Check out the Top 10 Oil Rich African Countries --- https:///2MjM7KC

The second most populous continent in the world, Africa has a lot of mineral deposits on her land and is blessed with enormous amount of crude oil.

Currently, there are 500 companies that are participating in Africa's hydrocarbon exploration. The continent's history of oil stretches back several decaded and in some places, it is century old.

1. Angola

Angola is one of the largest oil producers in Africa. It produces an averages of 1.9 million barrels per day. Internationally, Angola ranks seventh and this shows that they are a powerhouse when it comes to oil production. This has greatly improved Angloa's economy coupled with the fact that they also have well-established platforms that encourages investors into the oil industry.

2. Nigeria
Nigeria has a very high rate of production and a force to reckon with in the oil production industry. Nigeria has the largest 2nd oil reserves. The country produces oil of high quality and is quite popular with European and US refiners.

3. Algeria
Algeria another big player in Africa and according to sources, by the end of 2012 Algeria had an estimated 12.2 barrels of oil reserves. Though Algeria faces a number of challenges both politically and economically, it is still able to produce an average of 12.1 million barrels per day.

4. Libya
It is not a chance that the Libyan economy is among the most hydrocarbon dependent. Even by facts, the oil and gas industry does account for almost 70% of its GDP, approximately 97% of the export earning, and about 90% of fiscal revenues. Libya produces an average 1.7 million barrels daily.

5. Egypt
For a while now Egypt's oil production had been declining, an offset being the development of the natural gas industry, which since this period the natural gas production has increased enough to cater for the ever-increasing consumption level, it is still among the top oil-producing countries in the continent.

6. Sudan
At the sixth spot in Sudan. It manages to produce about 487,000 of oil per day. Oil is definitely one of the biggest economic activities of Sudan. Though it ranks up with the top, the country has not been able to fully tap into the oil industry well with so many sacietal issues always arising that recently caused the country to separate into twi different nations.

7. Equitorial Guinea
This great country is at the seventh spot closely on the tail of Sudan. The country's oil rings are placed off the coast making exportation quite easy. The industry supports a good share in the economy while producing an average of 346,000 barrels per day.

8. The Republic of Congo
It is true that the republic of Congo faces an unfortunate number of government and economic challenges, it still manages to produce amount of oil to be able to appear in the top ten oil rich countries.

9. Gabon
Gabon is able to produce an average of 241,700 barrels of oil in a day. Unfortunately, Gabon's mainland is covered by the rainforest and its offshore geology is very complex among the issues that have led to the slow increase in the production of oil. They are still a country rich in oil and have a potential for growth if well harnessed and technology is embraced at full scale.

10. South Africa
Producing an average of 190,000 barrels of oil per day, South Africa is among the richest African economies and highest oil producing countries in Africa. Due to the country's stable economy, the oil industry has seen tremendous increment compared to when it began.

In conclusion, Africa is a continent that will for a long time hold a good position among the top oil producers in the world, and yet more potential still has to be unlocked and tapped in.

What are the Best Currency Pairs to Trade?

Name a market that never closes, has the largest volume of the world's business with people from all countries of the world participating every day.


Yes, you guessed right – the foreign exchange market. The market has arisen from the need for a system to facilitate the exchange of different currencies around the world in order to trade. It is the premier financial market in the world which reflects the financial dynamics of world trade quite clearly.

All trade here is a trade-off between the pairs of currencies from two different countries.
The famous phrase money never sleeps – coined by the well-known Hollywood movie Wall Street – sums up the foreign currency exchange market perfectly. No matter what time of day, the Forex market will stay open and close in order to facilitate uninterrupted currency trading.

When you begin to trade Forex online, you may find yourself overwhelmed and confused by the sheer number of available currency pairs inside your MetaTrader 4 trading terminal. What are the best currency pairs to trade?

The answer isn't so straightforward as it varies with each trader. Instead, you need to take the time to analyse different pairs against your own strategy to determine which are the best Forex pairs to trade on your own account. This article will briefly describe what currency pairs are and assist you in identifying the best Forex pairs to trade. It will also explain what Forex majors are and whether they will work for you.

What are currency pairs?
Forex trading – or foreign exchange trading – is all about buying and selling currencies in pairs. For the buying and selling of currencies, you need to have information about how much the currencies in the pair are worth in terms of the other. This relationship is what defines a currency pair. A currency pair quotes two currency abbreviations followed by the value of the base currency based on the currency counter.

