- February 9, 2019
Africa-Europe Alliance: EU supports the new African Union Trade Observatory
The EU provides €4 million from the Pan-African Programme for the Observatory to be established.
Commissioner for International Cooperation and Development Neven Mimica said: “The new African Union Trade Observatory is another step towards the African Continental Free Trade Area, which will help the continent harness its economic potential. It will provide the African Union, the African countries and the private sector with data and statistics that are essential for the sound monitoring of continental trade and evidence-based policy-making. Our support of 4 million euros to this Observatory is another example of the Africa-Europe Alliance in motion.”
The Observatory will collect data and analyse trade across borders in Africa, addressing the current lack of up-to date-and reliable data and statistics. This information will be made available for policymakers and interested stakeholders, including economic operators. This will enable them to identify promising market opportunities and will facilitate the effective monitoring of the African Continental Free Trade Area implementation and impact once in place.
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