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Export Promotion Strategies for Manufactured Goods: New Approaches to Trade Development in Africa

Guest post by: African Development Bank

Article Overview: It is well known that the gains from export of processed and manufactured goods are greater than those from exporting primary commodities largely because of the higher value added. Therefore most developing countries aim at supplementing the exportation of primary products with the export of manufactures, and eventually, like the Asian Tigers, concentrating on processed and manufactured exports.

Export Promotion Strategies for Manufactured Goods: New Approaches to Trade Development in Africa

It is well known that the gains from export of processed and manufactured goods are
greater than those from exporting primary commodities largely because of the higher
value added. Therefore most developing countries aim at supplementing the exportation
of primary products with the export of manufactures, and eventually, like the Asian
Tigers, concentrating on processed and manufactured exports.
It is apparent that specific steps and measures need to be adopted and implemented in
order for African countries to be successful exporters of manufactured goods in an
increasingly competitive global environment. To effectively pursue the trade policy in
industry, a number of constraints which currently impede the export of manufactured
goods must be addressed with the zeal they deserve. Among such constraints are:
· inadequate infrastructural facilities;
· excessive import dependence;
· lack of export awareness or culture of export among Nigerian manufacturing
establishments;
· policy instability and lack of predictability;
· significant price and exchange rate instability;
· low level and high cost of funds for industrial development;
· insufficient emphasis on R & D activities;
· inappropriate technologies; and
· ineffective regulatory institutions which manifest in e.g. ports difficulties, export
bottlenecks, bureaucratic delays and rent seeking.

It is clear therefore that Africa currently has export potentials in many lines of products.
Import of technology and adaptation of currently available techniques would permit entry
to other areas like assembly of electronic products and exportation of metal products.

African Development Bank
Economic Research Working Paper Series
Enhancing Africa’s Trade: From Marginalization
to an Export-Led Approach to Development
Milton A. Iyoha
Professor, Department of Economics & Statistics
University of Benin, Nigeria
Economic Research Working Paper
No 77 (August 2005)

Related Articles
  Export Promotion Policies in African Countries: New Approaches to Trade Development in Africa
  Concluding Remarks: Enhancing Africa’s Trade: From Marginalization to an Export-Led Approach to Development
  New Approaches to Trade Development in Africa
  4.4 References: Economic Report on Africa 2007
  Export Promotion Strategies for Primary Products: New Approaches to Trade Development in Africa

Article Tags: african countries, african development bank, asian tigers, bottlenecks, bureaucratic delays, department of economics, economic research, electronic products, exportation, global environment, import dependence, infrastructural facilities, insufficient emphasis, marginalization, predictability, professor department, regulatory institutions, university of benin, university of benin nigeria, zeal



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