Intra - African Trade and Regional Integration
نویسنده
چکیده
In the fast globalizing world, the combined effect of small market size, weak institutions, low human development, worsening terms of trade, persistent conflict and poor investment climate, pan-African cooperation as enshrined in the African Economic Community and NEPAD has been designated by African governments as the best overall framework for accelerating African development in the 21 century. This paper analyses intra-regional trade and regional integration in selected regional groupings, with particular emphasis on measures and modalities for promoting trade and development and ensuring a smooth integration into the global economy. After noting that regional agreements have, in recent years, generated significant increases in trade, we consider the role of regional integration measures that enhance domestic policy environment, increase overall competitiveness such as to attract badly needed investments, which in turn reinforce the positive effects of regional trade agreements. Such measures will help adequately link African countries and regions together, culminating into the African Economic Community. We then turn to actions from the international community to help link Africa with itself; including in ongoing trade negotiations, particularly in rules making, trade facilitation and trade in services.
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