In order to decide whether to include IF in the AfCFTA and how, African policymakers should be aware of all these different approaches and dynamics around Investment Facilitation to be able to set their own priorities in this relatively “new” area in international investment law, crafting an innovative and holistic approach for their future investment protocol. To date, international and regional approaches in IF are still in the making – making it easier for policymakers to identify what works best for Africa. In the process, policymakers can also leverage their own cutting-edge reform efforts on investment protection and regulation, and set a regional standard as a rule-maker – which could, in turn, influence ongoing or other future global processes on this topic.
The WAEMU competition policy is, from the point of view of material and procedural law, in conformity with international standards, with certain specificities relating to the control of concentrations, the establishment of a special category of anti-competitive practices attributable to States and, above all, a centralized institutional approach with almost exclusive competence of the Community bodies. Then, eighteen (18) years (2003-2021) after the adoption of the implementing texts, WAEMU competition policy has therefore contributed to the consolidation of the Customs Union, the free movement of goods and liberalization in several sectors of activity (telecommunications, communication, energy, etc.). Moreover, it has become an essential tool for promoting regional economic integration in the Union.
This webinar will consider reforms of the international investment policy regime in Africa. The webinar follows up our recently concluded symposium on Investor-State Dispute Settlement designed to centre voices from the Global South in the veritable tradition of Afronomicslaw.org
While international trade has undergone significant structural changes recently, particularly with the proliferation of new generation of free trade agreements (FTAs), the debate on the consequences of IIAs for sustainable development continues to widen and intensify. In effect, while there has been fundamental changes in the international investment landscape in terms of players (now comprising state-owned enterprises and sovereign wealth funds) and FDI direction (with emerging economies now being, not only recipients, but increasingly home states), governments are also now adopting industrial policies and development strategies that contrast with their erstwhile hands-off approach to economic development.
There is a feeling that the next decade will be a watershed period in terms of the economic relations between the EU and Africa. Both continents are experiencing sweeping developments that will invariably affect their respective existence and mutual relationships. In Africa, the largest preferential trade area, the African Continental Free Trade Area (AfCFTA), has recently been ratified while in Europe, the EU is navigating the challenges of Brexit. All this is taking place in the backdrop of negotiations between the two blocs to replace the Cotonou Agreement which has since 2000 served as the bedrock of economic relations between the EU and ACP states. How, then, will the Africa-EU relationship be impacted – if at all – by the implementation of AfCFTA?
The call for an open, rules-based approach to investment facilitation at the multilateral level is informed by a tipping point in the international investment arena. As discussed below, this paradigm shift and various precedental challenges have made it imperative to seek international investment policy coherence.
Many mainstream discussions on African regional integration focus on the role of the executive, bureaucrats and state institutions (hereafter referred to as state-actors) in facilitating regional integration. While state-actors play crucial roles in enabling regional integration from a “top-down” perspective, concentration on these state-actors inadvertently means that less focus is paid to the non-state actors involved in the process. This article explains that while state-actors do facilitate regional integration from a top-down perspective, non-state actors have the potential to (and in some cases, already do) facilitate regional integration using a “bottom-up” approach.
Reforming domestic law is critical to ensuring countries capture the benefits of their natural resources wealth. In addition, it is increasingly being recognized in investment treaty reform processes as well as in investor-state dispute settlement proceedings that investor compliance with domestic law is a prerequisite to entertaining investor claims against states.
With over 100 countries involved, the revision of the ACP-EU Partnership Agreement, signed in Cotonou on 23 June 2000 is an extremely important endeavor that presents immense opportunities to all the parties and that requires careful negotiations. The Agreement will expire in 2020 and the parties are currently negotiating a new framework that is expected to reflect today’s socio-economic opportunities, challenges and concerns. This contribution looks at some of the strategic elements to consider when updating or amending investment-related provisions of the ACP-EU Partnership Agreement.