Africa Trade and Investment Convention is a business conference and exhibition designed specifically: o To promote and facilitate international trade between Africa and Europe, North America and Asia. Leaving the EU theoretically allows the UK to make independent trade agreements better tailored to individual African nations. Tariffs are of course only part of the picture, and it could be that different regulatory regimes between the EU and African countries inhibit this trade . In other words, the EU is considered as a single trading entity and trade flows are measured into and out of the area, but not within it. European Union, Trade with South Africa Key Figures Indicator Unit Period Imports Exports Total trade Balance Last year Mio euros 2019 18,963 23,026 41,989 4,062 Rank as EU partner 2019 21 22 19 Share in EU trade % 2019 1.0 1.1 1.0 Annual growth rate % 2018 - 2019 10.1 6.0 WCO Trade Tools provides essential information to support your trade activity. As a result, the bulk of Africa’s export to the EU is unroasted green coffee and German manufacturers reap the rewards. o To facilitate foreign direct investment into Africa o Provide a … This page was last modified on 22 January 2021, at 15:32. EU exports of goods to Northern Africa rose from EUR 54 billion in 2009 to EUR 76 billion in 2019 (see Figure 5), equivalent to an average annual growth rate of 3.5 %. Trading under the AfCFTA expected to commence on: African Union Commission, Department of Trade and Industry, features protocols on trade in goods, trade in services, investment, intellectual property rights, competition and dispute settlement, AfCFTA Secretariat, Accra, Ghana being established with an interim- Secretariat within the African Union Commission, Addis Ababa, Ethiopia, The EU is Africa’s largest trading partner: 30,7% of Africa’s total trade (2019), The EU is Africa’s largest source of FDIs: EUR 221 billion of FDI stocks in Africa (2017). In 2009, 77 % of goods exported from the EU to Africa were manufactured goods (see Figure 3). Because the 28 EU Member States share a single market and a single external border, they also have a single trade policy. This article provides a picture of international trade in goods between the European Union (EU) and Africa. In practice this means that the goods imported by the EU-27 from the United Kingdom were physically transported from the United Kingdom but part of these goods could have been of other origin than the United Kingdom. Cyprus (25.3 %), Portugal (21.1 %) and Malta (18.6 %) had the highest shares for exports to Africa in their total exports to countries outside the EU. As the trade element is the most contentious, it is the focus of this analysis. More actions covering all aspects of the AfCFTA are being developed upon clear demand of and in close partnership with the African Union Commission. An overview of the EU-West Africa EPA. In exports it was followed by other African countries (16 %) and China (11 %). While the AfCFTA entered into force on 30 May 2019, the extraordinary AU Summit on the AfCFTA held in Niamey on 7 July 2019 launched the operational phase of the AfCFTA with the agreement that trading under the AfCFTA will commence on 1 July 2020 and with the decision to award the hosting of the AfCFTA Secretariat to Accra, Ghana. Africa’s relationship with the European Union (EU) is at a critical juncture as officials from both continents seek to conclude a successor treaty to the Cotonou Agreement (a trade and aid partnership signed back in 2000 and due to expire in 2020). An overview of the EU-West Africa EPA. EU-Africa free trade agreement ‘destroys’ development policy, says Merkel advisor. Horn of Africa 2. At the same time, we are seeing rapid digitalisation. just 3.6 percent of world trade. Statistics on extra-EU trade are calculated as the sum of trade of each of the 27 EU Member States with countries outside the EU. It was EUR 8.8 billion in 2019. Europe is by far Africa's largest export market (35% of Africa's exports), followed by Africa itself (18%), China (11%), the USA (8%) and India (7%). The AfCFTA is a framework agreement covering trade in goods and services including the following protocols: Trade in Goods, Trade in Services, Intellectual Property Rights, Competition Policy, Investment and Dispute Settlement. For imports these two had switched places, second was China (16 %) and third were other African countries (13 %). So there are tariffs that affect some South African goods. Intra-African trade will continue via multiple tracks. EU support to process has been declined into actions in support to support to negotiation fora, provision of expertise in the AfCFTA unit and technical studies on impact upon demand of AU Member States (AU Support Programme), advocacy towards signature and ratification process (UNECA), provision of online tools for negotiations, design and establishment of the African Trade Observatory, integral part of the AfCFTA architecture (ITC). The EU is the largest market for Africa’s trade, accounting for $116 billion (34 percent) of the region’s total exports in 2017 (figure 3). In 2019, almost 70 % of goods exported from the EU to Africa were manufactured goods. take place in EU-Africa trade relations before 2015, when TF agreement imple-mentation should commence. Thanks to the ease of modern transport and communications, it is now easier to produce, buy and sell goods around the