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The scramble is on for African resources
Both the African Growth and Opportunity Act (AGOA) and the fast-tracked
Economic Partnership Agreement (EPA) seem to reflect less a genuine
desire in fairer trade for the true benefits of the African economies
than securing access to relevant markets and mainly the exploitation of
relevant natural resources in the interest of the European Union (EU)
and the USA, said Executive Director of the Dag Hammarskjöld Foundation,
Dr Henning Melber.
“It is not in the interest for Africa to enter in the current EPA
negotiations,” maintained Melber.
AGOA offered close to 40 African countries preferential access to the US
market through lower tariffs affording these countries comparative
advantage over other competitors. But, said Melber, the AGOA trade
volume is mainly composed by the export of US-manufactured high-tech
goods and machinery and the import of mainly oil, strategic minerals and
other natural resources for meeting the demand of US-based industries.
So for example, he said, almost 20 % of the US-imported crude oil is from
Gabon, Angola, Nigeria and other African countries, with a forecast that
oil imports from Africa to the USA will increase to at least 30 % of the
annually needed supply.
Trade analyst, Wallie Roux, who previously came under fire and eventual
suspension from Meatco for criticizing the EU hastening African,
Caribbean and Pacific (ACP) countries into the signing of the new EPAs,
said the duty-free, quota-free agreement would have the effect that
mostly the export raw materials will be given preferential trade
provisions, and that value-added goods will be slapped with tariffs as
set out in former trade agreements.
