Moreover, World Bank research shows
that SSA stands to gain from internal trade
liberalization. Denis Medvedev of the World
Bank’s Development Prospects Group has
estimated the welfare gains that SSA would
receive from simple tariff liberalization
among countries in SSA.74 He estimated that
by 2015 annual welfare growth in SSA would
be US $1.746 billion greater than it would
have been had no intra-SSA trade liberalization
taken place.75 That would amount to
36.4 percent of welfare gains that SSA stands
to receive from full liberalization of global
merchandise trade (US $4.8 billion). Intra-
SSA trade would increase by 54 percent—an
increase of US $12.6 billion.