Impact Of Trade Reforms And Market Reforms In Africa

Impact of trade reforms and market reforms in Africa has differed across countries depending on whether they are open or closed. The article below states the various reforms, which were encompassed by the country in order to bring about reforms pertaining to trade as well as market conditions.
It also says that the same conditions do not exist in all the countries of the African continent. Starting from trade liberalization to removal of tariffs and non tariffs are included in the sections below. Several structural adjustment programs were implemented in Africa to bring about stabilization in the economy.

Market liberalization was one such program. Impact of trade reforms and market reforms in Africa has been different for countries with an open economy and with that of an economy where trade is restricted. Impact of trade reforms and market reforms in Africa is further affected by liberalization in trade.

Still better if the above reforms are accompanied by macroeconomic reforms too. Reforms in the country are presently in various phases of transition and no two country have the same reforms. The reason being that the existing conditions in every country is different from one another.
It was observed that there might be a dispute about the availability of food products to the consumers at a lower cost and at the same time maintaining an optimum cost for the producers too. The government has adopted a policy whereby an artificial increase in price has been implemented for the producers whereas the price for the consumers have been reduced.
Market reform in Africa:

The main market reform in Africa comprised the following:
The private sector is involved in matters related to managing outputs as well as inputs, licensing. The existing barriers were lifted.
Consumer prices as well as producer prices were deregulated.
One of the market reforms was eliminating monopoly by officials and allowing the country to face competition globally.
The processing enterprises as well as the state marketing enterprises were privatized.
Subsidies were eliminated and so were the taxes.

Trade reform in Africa:
Trade liberalization was one of the main programs adopted by the government in Africa.

The other spheres of reform in the trading sector were as follows:
Procedural barriers pertaining to free trade like import licenses were eradicated.
Taxes pertaining to export activities and levies on import activities were eradicated.
Another impact of trade reforms and market reforms in Africa comprised the strict compliance with the CET or the Common External Tariff as per instructions laid down by the World Trade Organization or the WTO.
Non tariff as well as tariffs related to intra regional trade were eradicated.


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Last Updated on : 26th June 2013

Last Updated on : 26th June 2013

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