.

He cited the economic success since Uemoa was created in 1994 following the devaluation of the CFA franc.

“Ever since the currency has been doing well… last year, the region grew by 6.7% – among the highest rates in Africa,” he said.

With inflation at just 3.3%, he said this was an example of successful integration in Africa.

But trade within the region remains weak, and is also hampered by illegal border charges, he added.

The region has also had to face up to new challenges, such as insecurity, which didn’t exist 25 years ago, according to Benin’s Planning Minister Abdoulaye Biotchane.

“In recent months and years, all our countries are threatened by that [insecurity]. Some countries live with it every day,” Mr. Biotchane said.

Uemoa’s goal is to create a common market and share resources to achieve economic and monetary development

https://africa.cgtn.com/2019/01/11/c...-africa-union/
Benin is a country quietly growing at around 6% a year. You almost never hear of this apparent success.

I dont know much more as most of the articles are no doubt in French but I wonder how things are there.
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Old January 11th, 2019, 10:00 PM   #371
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i find his numbers suspect. at any rate, benin is more of a product of lagos and the ineffieciency in Nigeria.
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Old January 26th, 2019, 05:14 PM   #372
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Morocco’s pivot to Africa hints at a new post-colonial order

King Mohammed VI combines business with diplomacy in pursuit of results

One impact of the financial crisis that has only recently become clear is the retreat of western banks from Africa. This, and diminished confidence in its traditional partners, lie behind Morocco’s unexpectedly energetic pivot towards its own continent in the past decade.

Now back at the centre of power, having stepped back after constitutional changes that followed the 2011 Arab uprising, King Mohammed VI has put business expansion and diplomacy across Africa at the centre of Morocco’s development strategy.

Cynics are right to observe that the rhetoric of “developmental states “and “south-south co-operation” has too often failed to meet African aspirations, as reflected in depressing data on regional trade, or on economic uplift for all but the elites. Big questions remain about the levels of risk implied in Morocco turning its sights southwards, but the trend cannot be ignored if one is to understand contemporary Africa.

Finance has provided a flagship for Morocco Inc, after the withdrawal, or scaling down, of international banks across Africa over the past decade created a vacuum that has been filled by Casablanca institutions. The commercial success of the big three — Attijariwafa Bank, BMCE Bank and Banque Centrale Populaire (BCP) — has been coupled with a recognition that Morocco could project its influence well beyond the west African countries with which it has historical links.

This process would help consolidate key national goals, including confirmation that the disputed Western Sahara is part of a greater Moroccan kingdom rather than a former Spanish colony aspiring to independence. Morocco’s new focus on Africa made restoring its membership of the African Union in January 2017 essential, ending a boycott dating back to 1984 after the rival Sahrawi Arab Democratic Republic (SADR) was admitted as a full member.

Those doubting the extent of Morocco’s ambitions in previously unfamiliar markets, from Egypt to Ethiopia and Nigeria, ignore a defined pattern of activity. It no longer seems unusual that one-third of Attijariwafa Bank’s profits come from other African markets, that phosphate giant OCP Group is investing heavily in Ethiopia or even that Rabat is planning a gas pipeline from Nigeria, a political rival, to the Mediterranean.

Initiatives like Casablanca Finance City have been fashioned to provide a platform for working in Africa. The hitherto domestically focused SNI, a holding company majority owned by royal interests, has been rebranded with an “African identity”.

Morocco’s applications — a surprise to some — to join the Economic Community of West African States (Ecowas) and its associated electricity market fit this logic. Similarly, Rabat’s commitment to the potential white-elephant gas pipeline and distribution system covering west Africa would feed its desire to become an energy hub.

The pivot is not all about institutions, however. It has exploited historical ties, including close relations with leaders such as Ivory Coast’s president Alassane Ouattara and King Mohammed’s childhood friend Ali Bongo Ondimba, the Gabon president. The king’s line in multicoloured djellaba robes — a fashion statement appreciated by many Moroccans — and promotion of “moderate” Sufi Islamic values are a contemporary take on traditional links that span the Sahara.

One forward-thinking Casablanca banker admonishes those who say Sufi ties with west Africa are essential to understanding contemporary business. Yet others say Morocco’s identification with the north Africa-based Qadiriyya and Tijaniyya orders, which have a longstanding sub-Saharan presence, has enhanced its standing with leaders such as Nigerian president Muhammadu Buhari.

