Least Developed Countries

In the grander scheme of things, amidst the crisis of climate change in which the vulnerability of Africa continues to unravel, Africa remains a preferred choice of FDI in agriculture for the export of green energy and for food. This situation raises concerns about displacements, conflicts, shrinking traditional landraces and continental food security writ large. The traction for agricultural FDI comes through the scheme of large scale agricultural land acquisitions, which activists framed as agricultural “land grabs”.

This new Continental Free Trade bloc is now entrusted with the competence to engage other FTA Blocs such as the European Union (EU), North American Free Trade Area (NAFTA) and Association of South Eastern Nations (ASEAN), on trade policy from an Afri-Centric perspective - the essence of Afri-Multilateralism. Hitherto, the various national governments across the Continent had engaged global trade from the prism of nationalistic interests but this new paradigm affords Africa, for the first time, an opportunity to engage on trans-Sahara, trans-Atlantic and trans-Pacific negotiations on an equal footing, and not under the auspices of 'emerging countries' or LDCs.

It has become increasingly clear with the unfolding of the EPA events that the failure of the Community to achieve basic set out objectives lies deeper than the merits of the projects embarked on. As it has not proved efficient to hold each Partner State to their commitments to the Community at all times, it is necessary to address the systemic weaknesses that allow unconstructive concerns to permeate well-intended goals.

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.