Dubai, UAE – July 30, 2024 – THE ABRAHAMIC BUSINESS CIRCLE is thrilled to present the most recent effort to investigate how trade agreements affect international markets. This project is evidence of the goal of encouraging mutual understanding and sustainable economic progress among various business communities.
A key instrument in reshaping the world economy is the trade agreement. They promote economic cooperation between nations, open up markets, and reduce trade obstacles. The transformative effect of cooperation of this kind is exemplified by recent agreements such as the African Continental Free Trade Area (AfCFTA) and the Regional Comprehensive Economic Partnership (RCEP).
Key Facts:
- Regional Comprehensive Economic Partnership (RCEP): 15 Asia-Pacific countries, including China, Japan, and South Korea, signed the largest free trade pact in history in November 2020. It is anticipated to increase the world economy by $209 billion a year by 2030 and intends to remove tariffs on 90% of goods traded within the region.
- The African Continental Free Trade Area (AfCFTA): This initiative, which was introduced in January 2021, unites 54 African nations into a unified market for products and services. By 2035, it’s expected to boost intra-African commerce by more than 50% and help 30 million people escape extreme poverty.
These accords are a wonderful fit with The Abrahamic Business Circle’s objectives, which include fostering innovation, sustainable development, and economic cooperation. We can work toward a more successful and inclusive global economy by lowering trade barriers and promoting stronger economic relations.
The Abrahamic Business Circle’s founder and chairman, Dr. Raphael Nagel, stated: “Trade agreements are essential for determining the direction of international markets in the future. They give companies the chance to grow, adapt, and prosper in our globalized society. We at The Abrahamic Business Circle are dedicated to taking advantage of these chances to promote mutual understanding and economic progress among our various members.”
According to the goals of the organization, The Abrahamic Business Circle will hold a number of talks and events concerning the effects of these trade deals. One such event is the upcoming business conference in Zurich, “The World of Innovation.” These gatherings will provide a forum for industry executives, decision-makers, and specialists to share knowledge and investigate tactics for utilizing trade agreements to accomplish long-term expansion.
Come see us on September 27, 2024, in Zurich. This event is only to members. Go to the Abrahamic Business Circle’s website, Home 2024, for additional information.
Sources on the AfCFTA and RCEP:
- World Economic Forum on RCEP
- World Bank on AfCFTA
About The Abrahamic Business Circle:
THE ABRAHAMIC BUSINESS CIRCLE is a global network of entrepreneurs and business leaders dedicated to fostering economic diplomacy through cross-cultural cooperation. Our organization aims to create a sustainable impact on global economic growth by promoting innovation, investment, and collaboration among our members.
For more information about THE ABRAHAMIC BUSINESS CIRCLE and our initiatives, please visit www.theabrahamicbusinesscircle.com.
Contact: The Abrahamic Business Circle
contact@theabrahamicbusinesscircle.com
www.theabrahamicbusinesscircle.com