Bilateral deal-making involving governments of Africa.
photo: World Bank/CC BY-NC-ND 2.0
Tunisia opened up a promising new market by entering the Free Trade Zone Agreement with the European Union, but some business and political leaders caution that without protection and modernisation measures, the economic gulf between Tunisia and the EU could get worse, not better.
The Science and Technology Cooperation Agreement is an important step in recognizing Libya’s renunciation of weapons of mass destruction, says the US State Department. It is a component of Washington’s efforts to promote peace and stability in the Maghreb and broaden US-Libya bilateral relations.
The six oil-rich Gulf monarchies ushered in the New Year on Tuesday by setting up a common market with a combined economy of 715 billion dollars.
The European Union and the United States are increasingly involved in a widening medley of trade and other agreements in the Middle East and North Africa region. As the EU and US push for more and varied free trade agreements, rivalries between these global economic giants also spur competition among Arab countries.
Leaders of the six-member Gulf Cooperation Council (GCC) yesterday announced their plan to launch a common market in January 2008 and a currency union by 2010 in addition to maintaining their currencies’ peg to the US dollar.
Morphing over the past several years from international pariah to developing, open-market economy, Libya is now actively cultivating trade and investment links with the US.
The European Union and Iraq are holding the third round of negotiations for a Trade and Cooperation Agreement (TCA) in Brussels from 27-29 November.
The Governments of Angola and Spain Wednesday in Luanda signed an accord for reciprocal protection of investments and a memorandum of understanding, that sets a programme of financial cooperation involving two credit lines of about Usd 600 million.
The Southern African Development Community (SADC) has said that a free trade agreement (FTA) for the region will be concluded next year as scheduled.
The draft accord signed on Monday foresees Chinese companies gaining copper/cobalt, gold and nickel concessions under repayment deals that would also include toll revenues from the roads and railways to be constructed.
Tralac’s page on the African Continental Free Trade Area
The Southern and Eastern Africa Trade Information and Negotiations Institute (SEATINI) is a regional non-governmental organization founded in 1996 soon after the WTO Singapore Ministerial Conference — mainly focusing on WTO, but also bilateral and regional trade negotiations in Africa.
The Southern and Eastern African Trade Information and Negotiations Institute (SEATINI) is an African initiative to strengthen Africa’s capacity to take a more effective part in the emerging global trading system and to better manage the process of globalization.