The EPA issue has once again re-emerged when, in early July, Tanzania informed East African Community( EAC) members and the European Union (EU) that it would not be able to sign the Economic Partnership Agreement (EPA) between European Union (EU) and the six EAC member states.
We live now in a fast-changing world. The paradigm of globalisation and free trade is being questioned. It is now being asked whether state capitalism might be the next model of the day: capitalism guided by the strong hand of the state. As this debate continues, the reality is that the markets of Africa’s major trading partners –the U.S. and EU– are stagnant or even shrinking. On the other hand, our markets are growing, as are the markets of the emerging developing economies.