King Mohammed has rightly made his focus on Africa results-based. The sacking last August of respected finance minister Mohamed Boussaid followed a colère royale, royal anger, at the lack of significant social and economic improvements for marginalised populations. The new minister, Mohamed Benchaâboun, emerged as a public figure by leading BCP into Africa.

Yet the king’s ambitions are not without risk. The Ecowas application has stalled. The pitfalls of building up sub-Saharan exposure by banks and big companies are discussed privately but played down publicly. Morocco is having to live with the SADR’S AU membership, which may complicate diplomatic ties with some countries.



...



https://www.ft.com/content/ed1b4cb8-...f-bc62050f3c4e
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Old January 26th, 2019, 06:29 PM   #373
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Is this a new article ? Or is Europe only just reacting to this.
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Old February 1st, 2019, 04:38 PM   #374
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Exchange rate, inflation, hindering attainment of ECOWAS 2020 single currency goal- analyst

Marcel Okeke former chief economist/group head, research & economic intelligence group, at Zenith Bank Plc, has said the plan by Economic Community of West African States (ECOWAS) to achieve single currency for the region by 2020 is no longer realistic, due to challenges and criteria that many of the member countries will not be able to meet.

He spoke at the Finance Correspondents Association of Nigeria (FICAN) 2018 Economic Review and 2019 0utlook held in Lagos at the weekend.

Okeke, who is now the lead consultant, Mascot Consult Limited, said the ECOWAS common currency has been on for many years and needs the member countries to attain key milestones for its successful take off.

It is not certain that it will happen in 2020. For instance, a country like Nigeria and other countries must not have inflation rates that are double digits. They must not have exchange rates that move up and down. So, there must be stability in all those indicators across board. As I stand with you, many member countries have not attained this feat,” he said.

Continuing, he said there are pros and cons for its implementation. “You see, some member countries of the Euro zone are having serious economic problem, which is robbing off on the rest of the members.

That is the type of challenge we might have in ECOWAS and I do not believe that the common currency plan will happen by year 2020,” he added.

Speaking on the banking system, Okeke said that banks do not operate in a vacuum but are product of the domestic economy where they do their business. “They are parts and parcel of the economy. All these variables, if the economy is doing well, generally, the banks will also be doing well. On the other hand, how well a bank does, is also a function of creativity. The truth is that even in an economy as bad as this, some businesses are still doing well in the system. And so, a bank that is efficient, no matter the odds in the system, will keep on doing well,” he said.

Continuing, he said: “If you check, and if one of us have one or two accounts or three, you will notice that whatever you do with your phone, there is a service charge. Those charges were not there years back. It means those banks are becoming more creative. And you cannot on the course of that, decide to keep your money under your pillow in your house. As long as you keep banking your money, and they keep making those gains, and adding them to their performance, and balance sheet, they will keep doing well”.

According to Okeke, banks are also careful as to who to lend money to because of interest rates on loans. “The essence is that if the rates are high, they will not be keen on lending to everyone that comes. So, that means that want to give money to borrowers with capacity to repay the loans”.

In a nutshell, those banks that have been doing well ill keep doing well. That means there will not be undue exposures to the banks. I will say that the banks the are doing well to do well, head or tail. Some of the banks are going into forced mergers and acquisitions, but many other banks are still waxing stronger,” he stated.

Speaking on the economy, he said foreign exchange reserves in Nigeria decreased to $41.99 billion in November from $42.13 billion in October of 2018 adding that the Nigeria’s external reserves inched up to $42.54 billion at the end of December.

The figures, he said, showed a decline by $5.25 billion, compared with the $47.788 billion it was as at the end of June, 2018. “It stood at $43.28 billion as at January 21, 2019. The combination of rising yields in advanced economies, particularly in the United States coupled with growing concerns about the global economy due to the trade spat between the US and China have led to a reversal of capital flows in emerging markets. Elevated tensions in the political economy will further compound the concerns of foreign investors, leading them to migrate to safe haven high-quality assets in advanced economies,” he added.

...



https://www.businessamlive.com/excha...-goal-analyst/
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Old March 13th, 2019, 05:28 AM   #375
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Originally Posted by Umoja View Post
Algeria plans negotiation on preferential trade agreement with ECOWAS



ALGIERS - Algeria plans to begin negotiations with the Economic Community of West African Countries (ECOWAS) with a view to concluding a preferential trade agreement between the two parties, the Minister of Commerce said Wednesday in Algiers Said Djellab.

