Harmonised methods for informal cross border trade data collection critical in monitoring... ECA_OFFICIAL: Africa
Informal cross border trade in Africa is known to be large and an important contributor to the livelihoods of millions of Africans but there are no agreed methods to accurately measure it, experts said at the first physical meeting of the Task Force on developing a harmonized methodology for Informal Cross-Border Trade Data Collection.
Mr. Desta noted that official trade statistics often capture formal trade and leave out informal trade, leading to underestimation of the magnitude of intra-African trade. The size of ICBT in Africa means that the level of intra-African trade is probably much higher than the 16 to 18 percent figure that is often used by experts, he said.
“Informal cross border trade is prevalent in Africa, and hence the need to capture the structure, pattern and gender dimensions”. Mr. Mureverwi noted that to fully support the implementation of the African Continental Free Trade Area, it was important to capture the activities of SMEs at the border, since they immensely contribute to African economies.
The Taskforce has held two virtual meetings to deliberate on the definition and the components of the ICBT methodology. The current hybrid meeting will build on already existing work on ICBT within the continent.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rebuilding from the unrest | BusinessSouth Africa is exposed to economic security risk by concentrating most of its trade in KwaZulu-Natal, cautions AndileNtingi. He proposes the Eastern Cape, which has 2 ports, as being well-positioned to lessen the reliance on Durban, in his latest column.
Read more »
Trading in Africa | BusinessThe African Continental Free Trade Area agreement will create the largest free trade area in the world. What are the challenges and how can South Africa benefit from it?
Read more »
Medal contenders give South African athletics some hope again | The CitizenTheCitizenSport: Now that the domestic track and field season has ended, we have a better idea of what to expect from the national team at the August World Athletics Championships in Budapest.🎖️🏃 Full story here➡️
Read more »
Rescued SA citizens in tears as they arrive home from war-torn SudanRescued SA citizens in tears as they arrive home from war-torn Sudan: More than 50 South African citizens evacuated from war-torn Sudan are finally home safely.
Read more »
Rescued SA citizens in tears as they arrive home from war-torn SudanMore than 50 South African citizens evacuated from war-torn Sudan are finally home safely.
Read more »