Progress since Gleneagles
ON TRADE AND INVESTMENT, A VAGUE
COMMITMENT HAS LITTLE TO SHOW
Little, if any, progress has been made in delivering any policy changes that help 'make trade work for Africa'. While aid for trade has increased over the years, it falls far short of the need. There has been some progress in terms of market access, but some products remain excluded and differences amongst programmes make them difficult to utilise. Further subsidy programmes have become entrenched. Momentum has all but vanished on the Doha Development Round. Things seem slightly more promising in terms of investment, with FDI to sub-Saharan Africa increasing nearly ten-fold from 2000 to 2008 (before a steep decline in 2009 due to the financial crisis) and anticipated capital increase for the African Development Bank, as well as new regional economic corridors taking shape. More must now be done to facilitate greater investment in the continent.