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Cape Town - Individual African countries do not have the capacity, nor the human resources to negotiate trade agreements bilaterally against the wave of nativism and nationalisation sweeping through the US and Europe, Dr Mukhisa Kituyi, secretary general of United Nations Conference on Trade and Development (Unctad), told Fin24 on the side lines of the Mining Indaba taking place in Cape Town this week.
"Africa has already made lots of concessions to liberalise its customs and in a time of 'America first' the immediate consequences could be the US turning its back on multi-lateralism," said Kituyi.
"So, there is substantial anxiety about the future of US/Africa trade relations. President Donald Trump has already said Africa 'irrelevant', so at worst there could be a slowdown in terms of the African Growth and Opportunity Act (Agoa). Any uncertainty in market regarding Agoa products will lead to products manufactured in Africa like textiles or cars being quickly impacted. This will represent challenges to SA, for instance."
