Africa’s population of about one billion consumers is a powerful engine for growth, employment and intra-African trade, especially at a time when other markets are contracting in the wake of the global financial crisis.
So far, though, too many declarations have been made and too little action taken, a workshop bringing together senior African policy makers, private investors, trade and development experts, and African finance ministers concluded Friday, October 8, 1010.
Africa trades more with the rest of the world than it trades with itself. Intra-African trade accounts for hardly 10 percent of the region’s total trade, compared to rates of 40 percent for intra-North American trade and about 60 percent for trade among Western European countries.
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