TradeMark Africa receives $63 million from Netherlands to advance sustainable trade
The Government of the Netherlands, through its Ministry of Foreign Affairs, in a significant boost to global trade development, has announced a $63 million funding to TradeMark Africa, an aid-for-trade organisation.
This strategic investment will fuel TradeMark Africa’s Strategy 3, covering the period till 2030, aimed at driving green, sustainable economic growth, fostering innovative trade practices, and promoting inclusive trade across Africa. This move underscores the Netherlands’ commitment to enhancing economic opportunities, job creation and facilitating sustainable trade throughout the continent.
Marchel Gerrmann, Ambassador for Business and Development Cooperation at Netherlands Ministry of Foreign Affairs, said: “TradeMark Africa will significantly contribute to a more inclusive and prosperous trade landscape for the African continent, benefitting both African and Dutch businesses.”
The Netherlands’ contribution will be invested in strengthening trade systems so that they benefit local exporters, foster economic growth, and create sustainable livelihoods across diverse sectors.
This investment will be instrumental in improving market access for local products at the global level, in addition to bolstering initiatives that drive innovation, research, and development within the African market, enhancing competitiveness and green trading practices. As part of its Africa Strategy, the Netherlands contributes towards the implementation of the African Continental Free Trade Area (AfCFTA).
The AfCFTA is expected to boost intra-African trade over 30% by 2045 and is projected to provide an average extra 2.7% GDP boost across the continent. The AfCFTA could lift 30 million Africans out of poverty by 2035, offering market opportunities to both African and Dutch businesses.
David Beer, CEO of TradeMark Africa, said, “TMA’s long relationship with the Netherlands has delivered substantial, concrete results in reducing the cost and time of trade across East Africa. We are excited to continue this partnership, in focusing on the trade challenges of the coming years – not least ensuring Africa is a pioneer in green trade, and that the benefits of trade corridors reach people and geographies in most need of the economic boost that they bring. These programmes will contribute to a thriving, resilient and inclusive trading landscape.”
