Decision on Trade and Investment in Africa

Jurisdiction
African Regional Bodies · African Union (AU)
Citation
EX.CL/Dec.205 (VII)
Regional Body / Author
Executive Council of the African Union
Date
2 July 2005
Language
English
Type
Decision

DECISION ON TRADE AND INVESTMENT IN AFRICA

DOC.EX.CL/188(VII)

The Executive Council:

  1. TAKES NOTE of the Report;

  2. EXPRESSES concern about the poor performance of Africa in attracting Foreign Direct Investment (FDI);

  1. WELCOMES the third round of the Global System of Trade Preferences (GSTP) negotiations currently underway and ENCOURAGES African countries to engage actively in those negotiations;

  2. REQUESTS Member States and the AU Commission to review the investment promotion strategies pursued by African countries in order to eliminate existing constraints to FDI inflows;

  3. CALLS ON international organizations like UNCTAD to support African countries to review their investment policies and identify more focused and targeted investment promotion strategies;

  4. REQUESTS the developed countries to introduce measures that will encourage Trans-national Corporations to increase investment in Africa to ensure that the market access opportunities granted to the continent result in attracting a steady flow of FDI;

  5. REQUESTS Member States that are not yet members, to join the GSTP Agreement in order to benefit from South-South trade;

  1. ENDORSES the Investment Climate Facility initiative of NEPAD.

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