Togolese President attends Leaders Summit in Washington on Biden’s invitation

Economic governance

Tuesday, 13 December 2022 14:53

Togolese President attends Leaders Summit in Washington on Biden’s invitation

(Togo First) - Faure Gnassingbe, the President of Togo is currently in Washington, US. Invited by Joe Biden, the Togolese leader represents his country at the Leaders Summit which is taking place in the American capital on December 13, 14, and 15. The Togolese presidency disclosed the news on December 12, 2022.

"This high-level international meeting takes place in a particular global context, marked by economic, health, and security crises. The participants will reflect together to adjust the priorities of cooperation in the face of contemporary challenges that affect all countries,” the presidency wrote in its statement.

The meeting should pave the way for a stronger partnership between Togo and the US, one “which will be based on common values of peace, democracy, human rights, and development.”

Around 50 African delegations are expected at the Summit. While this meeting will give African leaders an opportunity to discuss their concerns and needs, it should enable the United States to grow its influence in Africa, at a time when the competition–commercial and geopolitical–with other powers like Russia and China is getting tougher in this part of the world.

A business forum in the US

During the event, the Togolese delegation will also work to bolster its partnership with American businesses. “On the sidelines of the Leaders Summit, the Togolese delegation will participate in a business forum designed to promote the commercial partnership between the United States and African countries”, the Togolese presidency said.

Togo, like it has been doing with other countries in recent years, will use this opportunity to explore its foreign investment options in the US.

"Increasing investment flows, promoting innovation, digital transformation, food security, and climate sustainability will be among other topics to be discussed during the panels" the same source added.

The day before the Summit opened, the Biden administration announced that the US would commit $55 billion to Africa over the next three years.

Ayi Renaud Dossavi

REFORMS OVERVIEW

STARTING A BUSINESS (more info)

At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

ENFORCING CONTRACTS (more info)

Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

TRADING ACROSS BORDERS (more info)

In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

After moving from the 133rd to 127th place under the 2020 Doing Business’ construction permit index, Togo intends to reiterate this feat in the coming edition of the global ranking. To this end, it has introduced this year multiple reforms.

GETTING ELECTRICITY (more info)

Over the past two years, Togo’s ranking under the Doing Business’ Getting electricity and water indicator has increased consistently. Owing this performance to multiple reforms aimed at making it easier for businesses to access power and water, Lomé plans to introduce even more reforms this year to keep up its improvements.

REGISTERING A PROPERTY (more info)

Out of all the 'Doing Business’ indicators, Property Registration is where Togo has improved the most since 2018. Indeed, after spending years in the lowest part of this ranking, the country now seeks to beat Rwanda which is the best performer on this index in Africa. To do so, Lomé has been introducing many reforms, with the latest batch implemented this year.

PUBLIC PROCUREMENT (more info)

From professionalization to digitization, through legislative regulations, Togo’s public procurement framework is constantly being modernized. Several reforms have been implemented to improve the sector much to the benefit of the private sector, which is the focus of the National Development Plan.

PAYING TAXES AND DUTIES (more info)

To improve its business environment, Togo introduced some important reforms related to the payment of tax and duties. From the replacement of some taxes to the cancellation of others through exemptions, the country has only one objective: offer the most attractive tax framework to investors and economic operators. To achieve this, the authorities relied on digitization.