Abstract
As a result of the June 2016 referendum, 52 % of Britons voted to leave the European Union (EU) as a right under Article 50 of the EU Treaty. This political and socio-economic development in the global North has far-reaching implication for both North–South trade relations and South–South (S–S) regional trade agreements (RTAs). Brexit and its aftermath demonstrate the importance role that S–S RTAs could play in creating markets, jobs, and wealth in Africa. However, there is a need to take a critical review of economically functional S–S RTAs tools and approaches that can inform the development of higher impact and more scalable initiatives towards transforming African economies.
This ten-chapter book provides a comprehensive analysis of the South–South regional trade issues, with special focus on sustainably fostering Africa’s regional trade agenda. It also provides an innovative analysis of Africa’s RTAs from a bilateral trade perspective, thereby emphasizing the need for Africa to go beyond its focus on the trade of competitive goods towards reflecting the counterparts’ markets or growth potentials in RTAs negotiation strategies. Lastly, it discusses the contributions of S–S RTAs towards enhancing regional integration and economic expansion in Africa in particular, and the South in general.
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Notes
- 1.
RTAs are used as a generic term for bilateral or plurilateral free trade agreements, customs unions or common markets. Non-reciprocal preferential trade agreements such as Generalised System of Preferences (GSPs) are excluded by definition. In fact, what all RTAs in the WTO have in common is that they are reciprocal trade agreements between two or more partners. In recent times, trade negotiations between developed (rich) and under-developed (poor countries) have moved to regional (between two countries) agreements; usually regarded as regional trade agreements (RTAs). They include free trade agreements and customs unions, notified under Article XXIV:7 of the GATT 1994, and paragraph 2 (c) of the Enabling Clause, and Economic Integration Agreements under Article V:7 of the GATS. In fact, most modern RTAs extend beyond traditional trade policy mechanisms and tariff-cutting preferential treatment to include regional rules on investment, competition, environment and labour; preferential regulatory framework for mutual service trade; and increasingly complex intra-trade regulations which include inter alia: standards, safeguard provisions, customs administration, etc.
- 2.
Within the WTO context, RTAs are generally referred to as agreements concluded between countries not necessarily belonging to the same geographical region. Specifically, RTAs could be defined as agreements which are negotiated within the WTO provisions that relate specifically to conditions of preferential trade liberalization with RTAs.
- 3.
Based on the fact that preferential trade agreements (PTA) activities have transcended regional boundaries, the term ‘regional trade agreements’ (RTAs) and PTAs are often used interchangeably in the literature, and the rise of ‘regionalism’ is often used to describe the spread in PTA activities.’ (WTO Trade Report 2011). However, selected numbers of PTAs are currently enforced outside their strictly defined regions in that they include countries from other geographical areas, according to the regional definitions. It is crucial to note that the coverage and depth of preferential treatment varies from one RTA to another.
References
Africa Renewal (August, 2014) http://www.un.org/africarenewal/magazine/august-2014/intra-africa-trade-going-beyond-political-commitments
WTO (2016) WTO website. https://www.wto.org/english/tratop_e/region_e/regfac_e.htm
WTO Trade Report (2011) https://www.wto.org/English/res_e/reser_e/wtr11_brochure_e.pdf
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Odularu, G. (2017). Introduction: Increasing Dynamics and the New Trading Ecosystem for the South. In: Odularu, G., Adekunle, B. (eds) Negotiating South-South Regional Trade Agreements. Advances in African Economic, Social and Political Development. Springer, Cham. https://doi.org/10.1007/978-3-319-45569-3_1
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DOI: https://doi.org/10.1007/978-3-319-45569-3_1
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