Regional Trade Arrangements in Africa : Past Performance and the Way Forward

Author/Editor:

Yongzheng Yang ; Sanjeev Gupta

Publication Date:

February 1, 2005

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Regional trade arrangements (RTAs) in Africa have been ineffective in promoting trade and foreign direct investment. Relatively high external trade barriers and low resource complementarity between member countries limit both intra- and extraregional trade. Small market size, poor transport facilities and high trading costs make it difficult for African countries to reap the potential benefits of RTAs. To increase regional trade and investment, African countries need to undertake more broad-based liberalization and streamline existing RTAs, supported by improvements in infrastructure and trade facilitation. Early action to strengthen the domestic revenue base would help address concerns over revenue losses from trade liberalization.

Series:

Working Paper No. 05/36

Subject:

English

Publication Date:

February 1, 2005

ISBN/ISSN:

9781451860559/1018-5941

Stock No:

WPIEA2005036

Format:

Paper

Pages:

44

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