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United Kingdom Prime Minister Theresa May’s three-day whirlwind tour of sub-Saharan Africa on a mission to strengthen Britain’s post-Brexit trade and investment may not offer much to the continent after it became apparent that the UK will be planning to roll over “copycat” European Union agreements with African nations.
In her first stop in South Africa, the Prime Minister announced plans to carry over the European Union’s Economic Partnership Agreement (EPA) with the five member Southern African Customs Union (Sacu) once the EU’s deal no longer applies to the UK.
“I am announcing an additional $5.2 billion of UK investment in African economies, with the hope of further matching investment from the private sector to come. I’m also delighted that we will today confirm plans to carry over EU’s Economic Partnership Agreement with the Southern African Customs Union and also bring in Mozambique, once the EU’s deal no longer applies to the UK,” PM May said, adding that she is planning to push UK to be the G7’s number one investor in Africa in the next four years.
For the region, this comes as an anti-climax given that it had hoped that the visit would be part of an attempt at a new African trade deal.
It had been hoped that her visit to Kenya would push for improved trade relations, given that the share has been declining continuously for both countries.
In July, the UK Trade Commissioner for Africa Emma Wade-Smith said that post-Brexit, Britain would push for lowering of tariffs to ramp up the low UK-African trade numbers.
Source The East Africa
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.