Foreign Trade, FDI, and Capital Flows Study

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Chad Growth and Diversification: Leveraging Export Diversification to Foster Growth
(World Bank, Washington, DC, 2019-05-30) World Bank
This report describes the key policies for Chad to successfully leverage export diversification to foster economic growth. After several unsuccessful attempts at diversifying in the 1990s, Chad has deepened its dependence on commodities, mainly relying on oil; which came to replace cotton. However, the experience of other countries, in Africa and other parts of the world, shows that while large scale production of oil resources offers great opportunities, it comes with major shortcomings. Chad’s Vision 2030 is to become an emerging economy, driven by diversified and sustainable sources of growth. The goal is to triple the average GDP per capita at current prices, by increasing it from US$ 730 in 2014 to US$ 2300 in 2030, while drastically reducing the poverty rate from 46.7 percent in 2011 to 8 percent during the same period. Chad’s economy is overly dependent on crude petroleum, which makes it vulnerable to external shocks. Therefore, to achieve this development goal, only an export diversification strategy can foster a larger menu of goods and services than can become growth-accelerating and job-creating activities. Its implementation challenges are formidable, but the country has little choice, as the social unrest following recurrent oil price slumps, its burgeoning youth population and regional security threats may foment more violence in an already fragile and volatile economy and keep investors away. Hence, this report outlines a strategy to achieve this vision centered on the diversification of its non-oil economy (mainly agricultural-based exports) away from natural resource-based commodities.
Mali Growth and Diversification
(World Bank, Washington, DC, 2018-03-14) World Bank
This report describes the key policies for Mali to succeed leveraging growth with export diversification. For many decades, Mali has been a commodity-dependent country, mainly relying on gold and, to a lesser extent, cotton. However, the experience of other countries, in Africa and other parts of the world, shows that large scale production of minerals and oil resources offers great opportunities, but also presents major shortcomings. These are: tendency to growth beyond potential in cycles of booming prices; high GDP growth volatility that translates into a fragile fiscal stance; a resource curse that favors production of non-tradable goods; and a growth pattern biased toward rent-seeking activities, which prevents expansion of competitive activities creation of abundant and better jobs. Mali is no exception to this. Mali needs to structurally transform itself to accelerate growth and reach its vision, Mali 2025. The Government of Mali does not have a choice: without adequate jobs by 2025, Mali’s burgeoning youth population will foment more violence in an already fragile economy and keep investors away. Hence, it has outlined a strategy to achieve this vision centered on the diversification of its economy (and exports) away from natural resource-based commodities.
Making the Most of Ports in West Africa
(World Bank, Washington, DC, 2016-04-06) World Bank
Ports have always played an essential role in this highly trade-dependent region. While there are still wide disparities in terms of throughput volumes and capacity, traffic has been growing rapidly in most countries over the last decade. Overall, total throughput in West Africa grew from around 105 million tons in 2006 to 165 million tons in 2012. Likewise, containerized traffic remains limited in West Africa compared to other regions but has grown faster than in any other region in the world over the last five years. The combined throughput of container terminals in the region reached almost 5 million twenty-foot equivalent units (TEUs) in 2013, twice as much as a decade ago, and is expected to keep growing fast. The future throughput of West African ports comprises the demand for containerized trade generated by coastal and landlocked countries, and additional port movements generated by transshipment in regional hub(s). Given the regional dynamics of ports in West Africa, there is also a good case for more cooperation between West African countries on port reform, competition and regulation. Strengthening the capacity and mandate of regional institutions such as the ECOWAS Commission on these issues would complement regulatory efforts at the country level and provide a forum to analyze regional issues related to inter-port competition and private sector participation in port management.
Political Economy of Regional Integration in Sub-Saharan Africa
(World Bank, Washington, DC, 2016-02-01) Hoffman, Barak; Brenton, Paul; Brenton, Paul; Hoffman, Barak
Regional integration in sub-Saharan Africa (SSA) is crucial for its further economic development and, more importantly, its structural transformation away from agriculture towards higher value-added activities, such as manufacturing and services. Yet there are many paths towards greater integration, some of which are easier than others. In order to gain insights into how regional integration is occurring in SSA, determine impediments to it, and develop recommendations for how the World Bank and other development agencies can help further facilitate it, the World Bank commissioned a set of political economy of regional integration studies covering sector analyses of agriculture, financial services, professional services, trade facilitation, and transport. This report summarizes the findings from the sector studies and suggests recommendations for further efforts in these areas by the World Bank and other development agencies. In a comparative context, the findings of the studies suggest cautious optimism for regional integration efforts in sub-Saharan Africa. Economic integration is more likely to succeed when it occurs alongside regional attempts at improving political stability and or developing joint infrastructure.
