The Road to the SDGs

PURPOSE X Although the Arab and Africa regions are experiencing significant economic growth, there remains untapped potential to further develop regional trade, which will produce continuous economic growth and employment for both regions. X IsDB launched the Arab-Africa Trade Bridges (AATB) Programme in February 2017 to address some of the challenges faced in promoting trade and investment between the two regions and developing inter-regional business partnerships. X The AATB Programme benefits from the existence of the African Continental Free Trade Area (AfCFTA), one of the world’s largest initiatives for increasing both inter- and intra-continental trade. As of July 2019, 54 out of 55 states in the African Union had joined AfCFTA, which requires removal of up to 90% of members’ trade tariffs, and significant reductions in Non-Tariff Boundaries within the continent. X An important benefit of the AATB Programme is its potential to reduce participating economies’ dependence on commodity exports. By promoting growth that increases exports of higher value-added and less volatile products, the positive effects of trade can be enhanced, supporting sustainable and inclusive economic growth. X By catalysing growth in trade and investment where volumes are currently low, the AATB Programme is a high-impact tool to contribute to achieving higher economic integration through trade and investment. METHOD X The AATB Programme is a multi-donor, multi-country and multi-organisation initiative, aiming to: – Promote and increase trade and investment flows between all Arab and African countries – Provide and support trade finance and export credit insurance – Enhance existing capacity building tools relating to trade. X The programme is geared towards increasing economic integration and supporting sustainable growth across Arab and African countries. Specifically, trade promotion efforts focus on sectors where significant added value is created, especially in industries that rely on a more highly skilled workforce and those which can promote greater investment and knowledge diffusion. A major trade initiative geared towards increasing economic integration and supporting sustainable growth across Arab and African countries Arab-Africa Trade Bridges Programme Arab and African countries can benefit from the activities of the AATB Programme in developing trade and investment, especially in value- adding sectors that rely on a more highly skilled workforce and that can promote greater investment and knowledge diffusion [ 96 ] SDGs