Togo Trade Agreements

Posted on: April 13th, 2021 by localoneway No Comments

7. In this context, in his September 1996 policy speech, the Prime Minister set out the country`s overall economic and trade policy objectives (see Section II()1) v) to revive development programmes for sustainable, sustainable and balanced economic growth and balanced economic and trade growth. The following programs are concerned: 40. Along with agriculture and trade, industry represents Togo`s long-term economic potential. Togo is one of 16 members of the Economic Community of West African States (ECOWAS). The ECOWAS Development Fund is headquartered in Lomé. Togo is also a member of the West African Economic and Monetary Union (UEMOA), which brings together seven West African countries with the CFA franc. The West African Development Bank (BOAD), which is linked to UEMOA, is headquartered in Lomé. Togo has long served as a regional banking centre, but this position has been undermined by political instability and the economic downturn of the early 1990s.

Historically, France has been Togo`s main trading partner, although other European Union countries are important to the Togolese economy. Total U.S. trade with Togo is about $16 million per year. This direction was aimed at strengthening the capacity of committee chairs, establishing a network of contacts between the chairmen of the national trade facilitation committees of different members and maintaining good cooperation with the organizations that will provide technical assistance to their respective national committees. 3. Ships of one of the contracting parties are free to surrender under the same conditions as the vessels of the other contracting party and under the same conditions as vessels from a third country that transport their cargoes to all ports, localities and waters of the other party, open to foreign trade and foreign navigation. These ships and cargoes are treated in all respects in the national treatment and in the ports, localities and waters of this other contracting party in most privileged countries; however, each contracting party may reserve exclusive rights and privileges for its own vessels with respect to coastal transport, inland navigation and national fishing. 48. In these circumstances, Togo, like African LDCs in general, has hardly participated in the multilateral trade negotiations of the Uruguay Round and has not participated in the official signing ceremonies of the Uruguay Round Final Act, held on 15 April 1994 in Marrakech, Morocco. – to also use the operational activities of the United Nations system in economic, commercial and social development.

The report concludes that technical assistance would enable Togo to identify the opportunities offered by the multilateral trading system and gain a better understanding of the scope of its commitments so that they are better met. Given that Togo`s ties fall short of the country`s services liberalisation efforts, such support could help broaden the scope of links in order to attract investors by giving them confidence in the irreversibility of the reforms.

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