POTENTIAL EFFECTS OF LIBERALIZATION OF THE WORLD AGRICULTURAL TRADE FOR THE AGRI-FOOD SECTOR OF ECONOMIC COMMUNITY OF WEST AFRICAN STATES (ECOWAS)
Abstract
The state of agri-food trade in two selected trade blocs from the African region was presented in the paper. Moreover, the possibilities of development of trade, production, demand and prices in agri-food sector of ECOWAS countries in view of changes caused by further liberalization of the world agricultural trade were discussed. A general equilibrium model Global Trade Analysis Project was used in the research to make the projections. The results of the analysis showed that a greater degree of liberalization of the world agricultural trade could cause an increase in the value of export and import of certain plant origin products, as well as may contribute to the decline in production and prices for these products.
Keywords
foreign trade; export; import; agri-food products; liberalization of agricultural trade; ECOWAS; COMESA
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