Importance of Universal Services in the Changing Global Trade Landscape
Universal Services can provide a one-stop shop and clearing house for inter-Africa-BRICS trade. This is especially important in the context of recent developments in the multilateral trading system. The new Trump administration is changing rules of international trade and Europe is not as dynamic a trading power as it once was. On the other hand, East Asia has increasingly become the centre of global manufacturing hub. BRICS countries comprising …. are an important element of the new international trade equation. According to available data, in 2022, BRICS countries accounted for more than 40% of the world’s population and more than 32% of global GDP. They are also accountable for 18% of global trade and attract more than 25% of global foreign investment. The number of African countries that have either become full BRICS members or partner countries has also risen. South Africa, Ethiopia, and Egypt are full members while Algeria, Nigeria and Uganda are BRICS partner countries. These 6 countries probably account for more than half of Africa’s total population and Africa’s GDP. South Africa, Nigeria, and Egypt are Africa’s largest economies. These African countries trade amongst themselves under the African Continental Free trade Area. A successful implementation of AfCFTA will thus have the potential to increase intra-Africa trade by more than 30 per cent while halving the trade deficit of the Africa continent.
Opportunities of BRICS-AfCFTA collaboration For African Trade & Development
We concentrate our trade and development activities on the marketing, selling, processing and distributions of FoThe evidence has been clear for a while that African countries must not only increase trade among themselves but must also diversify their trade and export destinations. The overlapping membership of African countries in BRICS and AfCFTA provides an immense opportunity to achieve this goal. A BRICS-AfCFTA collaboration/cooperation could present many opportunities to create the conditions, partnerships and support necessary for the economic development and progress of African countries. Through BRICS – AfCFTA, the BRICS countries and African countries have the opportunity to work together to harness their combined market and production power at both the state and private sector level. UNIVERSAL Services is well positioned to assist African countries to take advantage of the overlapping membership to promote intra-African BRICS trade and Inter BRICS-AfCFTA trade. Significantly in the last couple of decades to present new challenges for emerging and developing countries, particularly following the COVID-19 pandemic.od, Commodities, Minerals and Gemstones.
Presently located in South Africa, Ethiopia, and Ghana we cater for the three Major Economic Trade Blocs of Southern, Western and Eastern Africa, creating a Triangular African Trade initiative between COMESA, ECOWAS and SADC. This facilitates the movement of African products within the continent
Leveraging Overlapping Memberships to Boost Intra-African BRICS Trade & Development
UNIVERSAL Services is well positioned to assist African countries to take advantage of the overlapping membership to promote intra-African BRICS trade and Inter BRICS-AfCFTA trade. The evidence has been clear for a while that African countries must not only increase trade among themselves but must also diversify their trade and export destinations. Through BRICS-AfCFTA, the BRICS countries and African countries have the opportunity to work together to harness their combined market and production power at both the state and private sector levels. A successful implementation of AfCFTA will thus have the potential to increase intra-Africa trade by more than 30 per cent while halving the trade deficit of the Africa continent.
