Latest
African nations could lose $420m in a no-deal Brexit
Morocco, Ghana and Tunisia are among African nations that would lose the most if the U.K. doesn’t negotiate a deal by the time it has to exit the European Union, according to a study by a United Nations agency.
Total export losses from 20 African countries could be as much as $420 million, according to the UN Conference on Trade and Development. The study shows 11 nations on the continent would boost their exports by a total of $3.66 billion, led by South Africa, Mauritius and Botswana.
Bloomberg reports that some African countries stand to gain from a no-deal Brexit, others not
“A no-deal Brexit could damage smaller economies trading with the United Kingdom,” the agency said in a statement. The U.K.’s intention to lower most-favored-nation tariffs could increase the competitiveness of some of its trading partners, UNCTAD said.
Many developing nations exports enjoy favorable market access to the U.K. thanks to bilateral trade agreements and because of EU unilateral preferential schemes.
“Countries wanting to retain this market access need to negotiate — and quickly — with the U.K.,” UNCTAD said.
-
News5 days agoWidow of late investigative broadcaster Kola Olawuyi dies
-
Crime5 days agoOutrage as NYSC doctor allegedly dies after delay in approving sick leave
-
Latest3 days agoOne killed as ethnic clash erupts in Ibadan following reported overnight stabbing (video)
-
Latest4 days agoLagos arrests 396 beggars in fresh crackdown on street begging (Video)
-
Energy6 days agoGas flaring takes toll on children, residents in Rivers oil-producing communities
-
Aviation4 days agoNIS issues updated guidelines for contactless passport renewal for Nigerians abroad
-
Aviation5 days agoCould you prove that bag is yours? The precautions that could protect you from a travel nightmare
-
Latest6 days agoJonathan rejects political bribery allegation ahead of 2027 elections