There is an international code that specifies the setup of currency pairs. For example, a quote of EUR/USD 1.23 means that one Euro is worth $1.23. Here, the base currency is the Euro (EUR), and the counter currency is the US dollar. Thus, each currency pair is listed in currency markets worldwide.

Are majors really the best currency pairs to trade?
Not surprisingly, the most dominant and strongest currency, as well as the most widely traded, is the US dollar. The reason for this is the size of the US economy, which is the world's largest. The US dollar is the preferred reference in most currency exchange transactions worldwide. It is the dominant reserve currency of the world. The following are not necessarily the best Forex pairs to trade, but they are the ones that have high liquidity and occupy the most foreign exchange transactions:

EUR/USD (Euro – US dollar)
USD/JPY (US dollar – Japanese yen)
GBP/USD (British pound – US dollar)
AUD/USD (Australian dollar – US dollar)
USD/CHF (US dollar – Swiss franc)
USD/CAD (US dollar – Canadian dollar)

The values of these major currencies keep fluctuating according to each other as trade volumes between the two countries change every minute. These pairs are naturally associated with countries that have financial power, and the countries with a high volume of trade conducted worldwide.

Generally, such pairs are the most volatile ones, meaning that the price fluctuations during the day can be the largest. Does this mean that they are the best? Not necessarily, as traders can either lose or make money on the fluctuations. The aforementioned pairs do have the best trading conditions as the spreads tend to be lower, yet it doesn't mean that the majors are the best Forex trading pairs.

What is the best currency pair to trade ever-since and in 2018?
With over 200 countries in the world, you can find a handful number of currency pairs to engage with trading. However, all these currency pairs do not have the potential to deliver the best results to traders. What is the best currency pair to trade? What do most traders trade? What currency pair is worth trading and why? Keep on reading this article to figure out answers for the questions above.
Before analysing the best currency trading pairs, it is better to enhance our knowledge on the most popular currencies that can be found in the world of Forex trading. They include:

US dollar (USD)
Euro (EUR)
Australian dollar (AUD)
Swiss franc (CHF)
Canadian dollar (CAD)
Japanese yen (JPY)
British pound (GBP)

Out of these currencies, you can find a few popular currency pairs. If you want to achieve success in Forex trading, you need to have a better understanding about the currency pair that you trade. If you select any of the currency pairs we're going to discuss below, you will make trading simpler for yourself as lots of expert analytical advice and data is available on them.

Analysis of the Best Currency Pairs to Trade
Let's take a detailed look at the currency pairs below:

USD/EUR – This can be considered the most popular currency pair. In addition, it has the lowest spread among modern world Forex brokers. This currency pair is associated with basic technical analysis. The best thing about this currency pair is that it is not too volatile. If you are not in a position to take any risk, you can think of selecting this as your best Forex pair to trade, without it causing you too much doubt in your mind. You can also find a lot of information on this currency pair, which can help prevent you from making rookie mistakes.

USD/GBP – The profitable pips and possible large jumps have contributed a lot towards the popularity of this currency pair. However, you need to keep in mind that higher profits come along with a greater risk. This is a currency pair that can be grouped into the volatile category. However, many traders prefer to select this as their best currency pair to trade since they can find plenty of market analysis information.

USD/JPY – This is another loved currency pair that can be seen in the world of Forex trading. It is associated with low spreads, and you can usually follow a smooth trend as compared to other currency pairs. It also has the potential to deliver exciting profitable opportunities for traders.
All the major currency pairs that can be found in the modern world are equipped with tight spreads. However, this fact is not applicable to the USD/GBP currency pair because of its volatility. It is always better to stay away from the currency pairs that have high spreads. The recommended spread by the trading experts is 0-3 pips. When it gets over 6 pips, the trading pair may become too expensive, which can lead towards greater losses. Still, it doesn't mean you should totally avoid everything that has high spreads.

Special Pairs
What is important to note is that the best pair is the one you are most knowledgeable about. It can be extremely useful for you to trade the currency from your own country, if it is not included in the majors, of course. This is only true if your local currency has some nice volatility, too. In general, knowing your country's political and economical issues results in additional knowledge which you can base your trades on. It is certainly recommended to consider trading the pairs that contain your local currency. In most cases, your local currency pair will be quoted against USD, so you would need to stay informed about this currency as well.

