THE ROLE OF SADC IN BOOSTING DOMESTIC, REGIONAL, CONTINENTAL AND INTERNATIONAL TRADE

2016 ◽  
Vol 13 (1) ◽  
pp. 88-98
Author(s):  
Ghazala Begum Essop
Keyword(s):  
Free Trade ◽  
Bilateral Trade ◽  
Global Financial Crisis ◽  
Free Trade Area ◽  
Customs Union ◽  
The European Union ◽  
African Countries ◽  
Regional Economic ◽  
Trade Area

The role of regional economic communities in the development of trade in Africa is widely recognised. Currently, intra-African trade stands at 10 per cent. This is in sharp contrast to other developing regions of the world. In Asia and Latin America, the levels of intra-trade are 50 and 26 per cent, respectively. There are a number of reasons accounting for the low level of intra-African trade, including the weak mandate given to regional economic communities to monitor and enforce the commitments assumed by countries under regional trade agreements. The lack of integration has negatively impacted on African countries and affected their ability to attract foreign direct investment commensurate with their development needs. Had African countries been less exposed to external markets, they would have been minimally affected by the global financial crisis. The importance of boosting intra-African trade was highlighted by Africa’s Heads of State and Government when they devoted this year’s summit to this theme. In the run-up to the summit, the African Union Commission released a study that underscored the importance of regional economic communities in the process of economic integration in Africa. Currently, SADC member states are in the process of implementing the SADC Trade Protocol, which would create a fully-fledged free trade area and later a customs union, and at the same time engaged in tripartite negotiations aimed at merging the three (SADC, COMESA and the EAC) regional configurations. They are also engaged in the EPA negotiations with the European Union, which would create a free trade area and also the Doha negotiations under the auspices of the WTO. The main objective of this article is to estimate SADC countries’ bilateral trade potential, which may result in the improvements in trade facilitation.

scholarly journals The African Growth and Opportunity Act and the African Continental Free Trade Area

AJIL Unbound ◽  
2017 ◽  
Vol 111 ◽  
pp. 377-383 ◽  
Author(s):  
William Davis
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
The United States ◽  
The European Union ◽  
African Countries ◽  
Current Form ◽  
Trade Relations ◽  
Trade Area ◽  
Economic Partnership ◽  
Trading Arrangement

This essay assesses and evaluates the extent to which the African Growth and Opportunity Act (AGOA) increased imports from AGOA eligible countries to the United States from 2001 to 2015. The essay then examines how African countries can make the most of the preferences granted under AGOA, arguing that AGOA national utilization strategies have proven successful. In the final part, the essay explores options for future U.S.-Africa trade relations after the AGOA expires in 2025, proposing approaches that would best support African development. In this regard, this essay argues that, since Congress is unlikely to renew AGOA in its current form and since AGOA will likely be replaced with an arrangement requiring some degree of reciprocity, it will be very important for (1) the African Union's Continental Free Trade Area (CFTA) to be implemented before any new U.S.-Africa trading arrangement comes into force and (2) for negotiations for any future U.S.-Africa trading arrangement not to mimic the negotiations conducted for the Economic Partnership Agreements with the European Union.

scholarly journals Impact of the Enlargement of the European Union on the Foreign Trade and Development of the New Members

ECONOMICS ◽  
2017 ◽  
Vol 5 (1) ◽  
pp. 36-51
Author(s):  
Milenko Krajišnik ◽  
Aleksandra Žutić
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Economic Integration ◽  
Regional Integration ◽  
Free Trade Area ◽  
Customs Union ◽  
The European Union ◽  
Regional Economic ◽  
New Members ◽  
Trade Area

SummaryOne of the most important characteristics of the process of globalization is the creation of different regional economic integrations. The most developed regional economic integration in the world is the European Union. Since it was found, when six founder countries created the free trade area for coal and steel, European Union passed all the phases of development of the economic integration, through the customs union and common market to the economic and monetary union. Through the six waves of enlargement European Union has become the integration of 28 countries with over 500 million habitants. Every enlargement of this regional integration had an impact on the economic position and the development of both the old and the new members. The biggest increase in the number of members brought the 5th big enlargement of the European Union, when the number of the member countries increased in total for 12 countries, first for 10, and then for 2 more.The effects of this enlargement on former soviet countries are specially interesting not only because of the number of the new members, but also because of the fact that these countries during the joining have also pass the process of the transition to the market economy.The aim of this work is to examine the effects of the enlargement on the foreign trade of the new members, and the effects of the changes in foreign trade on the economic development of these countries. The analysis of the effects of joining the European Union could be interesting for the countries which strive to become members of this economic regional integration.

