What exactly is trade in services? Why is it relevant when discussing trade and development, especially in Africa? How does it work?
If you have asked these questions, then this episode provides some of the answers. In this episode, Amar sits down with services experts, Beatrice Chaytor, Head of Trade in Services, AfCFTA and Prachi Agarwal, Research Fellow, International Economic Development Group, ODI Global. They discuss:
- The critical role of services trade in Africa's economic development, particularly in the context of the African Continental Free Trade Area (ACFTA).
- The importance of services in driving structural transformation, enhancing productivity, and fostering economic diversification.
- The challenges and opportunities with services trade
- And much more
Key Takeaways
- Trade policy extends beyond Washington DC to global contexts.
- Services trade is a rapidly growing component of the economy.
- Africa's services exports account for a small percentage of global trade.
- The African Continental Free Trade Agreement (ACFTA) aims to enhance regional trade.
- Services can drive economic growth and diversification in Africa.
- Investment in services can create jobs, especially for women and youth.
- The ACFTA includes protocols on trade in services and investment.
- Regional Economic Communities (RECs) play a crucial role in trade integration.
- Challenges include regulatory barriers and lack of awareness about services.
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