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African Perspectives on Trade and the WTO

Domestic Reforms, Structural Transformation and Global Economic Integration

image of African Perspectives on Trade and the WTO

Twenty-first century Africa is in a process of economic transformation, but challenges remain in areas such as structural reform, governance, commodity pricing and geopolitics. This book looks into key questions facing the continent, such as how Africa can achieve deeper integration into the rules-based multilateral trading system and the global economy. It provides a range of perspectives on the future of the multilateral trading system and Africa's participation in global trade and underlines the supportive roles that can be played by multilateral and regional institutions during such a rapid and uncertain transition. This volume is based on contributions to the Fourth China Round Table on WTO Accessions and the Multilateral Trading System, which took place just before the WTO's Tenth Ministerial Conference in Nairobi in December 2015.

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Economic Diversification in Africa’s Number One Economy

Nigeria is the largest economy in Africa, with a GDP in excess of US$ 500 billion, dependent on oil and gas exports for the bulk of government revenues as well as foreign exchange. Its growth – which averaged about 7 per cent in the decade between 2005 and 2014 – has in recent years been driven by the non-oil sectors: services, agriculture and manufacturing. The principal challenge for the President Buhari administration, which took office in May 2015, is to build on this trend, by diversifying export income and the sources of government revenues, as well as kickstarting the long-overdue task of industrializing the Nigerian economy. One of the goals of this approach is to achieve robust, stable and predictable growth, free from short-to-medium-term cycles of boom and bust.

English

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