The Dutch government, via its Ministry of Foreign Affairs, has allocated USD 63 million to TradeMark Africa, an organization that champions aid-for-trade initiatives. This funding aims to support TradeMark Africa’s Strategy 3 until 2030, focusing on promoting green, sustainable economic growth and inclusive trading practices across Africa. This contribution reflects the Netherlands’ dedication to improving economic prospects, job creation, and sustainable trade throughout the continent.
Ambassador Marchel Gerrmann highlighted the initiative’s potential to make African trade more inclusive and prosperous, benefiting both African and Dutch enterprises. The funds will enhance trade systems to support local exporters, stimulate economic growth, and create sustainable jobs in various sectors. It will also improve global market access for local products and support innovation, research, and development in Africa, thus increasing competitiveness and eco-friendly trade practices. Furthermore, this investment aligns with the Netherlands’ efforts to support the African Continental Free Trade Area [AfCFTA], expected to increase intra-African trade by over 30% by 2045 and significantly boost the continent’s GDP.
David Beer, CEO of TradeMark Africa, expressed enthusiasm for the continued partnership with the Netherlands, emphasizing its impact on reducing trade costs and time in East Africa. He looks forward to addressing future trade challenges, including pioneering green trade and ensuring the economic benefits of trade corridors reach those most in need. These initiatives aim to foster a vibrant, resilient, and inclusive trade environment in Africa.