The European Union (EU) has partnered with the International Trade Centre (ITC) to provide better trade and export development for Eswatini. The initiative aims to support the government of the Kingdom of Eswatini in export market analysis through the use of ITC’s market analysis tool, Trade Map. Trade Map is an online database of international trade statistics that has been providing useful indicators on export performance, international demand, alternative markets, and the role of competitors from different global markets since 2001. It covers the annual trade flows of over 220 countries and over 5,300 products.
Through the partnership, small businesses and private-sector associations in Eswatini will have access to Trade Map to facilitate their export market access and drive sustainable growth in the Kingdom of Eswatini. To equip business support institutions with knowledge and tools for analytical outputs and other international trade agreements, the EU and ITC are currently running capacity trainings for participants from Eswatini Investment Promotion Authority (EIPA), National Agricultural Marketing Board (NAMBoard), Eswatini Water and Agricultural Development Enterprise (ESWADE), Eswatini Economic Policy Analysis and Research Centre (ESEPARC), Eswatini Leather Association, COMESA Federation of Women in Business (COMFWB) Eswatini chapter, and Eswatini Multipurpose Cooperative Union (ESWAMCU).
The initiative is supported under the EU’s project, ‘Support Programme to the EU-SADC Economic Partnership Agreement (EPA) in the Kingdom of Eswatini,’ which specifically supports trade and export development to create EPA opportunities and support trade and investment promotion bodies and small businesses. The EU and ITC believe that the initiative will help further facilitate business and trade relationships across continents and help micro, small, and medium-sized enterprises to increase their visibility and market opportunities.
The Trade Map tool is expected to provide information that will put Eswatini in a better position to advise on available market opportunities. The tool will also provide an analysis of trends in terms of products that are doing well or that are being discontinued in global markets. The initiative has been positively received by Bongani Ntshangase, Executive Head of Trade, Eswatini Investment Promotion Authority, and Luis Miguel Pascoal, EU Programme Officer. They believe that this free-market access tool will contribute to driving growth and help small businesses and private-sector associations to increase their visibility and market opportunities.
INDIA NEWS: PUSH FOR INR TRADE PROMOTES INTERNATIONALIZATION OF FOREIGN TRADE
