In the tax world, this is significant because businesses react to tax policy. Tax policy, in turn, stimulates the interest of both local and international investors who are the key drivers of economic growth. Therefore, the challenges of the economic downturn will be more glaring and significant for African countries, who have a greater reliance on tax revenue from large taxpayers than more advanced economies.
The question of a regulatory framework for this type of CSR at the African Union level is paramount. Such regulatory frameworks could be meta-regulatory in nature and thus embrace a mix of soft law and hard law rules with incentives. This need for policy and regulation is recognised in the African Union Agenda 2063 framework document both in order to effectively finance development objectives and to enable full exploitation of the partnership capabilities in the interest of Africa. The African Union has also pursued this set goal for agribusiness as a result of the Malabo declaration on accelerated agricultural growth commitments
This contribution starts with two observations, both reflecting mainstream approaches to international economic law, international institutional law and public international law more generally. First, international development law, defined as a branch of International Economic Law (IEL) that sets out “the rights and duties of states and other actors in the development process” seldom receives the same degree of research and teaching focus typically dedicated to branches such as international trade, investment and monetary regulation – as a cursory review of the tables of contents of prominent IEL textbooks and research handbooks illustrates. Second, the same can be said about multilateral development banks (MDBs) and their development-finance operations.
Following the conclusion of the four-part Symposium on COVID-19 and International Economic Law in the Global South, Afronomicslaw.org is pleased to announce three follow-up webinars to continue the conversation
The reading of the travaux préparatoires of Article XXI GATT indicates that the GATT Contracting Parties did not envisage that a global pandemic such as a virus could amount to a national security exception under the said Article. However, the drafters of GATT 1947 cannot be put to blame since no global health crisis has ever necessitated the applicability of the Article. The 2020 Corona virus (Covid 19) is an example of a global health crisis. In response to the crisis and in a bid to protect their nationals, states are restricting the exportation of medical related equipment. This amounts to quantitative restrictions which is a violation of the World Trade Organisation rules of trade. This paper analyses such measures in lieu of WTO member’s obligations.
The best ways to tackle any disease are often scientific, whether based on modern, Western-style medicine, or the traditional methods of our forefathers. In both cases, an ailment was observed, a treatment proposed, and if successful, adopted, with the less effective ones being relegated to the realm of pseudoscience at best. The African continent-wide economic integration project has been in motion in one form or other since the 1950s (some might argue earlier). Now, more than ever, is the time to take an honest look at our history and consider whether, based on the depth of integration of our economies, we are on the right track, or whether we need to consider a different approach. We should use the postponed operationalisation of the AfCFTA to consider how best to implement the ideals that have been negotiated the last couple of years, and not serve as a harbinger of another shelved idea.
The world of commerce after this pandemic will change significantly and controlled by those countries and blocs whose industries, research, trade and technology are robustly resourced and positioned to take advantage of the new market of knowledge, utilities and essential commodities of life. Access to trade finance is predicted to be the fundamental contrasting issue between developed and developing countries. Trade facilitation to move value-added products and services more efficiently across borders to other parts of the world must inform the thinking and planning of governments in the short and medium-term.
The Covid-19 pandemic is not only a threat to human health but is also a threat to the economic and financial health of the world. Many countries and international organisations are already thinking about the post Covid-19 strategies to be implemented. One sector which will play a key role in helping economies to rise is the shipping sector. Carriage of goods by sea will allow countries to gain access to commodities that they require in order to strengthen their economic, infrastructural and human development.
On the 24th of March 2020, the African Export-Import Bank (Afreximbank) announced a US$3 billion facility to help its member countries weather the economic and health impacts of Covid-19. In this interview, Prof Ben Oramah, President Afreximbank, discusses this pandemic facility, the African Continental Free Trade Area, (AfCFTA) and more.
Welcome to this symposium on COVID-19 and International Economic Law in the Global South. The essays in this symposium came from Africa, Asia, Europe, the Middle East, the Caribbean, North America and Latin America. This symposium will last for a full four weeks because of the large number of good quality submissions we accepted.