The Government of the
Netherlands, through its Ministry of Foreign Affairs, in a significant boost to
global trade development, has announced a $63 million funding to TradeMark
Africa, an aid-for-trade organisation.
This strategic investment will
fuel TradeMark Africa’s Strategy 3, covering the period till 2030, aimed at
driving green, sustainable economic growth, fostering innovative trade
practices, and promoting inclusive trade across Africa. This move underscores
the Netherlands’ commitment to enhancing economic opportunities, job creation
and facilitating sustainable trade throughout the continent.
Ambassador for Business and
Development Cooperation at Netherlands Ministry of Foreign Affairs, Marchel
Gerrmann, said: “TradeMark Africa will significantly contribute to a more
inclusive and prosperous trade landscape for the African continent, benefitting
both African and Dutch businesses.”
The Netherlands’ contribution
will be invested in strengthening trade systems so that they benefit local
exporters, foster economic growth, and create sustainable livelihoods across
diverse sectors.
This investment will be
instrumental in improving market access for local products at the global level,
in addition to bolstering initiatives that drive innovation, research, and
development within the African market, enhancing competitiveness and green
trading practices. As part of its Africa Strategy, the Netherlands contributes
towards the implementation of the African Continental Free Trade Area (AfCFTA).
The AfCFTA is expected to boost
intra-African trade over 30 per cent by 2045 and is projected to provide an
average extra 2.7per cent GDP boost across the continent. The AfCFTA could lift
30 million Africans out of poverty by 2035, offering market opportunities to
both African and Dutch businesses.
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