**The Kinshasa International Fair: A springboard for the economic transformation of the DRC?**
The 46th edition of the Kinshasa International Fair (FICKIN), held on January 3, 2024, attracted attention not only for its longevity, but also for the relevance of its debates. At the heart of the discussions, economics professor and national deputy Godé Mpoy highlighted a crucial issue for the economic development of the Democratic Republic of Congo (DRC): the optimization of commercial transactions through better taxation and trade facilitation. His intervention calls for a more global reflection on the reforms necessary to position the DRC as a key player in international trade.
### A Contextual Analysis
The Democratic Republic of Congo, despite its immeasurable wealth of natural resources such as cobalt, diamonds and copper, faces structural challenges that hinder its growth. Far from being inevitable, this is rather a call for proactive transformation. Delays in customs procedures, as Godé Mpoy mentioned, do not only affect private economic actors; they have a domino effect on the country’s competitiveness in international trade. Moreover, a World Bank study indicates that logistics costs in sub-Saharan Africa are up to 3 times the world average, which underlines the need for structural reforms.
### Comparison with other African nations
Let’s take the example of Rwanda, which has masterfully managed to optimize its customs and administrative processes. With a trade facilitation policy adopted in the 2000s, Rwanda has reduced customs procedure times from 14 days to an average of 3 days today. As a result, the country has become a logistics hub in East Africa, attracting foreign investment and stimulating its private sector. The DRC, through FICKIN, could draw inspiration from these good practices while recognizing its geographical and economic particularity.
### The Importance of the Informal Economy
Another angle often overlooked in these speeches on trade facilitation is the importance of the informal economy, which represents a significant part of the Congolese economy. Indeed, according to unofficial estimates, nearly 70% of trade in rural areas is done informally. If the DRC wishes to streamline its international trade, it must also take into account this often marginalized sector while it plays a vital role in the purchasing power of the Congolese. Appropriate regulation and integration of the informal economy into legal trade circuits could generate significant benefits both at the fiscal and economic levels..
### Challenges of Integration into Global Value Chains
One of the main points raised by Professor Mpoy is the integration of the DRC into global value chains. To do this, it is not enough to reduce administrative and customs formalities. The effective implementation of strategies such as the development of modern infrastructure, training of the local workforce and access to digital technologies is essential. For example, the African Continental Free Trade Area (AfCFTA) initiative could offer unprecedented opportunities for the DRC, provided that measures are taken to strengthen the supply chain.
### In Conclusion: Vision and Action
The FICKIN could therefore serve as a catalyst to initiate a dialogue around these crucial issues. However, political will will have to be accompanied by the mobilization of financial, technical and human resources to implement the necessary reforms. Experts agree that the time is right for the DRC to transform its commercial potential into an engine of sustainable growth. As a key player on the international trade scene, the DRC can, and must, position itself among the champions of economic integration on the continent.
It is in this context that Fatshimetrie.org could play a leading role as a platform for reflection and communication on economic and commercial issues, by offering relevant and current analyses on global market dynamics and opportunities specific to the DRC. Only an integrated and proactive approach will allow the DRC to emerge from the shadow of its challenges to embrace sustainable and inclusive growth.