TANEXCO Blog
Let’s talk about Managing those Resources
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Trade and Protectionism
Posted on March 23rd, 2009 138 commentsGlobal trade flows are set to shrink by 9% during 2009, according to a forecast by the World Trade Organization (WTO). Hardest hit will be developed nations, where trade is set to fall 10%. Poorer countries will see exports fall 2-3%. The WTO blames the deepening recession for the downturn, but says trade could be “a potent tool” for recovery. WTO Director-General, Pascal Lamy, called on global leaders to fight protectionism. He warned that the use of protectionist measures was on the rise. But shouldn’t African economies be protected so that they would not become victims of the global recession created by the developed countries?
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Socially Responsible Mining
Posted on March 17th, 2009 234 commentsThe former UN Secretary General, Kofi Annan, once urged African leaders to ensure the extractive industry and exploitation of natural resources benefited the people of the continent when he addressed Heads of State at the African Union summit. From the gold mines in Ghana, to diamond extraction in Sierra Leone, to cobalt extraction in DR Congo, there is a feeling that what is taken from the ground does not benefit the people that live in those areas. Can mining projects become symbol of promise in Africa? We believe that mining companies should be socially responsible by paying the closest attention to the social, economic and environmental needs of local people affected by their operations. Mining Companies should help Africa add value to its raw materials, and create hundreds of jobs, by improving infrastructures and building refineries to transform resources like bauxite into alumina.
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Energy Politics
Posted on March 16th, 2009 189 commentsEnergy politics have become more complex. Access to energy is critical to sustaining growth in emerging countries – not only to lift these countries out of poverty, but to keep pace with the growing populations. These factors have turned the market power of energy suppliers into political power. Importers compete for supplies, driving up prices; suppliers’ wealth and the capacity to play roles in regional and international politics go well beyond the GDP of their countries.
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Global Market
Posted on March 3rd, 2009 67 commentsMost of the world merchandise trade is funded by trade finance. But we are now facing a crisis of cash and confidence. The World Trade Organization insists that demand for trade finance is outstripping supply. Development Banks and Export-Import Banks that finance trade are facing funding difficulties themselves, making it hard for companies to obtain trade finance. We believe it is time for Governments to put trade finance as priority on their agendas.