Conclusion
The dynamics of foreign exchange trading is an interesting subject to study, since it can provide a boost to the world economy, along with the rise and fall of its financial fortunes. As globalization becomes a big issue for most countries around the world, the fate of these pairs is closely interconnected.

Make sure you study the foreign exchange market before making an investment. There are many Forex pairs available for trading and it is highly recommended to try trading most of them before you choose one to stick with. As Forex trading is risky, try it first on a demo account with a virtual balance.

Identifying the best currency pair to trade is not easy. The best way to accomplish this is through hands-on experience. Simply open a Demo Account and start trading, following technical analytics and fundamental analysis. Remember, practice makes perfect!

Asian countries are outpacing many European nations in the World Economic Forum’s new international ranking of trade-friendly economies.

Singapore takes the top spot in the Global Enabling Trade Report 2016, published today by the World Economic Forum and the Global Alliance for Trade Facilitation.

The report assesses the extent to which economies have institutions, policies, infrastructures and services which facilitate the free flow of goods.

While the European Union and the United States are deemed to be becoming less open for trade, the ASEAN area – which includes nations such as Singapore, Indonesia and the Philippines – is now more accessible than these traditional heavyweights.

The report attributes ASEAN’s rise as an economic power to the region’s greater integration into the global economy.

The report’s top 10 is, however, still dominated by European countries.

Movers, shakers and the rest

Singapore tops the Enabling Trade Index (ETI) for the fifth time. Its domestic market is rated as one of the world’s most open, with 99.7% of goods entering duty free. The report highlights its border processes as the best in the world – while failings in border administration are a stumbling block in other economies.

The country’s transport services and overall socio-political operating environment, including highly efficient and trusted public institutions, also contribute to its overall trade leadership.

Europe and North America remain the highest performing regions on enabling trade, but have witnessed a slowdown since 2014. Most progress in Europe was made by emerging players: for instance, Lithuania moved up eight places to 29th and Serbia made up a 18 places to reach 64th.

Among the advanced economies, Switzerland – which landed just outside the top 10 – and the US provide the worst access to domestic and foreign markets, respectively.

Domestic market access and GDP

The most improved region overall was sub-Saharan Africa, which had made significant advances in terms of market access and information and communications technology adoption.

While the ASEAN members were singled out for being the most "open for business" in terms of market access, South Asia was highlighted as the most closed region in the world, having increased tariffs on imported products by nearly 1%, to 16.7%.

Prevailing barriers
The report also says that high barriers to entry and prohibitive trade costs are still preventing millions of people around the world from benefiting from international trade. This is particularly true of rural communities, young people and women, and especially in larger emerging markets.

The top 10 countries for trade only account for 3% of the world population, while more than half live in countries ranked in the bottom half of the ETI. China as one of the most populous countries in the world is the most prominent example, ranking only 61st for trade.

World Trade Summit and Expo is designed specifically to promote and facilitate international trade between businesses globally

World Trade Summit and Expo is to facilitate foreign direct investment, and to provide a platform for businesses to expand into new markets.

World Trade Summit and Expo bringing traders together to showcase their products and services to the public in an organised event.

Read more: http://worldtradesummitexpo..com

#WorldTrade #Summit #Expo

Asian countries are outpacing many European nations in the World Economic Forum’s new international ranking of trade-friendly economies.
Singapore takes the top spot in the Global Enabling Trade Report, published today by the World Economic Forum and the Global Alliance for Trade Facilitation.

The report assesses the extent to which economies have institutions, policies, infrastructures and services which facilitate the free flow of goods.

While the European Union and the United States are deemed to be becoming less open for trade, the ASEAN area – which includes nations such as Singapore, Indonesia and the Philippines – is now more accessible than these traditional heavyweights.
The report attributes ASEAN’s rise as an economic power to the region’s greater integration into the global economy.
The report’s top 10 is, however, still dominated by European countries.

