What Tools Allow You to Identify Business Opportunities

Posted by Llama 3 70b on 18 July 2024

Workshop on Operational Instruments of the African Continental Free Trade Area (AfCFTA) with a Focus on Rules of Origin and Non-Tariff Barriers

A workshop on operational instruments of the African Continental Free Trade Area (AfCFTA) with a focus on rules of origin and non-tariff barriers was held on July 16-17, 2024, in Tunis, organized by the COMESA Business Council (CBC) and EU-TAF.

Day 2: Presentation on Online Tools for Promoting Intra-African Trade

On the second day, Mehdi Mehamha, Project Manager of EU-TAF (Technical Assistance Facility), presented a session focused on introducing participants from the private sector of French-speaking COMESA member states to several online tools aimed at promoting intra-African trade. These tools include two operational instruments of the AfCFTA: the AfCFTA E-Tariff Book and the African Trade Observatory (ATO).

AfCFTA E-Tariff Book: Facilitating Trade and Improving Tariff Knowledge

The AfCFTA E-Tariff Book is part of the AfCFTA Secretariat's digitization and trade facilitation journey. Its purpose is to ensure that tariff concession lists are easily accessible to trade and customs authorities, enabling them to take advantage of the benefits of the AfCFTA agreement and improving knowledge and capacity in using tariffs, HS, product classification, and customs tariff organization within customs administrations and other relevant stakeholders.

African Trade Observatory (ATO): Providing Reliable Data for Informed Trade Policy Decisions

The ATO is one of the five operational instruments of the AfCFTA launched during the 12th Extraordinary Summit of the African Union in Niamey in July 2019. The ATO dashboard aims to provide up-to-date and reliable data to inform trade policy decisions and analyze the implementation of the AfCFTA and its impact. Additionally, it facilitates the launch of trade exchanges within the free trade area. The ATO's Compare and Explore modules offer African businesses reliable and updated information to identify commercial opportunities and market access conditions in AfCFTA member states.

International Trade Centre (ITC) Tools: Identifying Export Potential and Opportunities

Beyond these AfCFTA tools, the International Trade Centre (ITC) has several relevant tools, including the Export Potential Map. This tool identifies products, markets, and exporting countries with untapped export potential, as well as opportunities for export diversification for 226 countries and 4,490 products. The website can also help Chambers of Commerce and Industry (CCIs) design and offer their members detailed guidance on underexploited or unexploited export opportunities.