The brief discussions in this blog post highlight critical aspects of the contemporary dynamics of commodity dependence that challenge the optimism of the GVCD approach as espoused by multilateral development agencies and the WTO. Moreover, it raises further questions on the political economy of commodity dependency and industrial policy in SSA that deserve attention.
On March 9 2018, the African Union Ministers of Trade approved the Declaration establishing the Agreement establishing African Continental Free Trade Area Agreement (AfCFTA); a move that marked the creation of the largest Free Trade Area in the World. The Agreement seeks to create a single market for goods, services and movement of persons and investment among African countries thereby fostering intra-African trade, facilitating structural transformation of African economies and promoting sustainable and inclusive socio-economic development across the African continent. Whether this would turn out to be a significant positive development within the continent may largely depend on whether the broader issue is addressed- The continuous inclination of African States to explore the forest rather than tend the garden.
The Competition Authority of Botswana, the National Energy Regulator of South Africa and the University of Johannesburg’s Centre for Competition, Regulation and Economic Development are honoured to host the 5th Annual Competition and Economic Regulation (ACER) Week, Southern Africa.