Movers, shakers and the rest
Singapore tops the Enabling Trade Index (ETI) for the fifth time. Its domestic market is rated as one of the world’s most open, with 99.7% of goods entering duty free. The report highlights its border processes as the best in the world – while failings in border administration are a stumbling block in other economies.
The country’s transport services and overall socio-political operating environment, including highly efficient and trusted public institutions, also contribute to its overall trade leadership.
Europe and North America remain the highest performing regions on enabling trade, but have witnessed a slowdown since 2014. Most progress in Europe was made by emerging players: for instance, Lithuania moved up eight places to 29th and Serbia made up a 18 places to reach 64th.
Among the advanced economies, Switzerland – which landed just outside the top 10 – and the US provide the worst access to domestic and foreign markets, respectively.

Domestic market access and GDP
The most improved region overall was sub-Saharan Africa, which had made significant advances in terms of market access and information and communications technology adoption.
While the ASEAN members were singled out for being the most "open for business" in terms of market access, South Asia was highlighted as the most closed region in the world, having increased tariffs on imported products by nearly 1%, to 16.7%.

Prevailing barriers
The report also says that high barriers to entry and prohibitive trade costs are still preventing millions of people around the world from benefiting from international trade. This is particularly true of rural communities, young people and women, and especially in larger emerging markets.
The top 10 countries for trade only account for 3% of the world population, while more than half live in countries ranked in the bottom half of the ETI. China as one of the most populous countries in the world is the most prominent example, ranking only 61st for trade.

The World Trade Summit and Expo Portal is a cross-government platform that opens a new era for trade facilitation by offering a portal for trade actors, both Local and International, to access a full range of resources and standardized services from different government agencies.

World trade summit and expo, annual bilateral innovative, business and economic platform to enhance joint trade, investment and economic opportunities among nations involved. Its about business Investment, Trade and Economic Exchange, to strengthen bilateral relationship promoting joint trade and business, enhancing stronger international bilateral relationship.

Businesses looking to increase their revenue and profits, Businesses looking for a new customer base, Businesses selling business services, Businesses that can give other business advice, Small businesses looking for finance or investment, Funding and Financial Institutions, Government departments promoting products and services for SME’s.

Business owners looking for business services and products, Investors, Entrepreneurs, Micro businesses Start-ups, SMEs, Business professionals, from across the business spectrum.

http://www.worldtradexpo.org/
http://worldtradesummitexpo..com.ng/

World trade summit and expo, annual bilateral innovative, business and economic platform to enhance joint trade, investment and economic opportunities among nations involved. Its about business Investment, Trade and Economic Exchange, to strengthen bilateral relationship promoting joint trade and business, enhancing stronger international bilateral relationship.

Businesses looking to increase their revenue and profits, Businesses looking for a new customer base, Businesses selling business services, Businesses that can give other business advice, Small businesses looking for finance or investment, Funding and Financial Institutions, Government departments promoting products and services for SME’s.

Business owners looking for business services and products, Investors, Entrepreneurs, Micro businesses Start-ups, SMEs, Business professionals, from across the business spectrum.


worldtradesummitandexpo..com.ng

worldtradeexpo.org

www.facebook.com/WTSEOFFICIAL

www.twitter.com/WTSEOfficial

www.linkedin.com/in/worldtradesummitexpo

https://www.nairaland.com/wtse

World trade summit and expo, annual bilateral innovative, business and economic platform to enhance joint trade, investment and economic opportunities among nations involved. Its about business Investment, Trade and Economic Exchange, to strengthen bilateral relationship promoting joint trade and business, enhancing stronger international bilateral relationship.

World trade summit and expo, annual bilateral innovative, business and economic platform to enhance joint trade, investment and economic opportunities among nations involved. Its about business Investment, Trade and Economic Exchange, to strengthen bilateral relationship promoting joint trade and business, enhancing stronger international bilateral relationship.

Businesses looking to increase their revenue and profits, Businesses looking for a new customer base, Businesses selling business services, Businesses that can give other business advice, Small businesses looking for finance or investment, Funding and Financial Institutions, Government departments promoting products and services for SME’s.

Business owners looking for business services and products, Investors, Entrepreneurs, Micro businesses Start-ups, SMEs, Business professionals, from across the business spectrum.

http://www.worldtradexpo.org/
http://worldtradesummitexpo..com.ng/

No time to waste? Lol

Lol. True

You are right

Promoting joint trade and business, enhancing stronger international bilateral relationships and investment in the global world.

