The current century's threat to communities, including climate change and vast and deepening inequalities, may be aggravated by the Agreement. By limiting the power of governments to govern in the interests of the community and the environment, and bolstering a regulatory framework intended to advance the interest of multi-national corporations and only the wealthiest people, trade and investment agreements deepen issues of human rights. The RCEP may, as a consequence, advertently exclude marginalised groups, including women, indigenous peoples, migrants and essentially those without any capital or political power. 

Doubts have been raised whether RCEP can be a game changer for the region or not; due to many issues such as that, there already exists a good number of Free trade Agreements (FTAs) between these RCEP members (therefore RCEP is not adding something substantially new), some barriers and loopholes still remains, it does not offer any major breakthrough in new trade issues such as e-commerce. It will take some time to see the effects of RCEP, but surely the reduction of tariffs and non-tariffs will stimulate economic growth in the medium-long term. It will take some time to see how the member states benefit and reap the facilities of RCEP. But one impact is certainly visible if seen from the dynamics of geopolitics in the region, that at the moment, China has added an extra point in the game of strategic balance in Asia by clearly maintaining its dominance in the region. 

Regional trade agreements such as RCEP which include some of the major global palm oil producers including Malaysia and Indonesia could have been drafted to help sustainable palm oil production in both countries by eliminating markets for unsustainable palm oil. Despite all of the fanfare around RCEP, the RCEP treaty is a lost opportunity for using trade to advance human rights and environmental protection.

Without doubt, once in force, RCEP could stimulate COVID-19 recovery in the region by fostering greater investment among the fifteen Asia-Pacific countries. However, as the Agreement will be co-existing with other IIAs among the countries, it adds another noodle to the already growing spaghetti bowl of IIAs among the Asia-Pacific States.

Although the S&DT provisions relating to disputes involving LDC parties and the current state-to-state dispute settlement mechanism provided by the Agreement may seem comparatively more balanced than the mechanism of Investor-State Dispute Settlement (ISDS), nonetheless, the real extent of the effectiveness and advantages of the mechanism for the LDC parties cannot yet be inferred,

The News and Events published every week include conferences, major developments in the field of International Economic Law in Africa at the national, sub-regional and regional levels as well as relevant case law.

February 15, 2020

February 15, 2020

 

This post-lecture reflection captures critical discussions from the 6th guest lecture of the Academic Forum delivered by Professor Mohsen al Attar, Dean of the University of West Indies Law School. The theme of the guest lecture was 'Decolonisation of International Economic Law'. Focusing on five tenets - capitalism, epistemology/knowledge, colonialism, international law and political economy – which Professor Mohsen used as a frame to foreground his analysis, this piece, explores the prospects and challenges of decolonising International Economic Law. In keeping with the Academic Forum's focus, it is argued that uncritical/Eurocentric approaches to teaching IEL in African universities hamper efforts to decolonise our epistemologies. In exploring alternate ways to re-frame, the global economic order, this piece also highlights the idea of 'social justice' as a valuable metric of development, i.e. socio-economic equity that raises the standard of living to the greatest extent relative to each of our circumstances.

January 26, 2021