This book symposium is about a new era of international investment norms in Africa. The discussion focuses on how to foster cooperation between African states and foreign investors in implementing sustainable development objectives and addressing global challenges. Several traditional investment treaties offer investors broad rights and protections that are backed by strong dispute settlement mechanisms. In the same vein, States have historically committed to non-reciprocal obligations in investment treaties that are seen as significantly limiting the policy space of states.
Common Market for Eastern and Southern Africa
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?
With 22 ratifications now guaranteed, the African Continental Free Trade Agreement, (AfCFTA), will soon enter into force. Once in force, its efficacy will depend on the political will to implement it as well as its enforcement mechanisms. The AfCFTA’s Protocol on Rules and Procedures on the Settlement of Disputes establishes a WTO-like Dispute Settlement Mechanism with Panels and an Appellate Body.
February 4, 2019
Africa is currently at a risk of reaching the zenith of bilateralism/regionalism in terms of the number of regional trade agreements (RTAs) present in the continent. Yet the advantages of close economic integration have not yet been adequately witnessed in African Regional Trade Agreements (RTAs). Moreover, it is generally the case that each African state is a member to at least two or more RTAs. This has created the quintessential spaghetti bowl on the continent.
Regional integration requires not only the elimination of tariff and non-tariff barriers, but also the removal of impediments that cause the physical movement of goods across borders to be slow and costly. These impediments may arise due to defects in policies, laws or procedures. Thus, trade should not only be liberalised, but it also needs to be facilitated. The World Trade Organization (WTO) defines trade facilitation as “the simplification, modernization and harmonization of export and import processes.” Six of the Southern African Development Community (SADC) countries are land-locked (Botswana, Lesotho, Malawi, Swaziland, Zambia and Zimbabwe). Therefore, inefficiency and high costs in cross-border trade have detrimental impacts on their ability to participate in global, as well as in regional trade. SADC states are parties to several agreements that aim at facilitating trade. However, the implementation of obligations remains a chronic challenge.
Welcome to Afronomicslaw.org, a blog on the international economic law landscape as it relates to Africa. A major goal of this blog is to complement current analysis of international economic law issues as they relate to Africa in the blogosphere. We believe that this blog is particularly timely because there are significant international economic law developments taking place in Africa that invite more contemporaneous reflection and discussion.