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W'Africa IMT to Host Trade Forum Amid Shifting Global Dynamics - THISDAYLIVE

Published 2 weeks ago2 minute read

As global trade faces unprecedented shifts driven by rising tensions between major economies, the ripple effects are being felt across supply chains, sourcing strategies, and economic alliances.

The ongoing tariff standoff between the United States and China, including the imposition of duties as high as 145%, is forcing global manufacturers and buyers to reassess their sourcing strategies and trade partnerships. But within this disruption lies a rare opportunity.

Regional integration efforts, led by the African Continental Free Trade Area (AfCFTA), are gaining traction. From Ghana’s expected boost in regional export by 6 percentage points, to Senegal’s growing textile industry and Côte d’Ivoire’s leadership in cocoa processing and trade, the building blocks of Africa’s next industrial chapter is taking shape.

Nigeria is also not left out of the mix as recent remarks from the Minister of Finance, Wale Edun, have added renewed clarity to conversations around global trade tensions and their implications for Africa.

Speaking ahead of the event, Portfolio Director, Africa, dmg events, Wemimo Oyelana, noted “The ongoing global trade tensions present a critical opportunity for Africa to reset its trade strategy, prioritising intra-continental partnerships and diversifying its international trade mix. The West Africa IMT Summit and Exhibition will bring together senior stakeholders from across the continent to chart a course for a resilient and sustainable industrial revolution in the region. Key discussions will focus on creating an enabling environment for investment, unlocking capital, fostering regional value chains, and accelerating infrastructure and energy development to power industries sustainably. As Africa redefines its place in the global economy, this summit  is pivotal in shaping its industrial future.”

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