"We will negotiate on a preferential trade agreement with the Economic Community of West African Countries (ECOWAS) to facilitate access of Algerian products to this area, which represents a market of 300 million consumers", Djellab said during the opening ceremony of the 27th edition of the Algerian Production Fair.

For Mr. Djellab, Algeria has actually started negotiations on a preferential trade agreement with Mauritania, which hosted, last October, the fair of Algerian production by proving that "the national product has a place in foreign markets" .

Algeria will then target markets in Central and Southern Africa, the minister added. This reflects, according to him, "the strategic orientation of the country towards its continent which represents a natural space".

He added: "Algeria is a pioneer country in Africa, and we need to integrate economic content into our distinguished diplomatic and political relationship on the continent, an objective we seek to achieve."

As such, he noted that economic studies show that Algeria will be in the next few years the most important promising market in the world, the volume of trade does not exceed 11%
".

"We have a very significant margin of maneuver with the countries of Africa, hence the need for us to work to ensure that Algeria wins its share in this market," says the minister.

This new orientation towards Africa will be concretized by many exhibitions and economic events in which Algeria will participate in this continent, said the minister adding that Algeria intends to participate in 29 exhibitions in Africa on 53 international exhibitions outside the country during the period 2019/2020.

Algeria had participated in 25 fairs and economic events in 2018 in several capitals, including Washington, Brussels, Nouakchott and Doha to promote the local product in international markets.

These fairs were crowned by the signing of important export contracts, said the minister citing the signature of 25 contracts during the Nouakchott trade show (Mauritania) and 12 contracts during the Libreville trade fair (Gabon).

In its export strategy, Algeria will rely on the agri-food, electronics and appliance sectors, as well as petrochemicals and petroleum products, after the coverage of the country's domestic demand. here two years.

Launch of a caravan for exporting Algerian products to Niger

In addition, this strategy includes the emergence of export excellence poles at the local level.

Algerian export shows have been held in many wilayas recently, such as Setif and Batna, which indicates "the existence of competition between the territories to encourage," said Djellab.

Export activities in the border wilayas will be strengthened, notably through local economic events that will take on an international dimension from 2019 with the participation of neighboring countries, like the "El Moggar" event.

The minister announced the launch, in the coming days, of a caravan with 150 trucks loaded with building materials from Tamanrasset to Niger.

On the other hand, companies wishing to access foreign markets will benefit from training in export trades at the level of the Algerian Chamber of Commerce and Industry.

These efforts will be accompanied by the strengthening of the role of the Algerian Society of Fairs and Exports (SAFEX) and the companies accompanying exporters in logistics while introducing reforms at the level of the National Agency for the Promotion of Foreign Trade (ALGEX) to reactivate its role as an observatory for foreign markets.

...



http://www.aps.dz/economie/82910-l-a...avec-la-cedeao
The Maghreb countries are willing to do anything except reconcile and work together
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Old May 14th, 2019, 11:59 AM   #376
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ECOWAS proposes regional defense force

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Old June 22nd, 2019, 01:04 PM   #377
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I hope morrocco wont be part of ecowas if their plan to create a money is happening accordingly. What the point with a North African country to be part of a west African union?

So much geographical, ideological and cultural barrier. Morrocco and any north African nation will pull every west African nation back from progress. Dont Mansa Musa again...
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Old July 10th, 2019, 05:38 PM   #378
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Another ECOWAS summit ignores Morocco’s bid to join the trade bloc

Held on June 30 in Abuja, an Economic Community of West African States (ECOWAS)' summit ignored once again Morocco’s bid to join the trade bloc.

According to the summit’s final statement, released on July 2, the meeting did not review Morocco’s pending bid. This summit was held after the trade bloc agreed in principle on the Kingdom’s application in 2017.

The committee set up after an ECOWAS summit in 2017, composed of the Togolese, Ivorian, Guinean and Nigerian presidents to evaluate the impact Morocco’s membership would have on the bloc, has not delivered its report yet.

For the record, during the Monrovia summit in June 2017, the Minister of Foreign Affairs and International Cooperation, Nasser Bourita, told reporters that the Kingdom has to wait until the first quarter of 2018 for the decision of ECOWAS, which would be announced at an extraordinary session.

The next summit of the Economic Community of West African States is scheduled for December 2019 in Niamey, Niger.



...More : https://en.yabiladi.com/articles/det...morocco-s.html
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Old July 11th, 2019, 12:08 AM   #379
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What's Morocco's position on the eco currency?
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