Facilitating Regional Trade: Lessons from WAEMU and EAC on How to Increase Trade in CEMAC
Nguenkwe, Ronie Bertrand
African Economic Research Consortium
This study explores the ways of facilitation and enhancing intra-CEMAC (Central African Economic and Monetary Community) trade, which has remained structurally weak over more than 20 years, by focusing on the East African Community and the West African Economic and Monetary Union (WAEMU). The study uses a descriptive analysis of trade and the indicators of facilitation of trade in those three communities. An econometric analysis of factors underlying the level of trade in those three communities is conducted using an augmented gravity model. The econometric results demonstrate that the number of documents and the number of days required to export has a negative and significant impact on trade in EAC and WAEMU, but a positive impact in CEMAC. Infrastructure services, notably the use of the Internet have a negative impact on intra-zone trade in EAC.