World trade summit and expo, annual bilateral innovative, business and economic platform to enhance joint trade, investment and economic opportunities among nations involved. Its about business Investment, Trade and Economic Exchange, to strengthen bilateral relationship promoting joint trade and business, enhancing stronger international bilateral relationship.

What pill would you settle for?

The number of trade fairs is steadily increasing worldwide.

What is the best trade fairs you have attended and why?

African political and business leaders met in Kigali as part of the African Union Summit on the Continental Free Trade Area.

There were in-depth deliberations and exchanges that sought to leverage the power of businesses to drive Africa’s integration agenda.

Selected quotable quotes from the discussions are listed below.

Olusegun Obasanjo, Former President of Nigeria


We need to get a critical mass of hands, heads and minds of political and private sector leadership to move us forward.

I am surprised that any African leader at this point in time will be talking about either not understanding or not very important to be here to support what we are signing.

I see that as criminal.

Amelia Kyambadde, Uganda’s Minister for Trade and Industry

The agreement is very important not only for Uganda but for the region for trading in goods and services.

It is going to be an opportunity for job creation for the youth because they will be able to move and seek jobs across the continent.

The CFTA helps us to organise ourselves as Africans in view to the challenges we have experienced in regards to other global blocs.

This will give us an apex and the empowerment needed to address the non-tariff barriers and allow us to compete with other global blocs.

Emmerson Mnangagwa, President of Zimbabwe

The (Continental Free Trade Area) should have been achieved perhaps 40 years ago.

I believe, possibly, there was not much political will.

But today I think that there is the needed political will.

Ali Mufuruki, Tanzanian billionaire and founder of Infotech Investment Group

You can eat from free trade but you definitely cannot eat sovereignty.

The CFTA is not being done for the first time. We are being late. It has benefited other regions, the EU, NAFTA, ASEAN.

We should look at their successes.

Arancha Gonzalez, Executive Director, International Trade Centre

The continent has an amazing asset – its young people.
They are smart, better educated, live longer and entrepreneurial. If they operate in the right conditions they will lift this continent.

The CFTA creates conditions for these jobs to be created. It is the implementation of the CFTA that will lead to the creation of the jobs.

This is why implementation is important.

Cyril Ramaphosa, President of South Africa

This is the moment for the African continent.

A free trade area for Africa is going to be like a flood. A flood that is going to lift all the boats. It is not about South Africa. It is more about all of us. All countries of Africa participating - big and small.

This is an opportunity that is going to yield benefits for small countries as well as big ones. It is going to create a level playing field for small and big companies to do meaningful business.

Vera Songwe, Executive Secretary of the UN Economic Commission for Africa

We have put together the index to let us know how quickly countries are moving forward to ratify this.

In 2025, if we do well and make it work, the African market will be USD 3.6 trillion.

This is not insignificant for businesses, At the end of the day, it is why we are here.

Donald Kaberuka, Former President of the African Development Bank

This is a great day for our continent.

And for any country to have reservation or fears is a disappointment.

The way this agreement has been negotiated and written contains segments to ensure that whoever has issues, those can be addressed.

Paul Kagame, Chairperson of the African Union and President of Rwanda

Increasing intra-African trade does not mean doing less business with the rest of the world.

On the contrary, as we trade more among ourselves, African firms will become bigger, more specialised, and more competitive internationally.

From now on, the clear wish of everyone is that consultation between business and political leadership, at all levels, becomes a continuous feature of continental deliberations.

Steve Masiyiwa, Founder of Econet Wireless Group

We want one market. One single African market. We cannot sustain employment creation for our young people.

You (leaders) have to give us, the private sector, the tools to expand, the tools to move people working within our business and tools to move much quicker than we do.

What we want is efficient implementation (of the CFTA). Let us ratify this accord. Let us move quickly and execute on it.

China’s inaugural import fair is the first sign of the nation’s transformation from the world’s factory to a consumption-driven economy.
As many as 120 countries had overbooked the exhibition area in China’s inaugural global import expo by 20 per cent, an overwhelming response that under-girds the transformation of the nation from the world’s biggest exporter to a consumption-driven economy.

The China International Import Expo, scheduled from November 5 to 10 in Shanghai, had attracted more than the expected number of participants, Commerce Minister Zhong Shan told a press conference in Beijing on the sidelines of the annual meeting of the National People’s Congress.