world which gives European companies of every size the potential to trade outside Europe. This plan aims to increase investment and job creation and thus also supports the objectives of the AfCFTA. The Economic Partnership Agreements (EPAs) are trade deals between Europe and regions in Africa, the Caribbean and the Pacific, designed to end preferential treatment of former European colonies. Concerning trade in goods, the goal is set for 90% of products at zero duty across the continent. COMEXT is the reference database for international trade in goods. EU-Africa relations are based on the 2000 Cotonou Agreement with African, Caribbean and Pacific (ACP) countries, which grew out of the 1975 Lomé Convention. New trade deals basically the same as the old ones. In September 2018 European Commission President Jean-Claude Juncker declared that the EU was willing to enter into trade talks with Africa as a whole if the AfCFTA came into effect. The European Union has concluded free trade agreements (FTAs) and other agreements with a trade component with many countries worldwide and is negotiating with many others.. Trade is an important indicator of Europe’s prosperity and place in the world. Africa is the continent with the youngest population, with an average age of 21. Figure 6, depicting the evolution of imports from the five African regions, shows a small decline of imports from Middle Africa between 2009 and 2019. Today it is responsible for the largest share of new in-vestment flowing to Africa, namely 23.9 per-cent in 2016; the top two EU countries, France and the United Kingdom, account for almost 5 percent each, while Germany occupies tenth place with just under 2 per-cent. It provides access not only to both recent and historical data from the EU Member States but also to statistics of a significant number of third countries. This is known as ‘special trade’. EU trade policy and Africa's exports The EU is Africa's main customer for food and manufactured products Africa's exports to the European Union amounted to more than €116 billion in 2016. Despite the fact that most African countries have zero tariffs on exports to the UK, trade between the UK and Africa is a lot less than trade between the UK and the EU. Germany's development minister has sparked a debate by calling for EU tariffs to be waived on African goods. South Africa has enjoyed preferential market access to the EU under the Trade, Development and Cooperation Agreement (TDCA) since 1 January 2000. The highest surplus, EUR 4 billion, was found in Belgium followed by Germany and France (both EUR 3 billion). EU trade policy and Africa's exports The EU is Africa's main customer for food and manufactured products Africa's exports to the European Union amounted to more than €116 billion in 2016. At the same time, we are seeing rapid digitalisation. EU’s main trade obligations The six countries that had a trade in goods deficit with Africa were Croatia (EUR -86 million) in 2009 EU exports to and imports from Africa were very close and the trade balance was only EUR 2.3 billion (see Figure 2). It is called a FOB value (free on board) for exports and a CIF value (cost, insurance, freight) for imports. In 2018, total trade in goods between the 27 EU Member States and Africa was worth EUR 235 billion – more than 30 % of Africa's total. EU Aid for Trade is a well-established work stream in EU development cooperation at continental, regional and national levels. Data from the perspective of Africa (as used in figure 1) is based on statistics from UNCTAD, combining data from UN Comtrade, IMF, Eurostat, UNCTADstat and UNCTAD secretariat calculations. The reason for this is that Africa is punished by the EU with a 7.5 per cent tariff charge on roasted coffee but non-decaffeinated green coffee is exempt. Progressive principles for trade relations between EU and Africa Trade unions consider free but fair trade to be of great importance for economic growth and sustainable development. Markets for products and services are also needed to increase sustainable investments and jobs- the main goals of the Africa-Europe … The different protocols are negotiated in two phases (see figure below). The EU and its Member States remain the global Aid for Trade donor leader (32%) with an all-time high of EUR 13,5 billion in 2016. The AfCFTA is the African continent’s most ambitious integration initiative, embedded in the Agenda 2063 of the African Union, whose main objective is to create a single continental market for goods and services with free movement of people and investments, thus expanding intra-African trade across the continent, enhancing competitiveness and supporting economic transformation in Africa. The most obvious and damaging exhibit is, of course, the Common Agricultural Policy which takes up half the EU budget and lavishes subsidies onto the EU’s biggest landowners at the expense of millions of the poorest farmers in Africa. Africa Trade and Investment Convention is a business conference and exhibition designed specifically: o To promote and facilitate international trade between Africa and Europe, North America and Asia. These arrangements, especially those that are Free Trade Areas or Customs Unions, have their own deeper integration agendas, which they will continue to pursue. In Ghana, a EUR 13 Million programme created safer production and harvesting processes on cereal crops, Ghana’s