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Welcome to this edition of the Trade Finance Insight. In this edition, we lead with an in-depth interview with Dr George Elombi, Executive Vice President and Member of the Board at African Export-Import Bank (Afreximbank), on the African Continental Free Trade Agreement (AfCFTA). The interview will discuss the challenges of implementing the AfCFTA, the successes it has experienced so far, the anticipated opportunities it will bring to the region in mid to long term and the role Afreximbank is playing to contribute to its success.

Heightened sanctions and export controls targeting key technologies and the TMT sector are an important trend of recent years and reflect the current geopolitical climate. In this episode Anne Petterd, Frank Pan, and Alison Stafford Powell discuss the practical impact these sanctions have on TMT companies and what TMT companies should do in their strategic plans to de-risk their exposure.

On 28 March 2023, the Minister of Finance introduced Budget 2023, aptly titled a “Made-in-Canada Plan.” A key trade-related theme resonates throughout the Budget: futureproofing the Canadian economy to respond to realignment of global trade patterns. Budget 2023 highlights new policy based initiatives and legislative amendments to address, such as: the global race to net-zero economies and “industries of tomorrow”; “friendshoring” economies to limit dependence on authoritarian regimes for critical goods; domestic supply chain weaknesses; forced labor in Canadian supply chains; and circumvention of economic sanctions.