Africa’s Marine Economies and International Trade: Challenges and Opportunities

Abstract Marine trade presents both opportunities and challenges to African countries as they strive to develop their economies. The continent is endowed with vast marine resources, which, if properly harnessed, can boost the continent’s trade. However, these resources have not been able to benefit Africa, as efficient exploitation of these resources has been marred by a myriad of challenges. Some of these challenges range from poor funding to poor governance and poor policy coordination at the continental level. Despite these challenges, vast opportunities are presented which include, including global trade competitiveness, modernisation of African ports to improve the flow of trade, improved exports of marine products, such as fisheries, and promotion of tourism trade. As these countries shift from closed to more open economies, they are expected to acclimate their trade and customs management to embrace wider regional trade arrangements and increasing duty-free areas. Addressing these challenges and leveraging these benefits is important to unleashing Africa’s full marine trade potential.