At 435%: Intra-African Trade Tariff Too High – Okonjo-Iweala

The Director General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has said that the Intra African trade tariff is too high at 435 per cent and is detrimental to trade activities as well as the implementation of the African Continental Free Trade Area (AfCFTA).
This high tariff, she said, is one of the reasons for the low trade volume among African countries which stands between 13 and 18 per cent while other blocs like the European Union achieve 60 per cent internal trade activities.
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said if trade barriers like tariffs, poor infrastructure, poor logistics etc are removed, intra-continental trade can grow by 53 per cent while trade outside the continent can grow by 15 per cent which translates into significant income increase and 10 per cent increase in real income.
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