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Fostering Development Through Trade Finance Brochure - Full Version
Trade is the cornerstone of economic development by African countries. Botswana, Mauritius and Namibia have all transformed themselves from low income into middle income countries by improving their ability to trade in regional and global markets. Yet the continent as a whole can greatly strengthen its trading position in order to improve living standards and economic growth. Africa accounts for just 3 per cent of global trade and has a lower proportion of intra-regional trade than any other part of the world. The continent remains overly dependent on the export of raw materials, so that growth levels fluctuate in line with international commodity prices.