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Publication Details

Reference
Bond, Patrick (2008) Trade, Investment and the Looting of Africa.  : 1-33.

Summary
Introduction
This conference on Economic Partnership Agreements (EPAs) poses a challenge: “Our collective responses to the EPAs must take several forms that would include a firm rebuttal of the EPAs based on solid scientific facts, as well as sound counter proposals for more socially inclusive and democratic development models within the continent, and more equitable and just relationships between Europe and Africa that would favour the economic and social development of Africa.”

This paper develops a critique of the overemphasis on trade with Northern buyers that characterises neoliberal economic policy conditionality, and the failure of those who promote trade especially in non-renewable resources (and multinational corporate investment in the petro-mineral-forestry sectors) to adequately factor in the harm done by premature extraction. In doing so, it promotes a different strategy – keep the resources in the ground – until the democratic political integration and economically just unification of Africa would allow for a much greater potential return on investment and trade. At present, EPAs and similar free trade strategies (including the New Partnership for Economic Development) have the effect of looting Africa (the title of a book from which the following pages are drawn).

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