scholarly journals China and the Future of Africa Continental Free Trade Area (ACFTR): Challenges and Opportunities

2021 ◽  
Vol 4 (3) ◽  
pp. 156-169
Author(s):  
Sheriff G.I. ◽  
Ahmet A. ◽  
Sheriff A.I.
Keyword(s):  
Free Trade ◽  
Bilateral Trade ◽  
Implementation Process ◽  
Free Trade Area ◽  
Secondary Source ◽  
African Countries ◽  
Trade Area ◽  
Long Run ◽  
The Future ◽  
Challenges And Opportunities

The paper examines the nexus between China’s coupling and economic relations with Africa under the Africa Continental Free Trade Area (ACFTA). It also analyses the future of ACFTR especially with the technical support African states will be enjoying through their collaboration with China or in the absence of such support, how Africa may utilize the opportunities available and the likely challenges to encounter in the implementation of ACFTA. Using the secondary source of data, findings show that the implementation of ACFTA can lead to substantial higher bilateral trade between China and Africa. The paper concludes that both in the short and long run, China and African countries stand to benefit immensely in the implementation of ACFTA. The paper recommends that African countries should ratify and domesticate ACFTA and should collaborate with China for the purpose of harnessing the opportunities and surmounting the likely challenges that may emanate from the implementation process.

scholarly journals Is There A Need For A Free Trade Agreement Between The European Union And Gulf Cooperation Council?

2013 ◽  
Vol 13 (1) ◽  
pp. 113
Author(s):  
M. Anaam Hashmi ◽  
Fahad Al-Eatani ◽  
Fareed Shaikh
Keyword(s):  
European Union ◽  
Free Trade ◽  
Free Trade Agreement ◽  
Bilateral Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Gulf Cooperation Council ◽  
The European Union ◽  
Secondary Sources ◽  
Trade Area

The need for a free trade agreement between the European Union (EU) and Gulf Cooperation Council (GCC) is analyzed in this research project. Trade flows between these two economic blocs are studied to understand the importance of trade for these respective blocs. Failure of the free trade agreement negotiation is attributed to the lack of economic focus and the EU demands to improve human rights in GCC member countries. Based on the secondary sources and data analyses, the primary interest of both economic blocs is to enhance geopolitical influence and not boasting bilateral trade. Despite recent failures, both sides are still committed to increased partnership in the future. It is concluded that an EU-GCC free trade area may be essential for increased cooperation in economic, as well as geopolitical, security, environmental, and cultural arenas.

A Note on West Arican Economic Co-operation

1973 ◽  
Vol 11 (1) ◽  
pp. 136-138 ◽  
Author(s):  
Robert L. Curry
Keyword(s):  
Developing Countries ◽  
Economic Integration ◽  
Free Trade Area ◽  
West African ◽  
Regional Economic Integration ◽  
Customs Union ◽  
African Countries ◽  
The West ◽  
Regional Economic ◽  
Trade Area

Recent articles by André Simmons and K. M. Barbour have analysed the various advantages of, and strategies for, regional economic integration in West Africa.1 This note focuses on the technical obstacles of full integration, and then on sub-regional economic co-operation as a more practical alternative.How can one agree upon an accepted distribution of the benefits from regional economic integration? How could this be implemented among the West African countries ? These are the most difficult and contentious problems associated with forming and operating any customs union and free trade area among the developing countries. If an acceptable distribution of benefits does not come about, then ‘the operation of existing groupings may easily be rendered ineffective or, in extreme cases, they may collapse. The experience of the last few years demonstrates that this is not a remote possibility.’2

Customs Union or Free Trade Area? The Role of Political Asymmetries

1999 ◽  
Vol 7 (4) ◽  
pp. 665-672 ◽  
Author(s):  
Subhayu Bandyopadhyay ◽  
Howard J. Wall
Keyword(s):  
Free Trade ◽  
Free Trade Area ◽  
Customs Union ◽  
Trade Area

scholarly journals How the Belt and Road Initiative Can Help Strengthen the Role of the SCO and Deepen China’s Cooperation with Russia and the Countries of Central Asia

2019 ◽  
Vol 75 (1) ◽  
pp. 56-68 ◽  
Author(s):  
Lu Na-Xi ◽  
Huang Meng-Fang ◽  
Lu Shan-Bing
Keyword(s):  
Central Asia ◽  
Free Trade Area ◽  
Asia Pacific ◽  
Regional Economic ◽  
Trade Area ◽  
Belt And Road ◽  
Shanghai Cooperation Organisation ◽  
Improved Model ◽  
The Belt And Road

