The growth rate was highest in Eastern Africa (5.7 %) followed by Western Africa (5.4 %) and Southern Africa (5.2 %). Markets for products and services are also needed to increase sustainable investments and jobs - the main goals of the Africa-Europe Alliance launched in 2018. 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). 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. Data are collected by the competent national authorities of the Member States and compiled according to a harmonised methodology established by EU regulations before transmission to Eurostat. This strategy was agreed by the African Union and EU institutions, as well as by African and EU countries. Trade, when taking into account asymmetries, can contribute to a fairer, inclusive and socially just global trading system. It is implemented through periodical action plans. And it can get very complicated. Kenya is part of a trade bloc called the East African Community (EAC), which includes Uganda, Rwanda, Tanzania, Burundi … So there are tariffs that affect some South African goods. Yet the EU is also uniquely well-placed to offer Africa a true development partnership that is mutually beneficial for the two continents. EU-Africa free trade agreement ‘destroys’ development policy, says Merkel advisor. This Trade Data Update documents the trading relationship between Africa and the European Union from 2007 to 2016. An overview of the EU-West Africa EPA. EU-Africa trade and investment hold huge potential for the future. 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%). More actions covering all aspects of the AfCFTA are being developed upon clear demand of and in close partnership with the African Union Commission. Big econo-mies like Nigeria and South Africa are talking tough, but others are more circum - South Africa has enjoyed preferential market access to the EU under the Trade, Development and Cooperation Agreement (TDCA) since 1 January 2000. The different protocols are negotiated in two phases (see figure below). The EU is South Africa’s main trading and investment partner. The six countries that had a trade in goods deficit with Africa were Croatia (EUR -86 million) Slovenia (EUR -149 million), Estonia (EUR -154 million), Portugal (EUR -252 million), Italy (EUR -4 billion) and Spain (EUR -8 billion). 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). Trade is an important indicator of Europe’s prosperity and place in the world. Trade values are expressed in millions or billions (109) of euros. And it can get very complicated. The starkest example of the dark heart of the European Union is its brutal neo-colonial relationship with the Third World, particularly Africa. In 2009, 77 % of goods exported from the EU to Africa were manufactured goods (see Figure 3). After that, growing imports from Africa saw the trade surplus decline. The highest surplus, EUR 4 billion, was found in Belgium followed by Germany and France (both EUR 3 billion). EU’s main trade obligations However, between 2009 and 2019 there share decreased from 77 % to 66 % mainly due to the decreasing share of energy which is partly explained by falling oil and gas prices. Britain’s negotiations to reach a go-it-alone trade deal with Kenya by the end of the year are stoking tensions between Nairobi and its partners in a regional trade group. to the amount which would be invoiced in case of sale or purchase at the national border of the reporting country. For this reason, data on trade with the United Kingdom are not fully comparable with data on trade with other extra-EU-27 trade partners.The EU-27 data reflect the political change in the EU composition. As the trade element is the most contentious, it is the focus of this analysis. The EPAs were originally also meant to serve that end. 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. 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. 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. The EU is still Africa's biggest trading partner, accounting for 36 percent of all exports, ahead of China and the US. This was mainly due to increasing imports of machinery and vehicles from 7 % to 15 %. Nigeria's President Buhari refuses to sign West Africa-EU free trade agreement. To date, all African countries have signed the AfCFTA agreement and 54 national governments have formally committed to the establishment of the AfCFTA with the notable exception of Eritrea. For more on free trade agreements, see Douglas A. Irwin, “International Trade Agreements,” in David R. Henderson, ed., The Concise Encyclopedia of Economics. Western Africa (7.1 %) had the highest growth rate, followed by Southern Africa (6.2 %) and Eastern Africa (5.4 %). 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. 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. In 2019, 21 EU Member States had a trade in goods surplus with Africa. It follows Nigeria's decision earlier this year not to join the African Continental Free Trade Agreement. This article is part of an online publication providing recent statistics on international trade in goods, covering information on the EU's main partners, main products traded, specific characteristics of trade as well as background information. EU’s main trade obligations An overview of the EU-West Africa EPA. As a consequence, while imports from any other extra-EU-27 trade partner are grouped by country of origin, the United Kingdom data reflect country of consignment. In 2019, almost 70 % of goods exported from the EU to Africa were manufactured goods. o To facilitate foreign direct investment into Africa o Provide a … 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. South Africa | Brussels, 14 June 2019. Joint Africa-EU strategy The joint Africa-EU strategy was adopted in 2007 as the formal channel for EU relations with African countries. In the following years, both imports from and exports to Africa picked up, with imports growing slightly stronger. As the trade element is the most contentious, it is the focus of this analysis. Concerning trade in goods, the goal is set for 90% of products at zero duty across the continent. 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). But Europe still leads the field for in- The block is deeply integrated into global markets both for the products it sources and the exports it sells. Support to implementation includes support to AU Member States national customs administrations and RECs in the harmonisation of tariff nomenclature and adoption of the Harmonised System (WCO), development of national AfCFTA implementation strategies in pilot countries (UNECA), development of national capacities in the field of Intellectual Property Rights (EUIPO). It has also posted the greatest increase in demand for Africa’s higher value-added manufactures: these comprised $42 billion or 37 percent of its total imports from the region in 2017, up from $11 billion or 29 percent in 1997. This would only be logical given that the EU has for decades been encouraging African regional integration. This trend continued until 2012, when the trade deficit reached EUR 25 billion. take place in EU-Africa trade relations before 2015, when TF agreement imple-mentation should commence. Horn of Africa 2. Europe and Africa have close historical, cultural and geographical ties. o To facilitate foreign direct investment into Africa o Provide a … Africa is the continent with the youngest population, with an average age of 21. 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 … 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 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) The EU and its Member States are the largest providers of Official Development Assistance (ODA): 58% of total ODA to Africa amounting to EUR 24.9 billion in 2018. The EU-West Africa EPA negotiations were concluded on 6 February 2014, and the agreement has been signed by fourteen of the region’s sixteen countries, except Nigeria and The Gambia. 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. The EU and its Member States are the largest providers of Official Development Assistance (ODA): 58% of total ODA to Africa amounting to EUR 24.9 billion in 2018. Asia’s trade surge Africa’s growing trade with Asia, especially China, is of concern to Europe, says Mr. Hasselbach. New trade deals basically the same as the old ones. In 2014, EU and African countries agreed on the roadmap for 2014-2017.