ITFC to strengthen Senegalese exporters’ capacity

The International Islamic Trade Finance Corporation (ITFC) and Trade Facilitation Office (TFO) Canada have signed an agreement with the Senegalese Export Promotion Agency (ASEPEX).
The deal highlights the commitment of the ITFC and the TFO to strengthening the capacity of developing countries to access global markets for their exports.
This tripartite agreement also supports the international trade capacity and market access support program.
The scheme is a one-year technical assistance program benefitting trade support institutions and Senegalese small and medium enterprises (SMEs), which are looking to export their products to Canada and other foreign markets.
This year’s program consists of two components.
The first component focuses on a train-the-trainer model with the aim of developing an exporter-training platform for ASEPEX and other trade support institutions in Senegal.
The second component aims to strengthen the capabilities of SMEs and their products to be competitive in foreign markets.
This partnership aligns well with the mandates of TFO Canada and the ITFC to promote sustainable economic development. They provide crucial export information and organize trade partnerships.
“This program strengthens our progress in enhancing international trade capacities of our member countries,” said Hani Salem Sonbol, CEO of ITFC.
“Through the co-funding of this project with the government of Canada and partnership with TFO Canada and ASEPEX, we are investing in exporter training and international market access of the Senegalese SMEs,” said the CEO.
Steve Tipman, executive director of TFO Canada, said: “Investing in people reinforces TFO Canada’s commitment to contributing to economic development.”
Malick Diop, executive director of ASEPEX, said: “This partnership will empower and enable our country’s SMEs to capitalize on the Canadian Market Access Initiative, which gives Senegalese products duty-free and quota-free access to Canadian markets.”
He said: “We are proud to collaborate with TFO Canada, ITFC and other partners to expand our reach in building capacity within Senegalese companies to trade internationally.”
Since its inception in 2008, the corporation has been very active in Senegal with a total financing of more than $195 million provided to the country, in the key sectors of agriculture and energy.

Source: Arab News