Summary
Fears of a global recession and a clear decline in demand for raw materials and commodities have cast a harsh spotlight on the economies of the sub-Saharan Africa region. With its heavy reliance on exports of primary goods, the region is disproportionately exposed to the global slowdown. According to the Southern African Development Community (SADC), trade between its member states and Western countries grew by over 6% a year to $120 billion during the decade to 2005. To help boost intra-regional trade, the East African Community and SADC are trying to develop customs structures that will encourage cross-border goods flow. Further complicating efforts to build intra-regional trade is the fact that many -- if not most -- of the nations in Southern Africa already have existing trade agreements with countries outside the region. The region's internal trade is heavily skewed toward intangibles such as tourism, electricity and telecommunications and to agricultural produce.
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Extract
An Uphill Battle
Fears of a global recession and a clear decline in demand for raw materials and commodities have cast a harsh spotlight on the economies of the sub-Saharan Africa region. With its heavy reliance on exports of primary goods, the region is disproportionately exposed to the global slowdown. In other regions around the world, intra-regional trade is expected to take up some of the export sla...
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