Republic of Congo Trade Facilitation Intervention: Trade Facilitation between Congo and Its Neighbors - Addressing the Bottlenecks
(World Bank, Washington, DC, 2015-05) World Bank Group
Trade facilitation is one of the key engines of growth in an economy. Improving the quality and reliability of the trade facilitation infrastructure and services is a major building block for reducing transaction costs, attracting domestic and foreign investment, and expanding access to economic opportunities. The Government of Congo, Rep. recognizesthat more needs to be done to address existing constraints to intra-regional trade. Indeed, efficient trade facilitation is central to achieving the objectives of Congo’s Vision 2025, whose overarching goal is to transform the country from a lower middle income economy to an upper middle income export-oriented economy. Attaining the country’s vision will require the addressing of at least three key constraints. Firstly, low investment in the development and maintenance ofthe country’s physical infrastructure; secondly, an insufficient and ineffective capacity to deliver therequired transport and port services; and thirdly, a lack of international competitiveness and export diversification. Addressing these constraints will catalyze the development of modern transport infrastructureand services, contributing to a reduction in the cost of doing business and thus increasing the country’scompetitiveness.Several policies and other interventions have been implemented by the Government to address the country’s trade facilitation challenges. Some of these interventions prioritize improving the quality and reliability of transport and port infrastructure and service, whichis critical for reducing transaction costs and attracting investments, contributing to the broader goals of inclusive growth by connecting rural communities toeconomic activities. This report aims to complement these efforts by making two key contributions. Firstly, it identifies thecore trade facilitation bottlenecks facing the country,and explores options for mitigating these challenges. Secondly, it presents an action plan covering both theexpansion of physical infrastructure and the developmentof transport sector structure, regulation, and institutional capacity; distinguishing between the short-and longer-term measures. The action plan is expected to strengthen the strategy for sustainable economic development and for informing dialogue on required reform measures. The report’s recommendations are also expected to support more inclusive growth, and also ensure that said inclusive growth is sustainable. It is hoped that the report’s findings will be used to inform the designand implementation of the measures required to promote trade facilitation.
The Republic of Benin Diagnostic Trade Integration Study Update: From Rents to Competitiveness
(World Bank, Washington, DC, 2015-05) World Bank Group
The Government of Benin has requested an update of the 2005 Diagnostic Trade Integration Study and has asked the World Bank to take the leading role in this exercise. The update’s objectives are to (a) take stock of progress in the mainstreaming of trade in the government’s national development strategy and of implementation of the Action Matrix recommendations; (b) complement and deepen the analysis in selected areas; and (c) revise and update the Action Matrix to take account of the evolving context since 2006. The aim of the analysis is to assist the Government of Benin in defining an overall competitiveness strategy for inclusive, job-creating export-led growth in accordance with the key priorities identified in the 2013 Plan Stratégique de Développement du Commerce (PSDC), and to further mainstream trade into the general policy orientation defined by Benin’s key policy documents, including the Growth and Poverty Reduction Strategy Paper (GPRSP) update. The DTIS Update (DTISU) offers a diagnosis, analytical framework and action plan, giving trade expansion a key role in the reduction of poverty and vulnerability. As mandated by the Paris Principles, the DTISU’s approach is strongly aligned with the MICPME’s PSDC (Trade Development Strategy Plan, henceforth TDSP) and draws also from the diagnosis in the Government of Benin’s recent poverty assessment (INSAE 2014) as well as the 2011 update of the GPRSP. It emphasizes the linkages between poverty, jobs, and trade with two key objectives: (i) reducing poverty through trade-led growth, and (ii) reducing vulnerability.
Republic of Sudan Diagnostic Trade Integration Study Update: Reducing Trade Costs to Increase Competitiveness and Rresilience
(World Bank, Washington, DC, 2014-10-31) World Bank Group
The Diagnostic Trade Integration Study (DTIS) update identifies priority actions in support of the Government of Sudan (GOS) commitment to increase trade and diversify the economy. The current study builds on the earlier 2008 DTIS by identifying the major factors holding back the increase of agricultural exports and economic diversification. The report identifies a package of measures that will support Sudan to more effectively realize its economic potential. The DTIS Update presents an updated action matrix that summarizes the recommended policy reforms. This matrix was validated with a wide variety of stakeholders in Khartoum in September 2014. Together, the action points will contribute to reducing trade costs, thereby enabling Sudanese enterprises and farmers to compete more successfully in regional and global markets and realize the GOS objectives of expanding and diversifying exports for increased economic growth. The recommendations accept that any changes in tariff schedules should be ‘revenue neutral,’ given the existing challenging fiscal situation.
