Facilitating Trade to Enhance Cross-Border Flow of Goods and Information

As we braced ourselves for the current financial turmoil, the world is gripped in a new process of globalisation as reflected in the growth of world trade, internationalisation of production, distribution networks and the mega-revolution in information, communications and technology. Universally there exist both opportunities and challenges for developing countries, especially on the African continent. Given this, it demands that the continent becomes competitive in attracting investment, new technology and exporting goods and services that can compete efficiently on the global market. Being part of the Global Value Chain (GVC) would greatly enhance the prospects of the continent. However, a vital prerequisite is that the continent adheres to international best practices, aligning themselves with the set international standards and using superior information technology infrastructure to be fully integrated in the GVCs. The successful formation of a Continental Free Trade Agreement may be the vehicle to ensure this vision is realised.