The EU and African, Caribbean and Pacific Community on Thursday (15 April) finalised the successor to the Cotonou agreement, bringing a close to two and a half years of negotiations and repeated delays.
India has stepped up its global ambitions and foreign policy re-engagement with African countries in recent years. India is now the third largest export destination and the fifth largest investor on the continent.
Based on what we have seen in nearly final drafts of the text, the EU seems poised to again fail to promote a real shift in power relations due to imbalances that remain written into the new deal.
Several Indian products will enjoy the benefit of greater market access at concessional duties in Mauritius as the FTA signed between the two countries will come into effect from April 1
African countries want India to help in mechanising agriculture, build social and physical infrastructure and provide more vaccines
The trade deal would provide a gateway to the markets of the African continent as Mauritius has several pacts with them
Mauritius already plays an important role as an investment entrepôt for the subcontinent. This likely makes Sino-Mauritian ties even more important for the rest of the continent to watch.
The Union Cabinet on Wednesday approved signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce.
African countries negotiating free trade agreements with parties from other parts of the world will be required to grant the same preferences or better terms to African Continental Free Trade Area (AfCFTA) member states.
African countries want to trade more with their partners on the continent – through the African Continental Free Trade Area (AfCFTA) agreement that launched operations on 1 January – but will that hurt big trading partners like China?
China’s free trade agreement with the small island-nation of Mauritius came into effect in January, increasing the Asian powerhouse’s presence in the Indian Ocean where its regional rival India has long dominated.
Economists deconstruct the myth surrounding the trade agreement
UK has already inked post-Brexit trade deals with 13 African countries.
These new agreements, which offer duty-free and quota-free access to
British markets, aren’t much different to the old ones, as they are mainly transferring the conditions in the EU deals into bilateral agreements between the UK and the African nation, or blocs.
All SACU members need to ratify the AfCFTA before any of its members can start trading under it. ECOWAS States were facing the same problem.
Dangote Industries Limited has stated that its cement expansion plan and fertiliser investments will open new trade routes for the company and Nigeria under the trade deal.
Members of Africa’s new free trade area should complete their tariff reduction schedules and finalise essential rules of origin by July.
The African Union sees the ‘partnership’ process, likely to culminate in a summit in Portugal in May or June, as an opportunity to overhaul the Economic Partnership Agreements (EPAs) .
China’s first FTA with an African country provides a stepping stone into the continent through the geopolitical hotspot Indo-Pacific region.
African countries began officially trading under a new continent-wide free trade area, after months of delays caused by the global coronavirus pandemic.
Deal will ‘vitalise cooperation between our two countries and strengthen China-Africa economic ties’, head of African affairs at Chinese foreign ministry says.