A striking increase in trade and investment between China, India and Africa holds great potential for growth and job creation in the poverty-stricken sub-Sahara, a World Bank study released on Sunday said.
The EU strongly advocates that attracting more foreign investment is a solution to African development problems and that African countries therefore need to include strict investment liberalisation measures in EPAs.
The European Union (EU) is negotiating with African, Caribbean and Pacific (ACP) countries for a new free trade agreement: the Economic Partnership Agreements (EPAs). The liberalisation of services and therefore opening the market for foreign investors is part of these negotiations.
Skyrocketing Asian trade and investment in Africa show the beginning of a change in world trade patterns, according to a new World Bank report. The report contains a chapter on trade and investment agreements between Asia and Africa.
Washington recently played host to the annual African Growth and Opportunity Act (Agoa) forum, an annual event mandated by the Agoa legislation which brings together stakeholders from Africa and the US.
A chorus of US officials is signaling that Washington wants to turn a controversial programme giving poor African nations partial access to US markets into a full-fledged free trade agreement that would open Africa’s economy to US corporations.
You may be asking yourself: " what is an EPA? " Well, you are not alone. In fact I have just met with a European Member of Parliament who is no more au courant than you. And that’s worrying!
Why is there a sudden shift to regionalism as opposed to the much over-blown globalisation represented by multilateralism? Can Africa begin to understand that there is a dynamic and concerted effort at balkanising the continent into segmented disciplines?
As African trade ministers continue their meeting in Nairobi, NGOs are trying to make their positions known on various issues, including the economic partnership agreement being negotiated between the EU and African states and agricultural subsidies used by rich nations.
The Saharan states have called for free trade agreements to help the region achieve peace, stability and prosperity.
China is muscling its way not only into the global economy but also into Africa, a world that SA companies might have thought was their oyster after the walls of apartheid came down a decade ago.
First, a recap: the West has over the years used structural adjustment reforms to keep Africa economically weak and increase the continent’s dependence on external loans.
The European Union is still insisting that the Economic Partnership Agreements (EPAs) whose implementation it is currently negotiating with four sub-regional groupings in Sub-Saharan Africa remain the only option for Africa’s development.
According to officials, dispute over whether Europe should provide aid to help African states prepare for increased competition ahead of a new trade regime, is hindering progress in talks between the two blocs.
China is willing to negotiate Free Trade Agreement (FTA) with African countries and African regional organizations when conditions are ripe, according to China’s African Policy Paper issued Thursday in Beijing. The paper, the first of its kind, said the Chinese government encourages and supports Chinese enterprises’ investment and business in Africa.
Regional trade integration bodies must stand together and prevent outside forces like the European Union (EU) from promoting divisions to suit their varied agendas, especially when dealing with African member states, a Government minister has urged.
In advice for a new report by the development charity ActionAid a lawyer in Matrix Chambers today warns that European Union trade commissioner Peter Mandelson is violating a legal duty to Africa by undermining alternatives to his trade plans which, critics fear, threaten the jobs of millions of poor people.
African civil society organizations supported by a number of major European NGOs have moved into clear confrontation with the European Commission on the issue of the Economic Partnership Agreements (EPA). They say these deals will wreck domestic African agriculture and industry and are warning African politicians not to go along with them.
The upcoming Asian-African Summit will focus on establishing a new strategic partnership, and would not as yet move toward ideas of linking the two continents via a free trade agreement. "However, we have identified that (a FTA) is one form of cooperation that we can pursue in the long term," Indonesian Ministry of Foreign Affairs secretary-general Sudjadnan Parnohadiningrat said.
Bi- and multilateral trade relations between external actors and individual African states or regional blocs are becoming ever more decisive. The trade policies of both the USA and the EU are anything but helpful.