China and Russia issued a joint statement on 8 May 2015 outlining the main approaches to linking the Silk Road Economic Belt (SREB) and the Eurasian Economic Union (EAEU) projects. Both parties believe that to build the ‘Belt and Road’ project, it is necessary to use economic integration laws and actively enhance the role of the Shanghai Cooperation Organisation (SOC) in stimulating regional economic cooperation, promoting construction of the SREB and linkage to and cooperation with the EAEU, creating a Free Trade Area (FTA) in the Asia-Pacific region (APR) and simultaneously begin creating a similar FTA among China, Russia and Central Asia to gradually stimulate interstate trade and promote regional economic development, actively developing—along with an improved model of energy cooperation—infrastructure and related industry and strengthening business contacts and jointly promoting construction of the SREB.

China-United Kingdom free trade area

2017 ◽  
Vol 10 (1) ◽  
pp. 111-126
Author(s):  
Shumei Chen ◽  
Dandan Li
Keyword(s):  
United Kingdom ◽  
Free Trade ◽  
Free Trade Area ◽  
Economic Effects ◽  
The European Union ◽  
Content Type ◽  
Trade Area ◽  
Simulation Results ◽  
The Uk ◽  
Trade Analysis

Purpose The purpose of this paper is to predict the likely economic effects of a free trade area (FTA) on both China and the United Kingdom (hereafter the UK). Design/methodology/approach Following literature review and trade relationship briefing, this paper uses the Global Trade Analysis Project simulation to predict the economic effects of such a FTA on both China and the UK. Findings The simulation results indicate that a China-UK free trade area (hereafter CUFTA) will bring more benefits than harm to both China and the UK, and achieving zero tariff or reducing technological barriers to trade (TBT) is mutually beneficial for both China and the UK, with the growth in GDP, economic welfare as well as import and export. Combining zero tariff and the reduction of TBT in exceptional departments is the most favorable way to improve the macroeconomic effects without bringing damaging effects on the comparative disadvantage industries such as transport equipment, chemicals industries for China and textiles and apparel industry for the UK. Originality/value After the UK voted to leave the European Union, CUFTA is put on the agenda by both the governments, yet there are fewer studies on CUFTA, with this paper being one of the early trials. Besides, based on the simulation results, some policy suggestions will be put forward for future negotiations and industrial policies’ adjustment.

scholarly journals ANALYSIS OF RELATIONSHIP BETWEEN THE EUROPEAN UNION AND THE UNITED STATES IN THE PERIOD THE PRESIDENCY OF DONALD TRUMP (2017-2020)

2020 ◽  
pp. 35-39
Author(s):  
Andrei Martynov ◽  
Sergey Asaturov
Keyword(s):  
United States ◽  
European Union ◽  
Foreign Policy ◽  
Free Trade ◽  
United Arab Emirates ◽  
Migration Policy ◽  
Free Trade Area ◽  
The United States ◽  
The European Union ◽  
Trade Area

The European Union has met Donald Trump's presidency in a crisis, caused by Britain's exit, quarrels over migration policy and prospects for European integration. Trump has abandoned a project to create a transatlantic free trade area. He demanded a one-sided trade advantage for the United States. The rejection of the liberal project of multilateral foreign policy contributed to the deepening of contradictions between the EU and the US in the field of trade, environment, the regime of international disarmament treaties, the algorithm for resolving regional conflicts. The Trump era in US foreign policy was a time of abandoning liberal globalism. But it is impossible to realize this task in one cadence. The question is whether it is possible for Democrats to fully restore liberal globalism in equal cooperation with the European Union.Trump has abandoned the project of a transatlantic free trade area between the United States and the European Union. This shocked the European elites. Differences in approaches to world trade contributed to the coolness. The European Union is promoting a liberal approach. Trump insisted on the priority of the patronage of American interests. As a result, the tradition of relationships has suffered. Until 2017, the United States bought European goods and paid the most to the NATO budget. Trump demanded trade parity and more European funding for NATO. European elites perceived Trump's approach to migration issues as unacceptable. Trump's policy on international conflicts has become another reason for mutual misunderstanding. Trump recognized Jerusalem as the capital of Israel and helped establish diplomatic relations between Israel and the United Arab Emirates. This has become a challenge for the European Union's Middle East policy.

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