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Hilbroy Advisory: African $875 billion trade bloc to draw in Comesa, EAC and SADC
Hilbroy Advisory: African $875 billion trade bloc to draw in Comesa, EAC and SADC
The proposed free trade area would join three existing, and sometimes overlapping, blocs to maximize Africa's budding economic prospects.
Montreal,
Quebec,
Canada
(prbd.net)
14/06/2011
Montreal, Quebec, June 13th, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: The new bloc would integrate the Common Market for Eastern and Southern Africa, the East African Community and the Southern African Development Community, an idea first backed in 2008.
Jacob Zuma, South Africa's President, spoke of the aspiration at yesterday's launch of SADC talks: "We meet fully conscious of the collective responsibility we bear towards Africa's founding fathers to create a single continental market of real economic value."
The proposed free trade area would join three existing, and sometimes overlapping, blocs to maximize Africa's budding economic prospects.
The International Monetary Fund expects Africa to grow faster than the global average in the coming years.
Six of the world's 10 fastest-growing economies last year are on the continent.
The new FTA would bring together the continent's most developed economies of South Africa and Egypt and some of its most energetic, such as Angola and Ethiopia.
Said Sindiso Ngwenya, general secretary of the Common Market for Eastern and Southern Africa: "This tripartite is blazing a path to be followed by other regions in Africa in realising the dream of a united Africa.
The combined GDP of the 26 countries was expected to reach $US1 trillion in the next two years, the COMESA executive said.
"There are a number of areas where, by building on the work already done by member and partner states, working regionally, we can expect quick wins," he said.
But the pact faces immense hurdles: tariff barriers, poor infrastructure, weak supply chains and economies that are often largely reliant on natural resources rather than manufactured products.
And the bloc includes countries hit by conflicts, coups and political turmoil, such as Libya, Madagascar, Sudan and Zimbabwe.
New World Bank research says trade within southern African accounts for just 10 per cent of the total in the region, compared to 60 per cent in Europe and 40 per cent in North America.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
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About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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