leading export commodity. Africa and Europe share deep economic, cultural, linguistic, and political bonds. For more on free trade agreements, see Douglas A. Irwin, “International Trade Agreements,” in David R. Henderson, ed., The Concise Encyclopedia of Economics. The European Union negotiates free trade deals on behalf of all of its member states, as the member states have granted the EU has an "exclusive competence" to conclude trade agreements. The European Union negotiates free trade deals on behalf of all of its member states, as the member states have granted the EU has an "exclusive competence" to conclude trade agreements. The EU is South Africa’s main trading and investment partner. This compares to EUR 125 billion for China and The Partnership and Joint Africa-EU Strategy, Investing in people- education, science, technology and skills development, Strengthening Resilience, Peace, Security and Governance, Mobilising Investments for African structural sustainable transformation, Democracy, good governance and human rights, Sustainable and inclusive development and growth & continental integration, United Nations Economic Commission for Africa. The EU trade policy is an important element of the external dimension of the ‘Europe 2020 strategy for smart, sustainable and inclusive growth’ and is one of the main pillars of the EU’s relations with the rest of the world. Africa's exports to the European Union (EU) amounted to more than €116 billion in 2016. This Brief updates a previous analysis of the EU-Africa trading relationship from 2006 to 2015. The EU plays a very prominent role in North Africa’s trade, representing by far the largest trading partner of countries in the region, on account of its size, geographic proximity, linguistic and colonial ties, and the existence of large North African diasporas in Europe. The EU says it gives fully or partly duty-free access to 98.7% of imports coming from South Africa. The EU support to the AfCFTA can be categorised into: Support to the process includes direct support to the African Union Commission and its Trade and Industry Department where the AfCFTA negotiation support unit is embedded. Africa’s share of global trade has increased steadily, from $277 billion EU-Africa trade and investment hold huge potential for the future. EU-Africa relations are based on the 2000 Cotonou Agreement with African, Caribbean and Pacific (ACP) countries, which grew out of the 1975 Lomé Convention. For imports from Africa, primary goods are the largest group (see Figure 4). However, the United Kingdom was still part of the internal market until the end of the transitory period (31 December 2020), meaning that data on trade with the United Kingdom are still based on statistical concepts applicable to trade between the EU Member States. An EU-UK trade deal will reinforce the certainty and continuity that South Africa, Botswana, Lesotho, Namibia, and Eswatini – plus Mozambique are seeking in their relationship with the UK. This will be driven forward by the complementary Single African Air Transport Market and the Protocol on Free Movement of Persons. Europe and Africa have close historical, cultural and geographical ties. According to the European Commission Directorate-General for Trade.The 10 largest trading partners of the European Union with their total trade (sum of imports and exports) in millions of euro for calendar year 2020 are as follows. Given Africa’s flirtation with socialism and protectionism from the 1960s through at least the 1980s, this is a welcome development. Try the new automatic translation by clicking on the blue icon “Translate” up in the right corner of the article! Africa’s main trade in goods partner is the EU, Manufactured goods dominate exports to Africa, Primary goods dominate imports with Africa, Northern Africa largest trade in goods partner, Spain, France, Germany, the Netherlands and Italy largest EU trade in goods partners for Africa, Standard international trade classification (SITC), Full access to detailed statistics on international trade in goods (Comext), International trade in goods statistics - background, User guide on European statistics on international trade in goods, https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Africa-EU_-_international_trade_in_goods_statistics&oldid=512857, Source: Eurostat (online data code: Comext data code : DS-018995). It follows Nigeria's decision earlier this year not to join the African Continental Free Trade Agreement. For African exporters, the EU is the world's most open market. This would only be logical given that the EU has for decades been encouraging African regional integration. This Trade Data Update documents the trading relationship between Africa and the European Union from 2007 to 2016. Through its Pan-African Programme the EU has earmarked a total of EUR 72.5 Million to support the AfCFTA in the period 2014-20. Two years later, in 2016, the EU had a record surplus in trade in goods (EUR 33 billion). For extra-EU trade, the statistical information is mainly provided by the traders on the basis of customs declarations. If trade agreements are renegotiated between the EU and the UK and they (the UK) get less trade from the EU due to them leaving the EU other countries stand to gain, South Africa included, but based on the current size of trade between South Africa …
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