Intra-African trade increased by 3.2% in 2023 (Trade Minister)

Tunis: Although global trade declined by 5.2% in 2023, trade within the framework of intra-African trade increased by 3.2%, for a value of $192.2 billion, during the previous financial year, said Minister of Trade and Export Development, Kalthoum Ben Rejab.At the opening of the 3rd Tunisia-Africa Business Meetings (TABM) held on Tuesday, in Tunis, she underlined that the trade quota between African countries went from 13.6% in 2022 to 14.9% in 2023.According to her, the value of trade between Tunisia and sub-Saharan African countries rose to $650 million, while Tunisian exports to these countries exceeded $490 million, representing 3.5% of the total national exports. The electrical, mechanical and agri-food industries account for 90% of the volume of this trade.Ben Rejab reiterated Tunisia's commitment to consolidate its political and economic relations with all countries on the African continent, whether at the bilateral level or within the framework of COMESA and ZLICAF mechanisms and the African Unio n.She added that «CEPEX has already expanded its network of commercial representations in Africa after inaugurating a sixth office in Dakar.»CEPEX CEO Mourad Ben Hassine pointed out that the TABM represents a special opportunity to increase Tunisian-African professional networking, which will help establish the pillars of a strong cooperation.The event is part of efforts to promote Tunisian exports and conquer new markets in sub-Saharan Africa as well as promote the Tunisian know-how, in several areas, particularly in the food, electrical, pharmaceutical sectors.According to Ben Hassine, over 2,000 business meetings are scheduled during this event between Tunisian and African businessmen working in several promising activity sectors.Secretary General of the «Arab Africa Trade Bridges (AATB)» programme Hani Salem Sonbol emphasized that the goal of the programme is to boost investments between Arab and African countries.Several agreements and memoranda of understanding were signed within the framewo rk of the Arab-Africa Trade Bridges Programme. The 3rd edition of the Tunisia-Africa Business Meetings was held at the initiative of CEPEX in coordination with the Ministry of Trade and Export Development.Source: Agence Tunis Afrique Presse