Republic of Malawi Diagnostic Trade Integration Study Update : Reducing Trade Costs to Promote Competitiveness and Inclusive Growth
(Washington, DC, 2014-03-25) World Bank
The diagnostic trade integration study (DTIS) update identifies the trade related constraints holding back Malawi from diversifying and deepening its production base, and increasing trade. The DTIS update identifies and quantifies specific trade costs that determine the availability and price of inputs and the ability of producers to get their products to regional and international markets. The report focuses on tariff policies, regulatory issues impacting on trade, trade facilitation and logistics, and policies affecting agricultural trade and trade in services. Recognizing that the (enhanced) integrated framework and the DTIS (including the 2003 DTIS for Malawi) have not been effective in addressing many of the broader issues requiring large-scale physical investments in most countries, this DTIS update focuses on specific trade related policy and regulatory issues within the mandate and policy space of the ministry of trade and the national implementation unit or similar implementation mechanisms. In this context, the report is structured as follows: chapter one gives introduction. Chapter two outlines the current macroeconomic position and the level of trade openness, summarizes the status of the business enabling environment. Chapter three describes Malawi's current trade policy with a detailed review of the existing tariff schedules. Chapter four addresses a range of the key regulatory issues that raise costs for all producers in Malawi. Chapter five looks in depth at how the trade and regulatory policies within the agricultural sector impact on competitiveness. Finally, chapter six addresses the important issues of trade in services through focusing on professional services such as engineering, accounting, and law.
Economic and Statistical Analysis of Tourism in Uganda
(Washington, DC, 2013-07) World Bank Group
The Ministry of Tourism, Wildlife, and Antiquities (MTWA) instituted a sample survey of tourists exiting Uganda in 2012-the Tourism Expenditure and Motivation Survey (TEMS). This survey collected data on tourist expenditures, duration of stay, tourist activities, sites visited, levels of satisfaction, and suggestions for improvements in the sector. The purpose of this report is to present the results of the economic analysis of tourist expenditures, and the associated statistical analysis, to inform government decisions on how to increase the contribution that tourism makes to the growth of the Ugandan economy. The economic analysis of tourism based on the TEMS survey focuses on the impact of tourist expenditures on the economy. The scope is therefore limited to the impact of tourism exports, but these exports are important contributors to the development of the Ugandan economy, increasing foreign exchange earnings, and improving the balance of payments. The data show that leisure and cultural tourists spend 30 percent to 100 percent more than other types of tourists per visit to Uganda. This substantial difference in spending makes these tourists an attractive target in government efforts to increase the economic contribution of the tourism sector and reinforces the importance of strengthening the marketing of Ugandan tourism. The TEMS survey estimates that roughly 500,000 foreign tourists spent at least one night in Uganda in 2012, and nearly 75,000 of these were leisure or cultural tourists. In 2013 more than one million nonresidents visited Uganda, and it is estimated that about half of them of them stay at least one night. Tourists' overall satisfaction with their trip to Uganda is high. However, local transport in Uganda and insufficient visitor information are the most frequently cited sources of dissatisfaction and suggested areas for improvement.
Estimating Trade Flows, Describing Trade Relationships, and Identifying Barriers to Cross-Border Trade Between Cameroon and Nigeria
(Washington, DC, 2013-05-07) World Bank
Cameroon and Nigeria share a common border of nearly 1,700km and both countries have strong historical and cultural ties. However, the partnership between the two countries has had its difficult periods, most recently when the relationship turned hostile over the disputed Bakassi Peninsula, and economic linkages between the economies remain limited. Expanding trade between the two countries could play a critical role in accelerating economic development and regional integration by opening up new markets for producers, and allowing them to benefit from economies of scale. This will require reducing barriers to cross-border trade, allowing increased trade flows to reach the larger market, and permitting private sector producers to increase the scale of their activities. Removing barriers to trade between the two neighbors is likely to benefit particularly relatively remote areas of both countries. The study finds that regulatory and security barriers at the border and along the road remain key impediments to trade. The remainder of this report proceeds as follows. Section one describes drivers for cross border trade such as historical relations, economic factors, and the policy environment. The next section describes the reality of trade flows by describing existing trade corridors and estimating current trade flows. Section three describes how goods are actually traded across borders between the two countries, and how different actors are involved. Section four describes the barriers to trade, and identifies which barriers are most important. Section five describes the potential for increasing trade. Section six summarizes the findings and presents prioritized recommendations for policy reform.