You are here: HomeAfrica2020 01 20Article 338305

Africa Business News of Monday, 20 January 2020

Source: BBC

UK-Africa summit: Wooing Africa after Brexit

Boris Johnson Boris Johnson

After Brexit, the UK wants to boost business trade with Africa, but as a major UK-Africa business summit starts in London, Matthew Davies asks if there really will be new opportunities for the continent.

Trade is tricky. Trade agreements are trickier. Trade negotiations to get those agreements are exponentially more complicated.

And the road that the Brexit can has been kicked down for so long is rapidly running out.

Once the UK leaves the European Union at the end of January, it has 11 months to come up with a trade deal with the European Union to avoid reverting to WTO rules.

Prime Minister Boris Johnson and his Leave supporters have always expounded the virtues of being outside the EU, including the ability to negotiate its own trade deals on its own terms for the benefits of its own citizens.

Being part of a big gang has its advantages and disadvantages.

Yes, you have to make compromises and adapt your goals to match commonly-agreed policies. But you also get the power of the bloc behind you in trade negotiations.
The UK's International Development Secretary, Alok Sharma, is, as one would expect, very optimistic saying that Britain's relations with Africa will be "turbo-charged", with trade, business and investment deals being struck left, right and centre.