Tunisia, Afreximbank Forge Deeper Partnership to Boost African Trade

Tunisia and the African Import-Export Bank (Afreximbank) are deepening their collaboration to bolster African commerce, with a particular focus on expanding Tunisian exports. A significant step in this partnership is the upcoming launch of a multi-service African trade center in Tunisia, which will also host a branch of Afreximbank.

This initiative is designed to significantly improve Tunisian products' and services' access to African markets. Afreximbank will provide crucial financial and technical support to Tunisian exporting and importing companies operating across the continent. The project aims to establish new financing mechanisms to aid these businesses in their cross-border operations.

The Tunisian Minister of Commerce and Export Development highlighted the strong existing partnership, particularly in supporting the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS). Tunisia was the first North African country to join PAPSS in February 2024.

Officials emphasized Afreximbank's vital role in financing economic projects, especially for small and medium-sized enterprises, and promoting intra-African trade. Tunisia's strategy involves supporting priority sectors and increasing the presence of its public and private companies throughout Africa, leveraging their service quality and international credibility. Discussions also touched upon major projects for African economic integration, including a continental land trade corridor that would utilize Tunisia's Ben Guerdane logistics zone and Ras Jedir border post as gateways to Libya and landlocked sub-Saharan African countries.

Afreximbank delegates expressed satisfaction with Tunisia's support for the new trade center and reaffirmed their commitment to expanding cooperation across both public and private sectors. They presented the bank's various financing tools, facilities, and guarantees available to institutions. Afreximbank, a multilateral financial institution with 52 member states, is a key financier for African governments and businesses, playing a critical role in intra-African trade, economic data provision, and industrial development.