How the EU could spur African growth, instead of making more bad trade deals
Before the election of Donald Trump ripped up the global rulebook on trade, the European Union entered into an old school-style deal with many African countries.
After nearly a decade of negotiations, the Southern African Development Community (SADC), comprising Botswana, Lesotho, Namibia, South Africa and Swaziland, signed the Economic Partnership Agreement (EPA) with the 28 members states of the EU. When the process of ratification is complete, Mozambique is slated to become the sixth member of the agreement.
The EPA is designed to be asymmetrical in the African countries’ favour. The European Commission has insisted that the EU has “never accepted such a degree of asymmetry in a trade deal before”.… Seguir leyendo »