Massive EU grant facilitates compliance

Cross-border trade in Central

Africa should become more

efficient and less costly over

the next three years thanks to

a US$420 000 grant by the

European Union (EU) that will

help countries in the region

to comply with various trade

regulations, including the World

Trade Organisation (WTO) Trade

Facilitation Agreement.

WTO research has found that the

costs of trading between developing

countries are an estimated average

1.8 times higher than in developed

countries, with the highest trade

costs incurred by African countries.

“This European money will

help developing countries to get

ready for implementation of the

Trade Facilitation Agreement,”

said United Nations Conference on

Trade and Development (Unctad)

deputy secretary-general, Joakim

Reiter, in a statement.

The project will run for three

years, starting in January 2017.

The focus will be on improving

cooperation and communication

between neighbouring countries in

Central Africa.