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The region would get a similar financial boost if its exporters also gained unrestricted access to markets in the emerging economies. Together, this financial gain to the area would account for as much as 12% of the $19.4 billion that Africa received in aid in 2002.

It is true that sub-Saharan exporters already benefit from preferential access to the Quad markets, but African exporters' ability to take advantage of this is hampered by supply capacity constraints and high transaction costs.

Nonetheless, under the current system of multilateral trade, significant tariff walls exist against African exports. Unrestricted market access would be highly beneficial to sub-Saharan exporters at little cost to the importing markets.

Could extended preferences reward sub-Saharan Africa's participation in

Stephen N Karingi, Romain Perez and Hakim Ben Hammouda
World Economy, Vol 30 No 3, March 2007