How the Global South is affected by the current trade turmoil – and old patterns of power.
Negotiators are hoping to break the back on talks for the successor to the Cotonou Agreement, which expires in May 2020, between the EU and 79 countries in Africa, the Caribbean and the Pacific (ACP).
China has been receiving flak for its conditional investments and loans that are resulting in land and resource grabbing in Asia and Africa.
If this agreement comes into force, it is likely, because of the peculiarities of the insertion of Africa into the world capitalist civilization, to be among the worst of the free-trade wave that is underway.
The entry into force of the AfCFTA is a decisive stage of the African Union’s neoliberal Pan-Africanist project.
Ethiopia is the latest country to approve the African Union’s Africa Continental Free Trade Area, AfCFTA pact after the cabinet passed the deal.
The Manufacturers Association of Nigeria has again warned Nigeria against signing the African Continental Free Trade Area to save Nigeria from being a dumping ground for foreign goods.
India and Mauritius discussed initiatives to strengthen bilateral ties including the early finalisation of the Comprehensive Economic Cooperation Partnership Agreement (CEPCA).
The US-Africa Strategy seeks to re-position the US and bring it to par with China and Russia.
African countries, backed by the EU, want internal and external free trade, which will wreck local agriculture, and rural economies and societies.
Business groups have supported the Nigerian Federal Government’s delay in signing the African Continental Free Trade Area, stressing that adequate measure should be put in place to prevent dumping of goods into Nigeria and Africa countries in general.
Trade unions from Africa and Europe have followed with grave concern the negotiation and conclusion of Economic Partnership Agreements (EPAs) between the EU and regional groupings in Africa.
If the EU is to seize the economic opportunities that Africa offers, it will need to work with the continent’s leaders to forge a new kind of partnership that treats African countries as equals. Simply put, the new EU-Africa relationship must be based on trade, not aid.
Government has opened consultations with industry on rules of origin (RoO) for the ambitious African Continental Free Trade Area (AfCFTA) aimed at promoting duty-free flow of goods and services originating in the bloc.
Some general concerns centre on the potential impact a continental free market could have on particular sectors of national economies.
The European Union could one day look to take advantage of African efforts to forge a free trade area within the continent to work toward a comprehensive continent-to-continent free trade agreement.
The African Union wants to have a continent-to-continent dialogue with Europe, a change that could make the framework of the Cotonou Agreement implode and leave the Pacific and Caribbean states out in the cold.
Many have suggested that China and African countries, represented by African Union, should launch a feasibility study on free trade and investment facilitation negotiation.
Increasing trade between the EU and the ACP, particularly African countries, lay at the heart of the ambition of the Cotonou Agreement. But it has not worked out that way.
The US is looking for African countries that would be interested in having bilateral free trade agreements with.