For the expo’s “national image display”, open to governments, China had originally planned to have 60 exhibiting countries, but many more wanted to take part, Zhong said. For the trade fair, open to merchants, companies from 120 countries had overbooked the exhibition area by 20 per cent, even though the event was still eight months away.

The fair was a reflection of Beijing’s push to better balance its trade with other nations by boosting imports and trimming its exports, said Tang Jianwei, an analyst at Bank of Communications in Shanghai.

“Beijing is also sending a signal that other nations can also take a bite of the domestic market” as China gets richer, he said.

The Chinese government wants the event, dubbed one of the year’s four key diplomatic occasions, to win the hearts of the world’s traders by bringing them closer to China’s consumers and to muster support for a global trade system that is quickly losing momentum, while US President Donald Trump is losing interest in the existing multilateral system.

Xi announced the event at the Belt and Road Summit in Beijing last May and promoted it again in his speech at the Apec summit in Vietnam in November.

The expo, expected to attract 150,000 buyers, was part of China’s answer to uphold globalisation and free trade in an era when “the multilateral trading system is challenged and protectionism is on the rise,” Zhong said.

The fair also reflected “China’s determination, confidence, and sense of responsibility in opening up its market to the outside world,” he said.

The World Trade Organisation, the UN Conference on Trade and Development, and the UN Industrial Development Organisation would act as “supporters” for the fair, the theme of which would be “new era, shared future,” according to a brochure handed out by the ministry.

With China accused by Washington of not playing by fair trade rules, the Chinese government has been arguing that the country’s economic rise is an opportunity, not a challenge, for the rest of the world. The Shanghai import expo, to be held annually, is designed to show that Beijing is ready to buy more from the world.

China is now the biggest trading partner of more than 120 countries and it imported US$1.84 trillion worth of commodities last year, 16 per cent more than in 2016. While China’s demand for crude oil and iron ore remained strong, the country, home to 1.3 billion consumers, has also been buying more wines, chocolates and avocados.

The government boasts that about 400 million Chinese can now be regarded as “middle income”, giving the country the world’s biggest such population.

China is now the world’s second-biggest consumer market, with US$5.4 trillion of consumer spending last year, and consumption has been the chief engine of China’s economic growth for the past four years.

Zhong said the expo would not be a “solo” show by China, but a “chorus” sung by many nations.

He said Chinese consumers spent about US$200 billion a year shopping abroad on everything from luxury items to basic necessities, showing the demand for quality products.

Shanghai mayor Ying Yong said earlier this month in Beijing that more than 1,000 enterprises, including a number of Fortune 500 companies, had reserved a combined 50,000 square metres of exhibition area for the fair.

The Ministry of Commerce brochure says the price of a 9 square-metre booth at the fair is US$3,000.

A trade fair (trade show, trade exhibition, or expo) is an exhibition organized so that companies in a specific industry can showcase and demonstrate their latest products and services, meet with industry partners and customers, study activities of rivals, and examine recent market trends and opportunities.

In contrast to consumer fairs, only some trade fairs are open to the public, while others can only be attended by company representatives (members of the trade, e.g. professionals) and members of the press, therefore trade shows are classified as either "public" or "trade only". A few fairs are hybrids of the two; one example is the Frankfurt Book Fair, which is trade only for its first three days and open to the general public on its final two days.

They are held on a continuing basis in virtually all markets and normally attract companies from around the globe. For example, in the U.S., there are currently over 10,000 trade shows held every year, and several online directories have been established to help organizers, attendees, and marketers identify appropriate events.

Modern trade fairs follow in the tradition of trade fairs established in late medieval Europe, in the era of merchant capitalism. In this era, produce and craft producers visited towns for trading fairs, to sell and showcase products. From the late eighteenth century, industrial exhibitions in Europe and North America became more common reflecting the technological dynamism of the Industrial Revolution.

In the late 19th century, the concept of annual industry-wide trade shows gained traction, spreading from European manufacturing centers to North America. By the 20th century, specialized companies came into existence simply to manage the trade-show industry, and permanent trade show grounds or convention centers were established as venues that featured a rotating calendar of trade shows.

In the 21st century, with the rapid industrialization of Asia, trade shows and exhibitions are now commonplace throughout the Asian continent, with China dominating the exhibitions industry in Asia, accounting for more than 55 per cent of all space sold in the region in 2011.