We at the ECA recognize that much needs to be done to enhance the capacity of Africa to be effectively integrated into the globalizing and liberalizing world economy, to reap its benefits. We recognize that improvements in trade financing have to be complemented by improved trade-related facilities. Accordingly, the ECA intends to devote time to helping African countries to develop trade-related services. Governments ought to recognize that in order to help expand trade and trade related financing, they have to facilitate the setting up of private sector service providers. It is crucial that the private sector is enabled and encouraged to play its proper role as the engine of economic growth in Africa.
Trade is efficient when business information is timely and affordable.
Firms remain competitive when they can stay well informed about market opportunities. Increased marketing is also a key to improved competitiveness for Africa's exports. The United Nations has recognized that improved guidelines in customs, banking, insurance and telecommunications will encourage more efficient trade and reduce transaction costs. We look forward to working with strategic partners in this important endeavour, including the Africa ExIm Bank. As you may know, we at the ECA are currently undergoing a process of change and renewal, with a view to Serving Africa Better .