The African Export-Import Bank (Afreximbank) signed a Memorandum of Understanding (MoU) with the World Trade Organisation (WTO) to amplify the impact of their strategically aligned joint efforts of promoting global trade leveraging Africas unique resource endowment.
The MoU is expected to allow the two organisations to pursue a collaborative framework for harmonising and coordinating their efforts towards deepening key trade development activities on the continent.
Afreximbank and the WTO are part of an inter-agency partnership that is championing transformative change in the cotton industry in Africas Cotton-4 plus (C4+) countries, which include Benin, Burkina Faso, Chad and Mali, as well as Cte dIvoire as an observer.
The MoU will allow Afreximbank and the WTO secretariat the opportunity to expand and deepen their collaboration to support the cotton sector beyond the C4+ countries.
Their support will entail development of local and regional value chains of cotton in Africa, as well as their integration into the global value chain.
