Tunisia Aims for 5% Increase in Exports to Africa

Business

January 4th, 11:51am

Tunis - Mongi Saidani

A general view shows a empty street in Sidi Bou Said, an attractive tourist destination, amid a coronavirus lockdown, Tunis, Tunisia, April 1, 2020. (Reuters)

Tunisia aims to boost its exports to Africa by $741 million, or a 5 percent increase, announced general director of Tunisia’s Export Promotion Center (CEPEX) Chiheb ben Ahmed. Tunisia recorded a trade surplus with African countries of about $450 million, however, the coverage of the continent's markets and trade levels are still below expectations. Ben Ahmed indicated that Tunisia can benefit from the enormous commercial potential of Africa given its ability to provide an important part of the continent’s needs of medicines and food products. He noted that the trade exchange between Tunisia and African countries amounts to five percent of the country’s total international trade, while it exceeds 70 percent with the European Union. A number of economists and financial experts believe that Tunisia's chances of entering Africa remain weak due to several factors that limit access to its promising markets that boast around 1.2 billion consumers across 54 countries. Tunisia’s lack of diplomatic representation in a number of African countries, weak air and sea transport to the continent and political turmoil make it risky to trade with Africa. In July, Tunisia ratified the African Continental Free Trade Area (AfCFTA) agreement and is currently working in cooperation with the Arab Maghreb countries to prepare the national strategy for the implementation of this agreement. The agreement was launched this month during a virtual ceremony held by the UN Economic Commission for Africa, with the participation of the UN Conference on Trade and Development, the UN Development Program and the African Export-Import Bank. AfCFTA aims to create one African market by eliminating non-tariff barriers (NTBs), supporting bilateral trade exchange, promoting structural transformation at the economic level, providing job opportunities and reducing poverty.

from Asharq AL-awsat https://english.aawsat.com/home/article/2720751/tunisia-aims-5-increase-exports-africa