The third India-Africa Forum Summit to be held in New Delhi later this month – in which 54 African countries will participaate – is expected to result in a deeper engagement between India and Africa. This summit takes place at a time when both need each other more than ever before. Both remain bright spots in a bleak and blighted growth landscape. Out of 189 countries, only 63 are expected to grow by 4 per cent and more this year, 36 of which are in Africa. But many countries there are adversely impacted by China's diminishing appetite for commodities and shrinking trade. India is currently one of the fastest growing economies in the world.
The decisive result of the Greek referendum held Jul. 5, in which voters overwhelmingly rejected (61.3 to 38.7 percent) the terms of an international bailout, has opened a new chapter not only for the future of Greece, but also in terms of the essence of the European Union itself.
The latest report by the World Trade Organisation (WTO) on G20 trade measures shows a slight deceleration in the application of new trade-restrictive measures by G20 economies, with the average number of such measures applied per month lower than at any time since 2013.
In his memoirs, Glimpses of a Global Life
, Sir Shridath Ramphal, then-Foreign Minister of the Republic of Guyana, who played a leading role in the evolution of the Lomé
negotiations that lead to the birth of the African, Caribbean and Pacific (ACP) Group of States, pointed to the significant lessons of that engagement of developed and developing countries some 40 years ago and had this to say:
We are witnessing a shift in the original rationale behind the unique relationship between the European Union and the African, Caribbean and Pacific countries of the ACP group, which goes beyond the logic of “unilateral aid transfer”, “donor-recipient approach” and “North-South dialogue”.
Three Palestinian fishermen were injured last week after Israeli naval forces opened fire on fishing boats off the coast of al-Sudaniyya in the northern Gaza Strip, bringing to 15 the number of farmers and fishermen shot and injured by Israeli security forces recently as they attempted to earn a living.
It has been apparent for some time that we are in the midst of a historic shift of the centre of gravity of the global economy from the trans-Atlantic to what is now becoming known as the Indo-Pacific.
“Four decades of existence is a milestone for the ACP as an international alliance of developing countries,” Dr Patrick I. Gomes of Guyana, newly appointed Secretary-General of the African, Caribbean and Pacific group of countries, said at the opening of the 101st Session of the group’s Council of Ministers.
Up to 80 percent of global trade is supported by some form of financing or credit insurance. Yet in many countries there is a lack of capacity in the financial sector to support trade, and also a lack of access to the international financial system. Therefore the ability of these countries to use simple instruments such as letters of credit is limited.
Almost exactly two years ago, on the morning of Apr. 24, over 3,600 workers – 80 percent of them young women between the ages of 18 and 20 – refused to enter the Rana Plaza garment factory building in Dhaka, Bangladesh,
because there were large ominous cracks in the walls.
They were beaten with sticks and forced to enter.
The visit to Cuba of Federica Mogherini, High Representative of the European Union for Foreign Affairs and Security Policy on Mar. 23-24, and the forthcoming visit in May planned by French President François Hollande, have fast-tracked the agenda of relations between the European Union and Cuba.
Every day we receive striking data on major issues which should create tumult and action, but life goes on as if those data had nothing to do with people’s lives.
“There are still prospects for a meaningful ACP-EU partnership, capable of contributing and responding concretely and effectively to the objectives of promoting and attaining peace, security, poverty eradication and sustainable development,” according to the top official of the African, Caribbean and Pacific Group of States (ACP).
As the international community wades into the political discussions regarding the alternatives to the Millennium Development Goals (MDGs) after 2015 and the design of the Sustainable Development Goals (SDGs) as mandated by the Rio+20 conference, it is timely to consider the question of whether development is a matter mostly of individual effort on the part of nation-states or whether there are elements in the international economic system that could serve as significant obstacles to national development efforts.
With annual economic growth rates of over 10 percent and attractive investment conditions due to low infrastructural and labour costs, Ethiopia is eagerly trying to rise from the status of low-income to middle-income country in the next 10 years.