THE NEW LOVE FOR AFRICA: INDIA, CHINA, TURKEY. WHO IS NEXT? IS AFRICA THAT PRETTY? PRESENTED BY: ABOAGYE MINTAH & KOFI BOAHEN IMANI Center for Policy and Education

STRUCTURE OF PRESENTATION  Background  Traditional Partners / Economic & Political relations  New Partners / Economic & Political relations  Why Africa ?  Who is Next?  Rules of Engagement  Way Forward

BRIEF HISTORY OF AFRICA’S FOREIGN TRADE  Africa has had a long history of trading with foreigners, particularly Europeans. The Portuguese first explored the West Coast of Africa largely trading in Gold, and moved to slave trade.  The British joined in around 1564 with the John Hawkins expeditions.  Subsequently, the French, Spanish and Germans all joined in.  After the abolition of slave trade in 1807, former traders metamorphosed in colonizers.  After the wave of independence movement spread throughout the African continent in the 50s and 60s.  Former colonizers lost political power, but obviously held on to economic dominance.

AFRICA’S “ TRADITIONAL LOVERS”  UK  Germany  France  The Netherlands  USA

EU - ECONOMIC & POLITICAL RELATIONS DIPLOMATIC MISSIONS IN AFRICA: UK = 47 GERMANY = 45 FRANCE = 66 THE NETHERLANDS = %

USA - ECONOMIC & POLITICAL RELATIONSHIP DIPLOMATIC MISSIONS IN AFRICA 56 36%

AFRICA’S “NEW LOVE”  TURKEY:  GDP (PPP) - $1.65 trillion; $21,198 per capita ; 17 th largest economy by GDP  CHINA  GDP (PPP) - $20.85 trillion; $15,095 per capita; 2 nd largest economy by GDP  INDIA  GDP (PPP) - $8.027 trillion; $6,209 per capita; 7 th largest economy by world exchange rates

TURKEY - ECONOMIC & POLITICAL RELATIONS DIPLOMATIC MISSIONS IN AFRICA %

CHINA - ECONOMIC & POLITICAL RELATIONS DIPLOMATIC MISSIONS IN AFRICA: ,400%

INDIA - ECONOMIC & POLITICAL RELATIONS DIPLOMATIC MISSIONS IN AFRICA: %

WHY AFRICA ?  Natural resources:  Arable Land - 30 million square kilometers of land  Minerals - Africa ranks first or second in abundance globally for the following minerals: Bauxite, Diamonds, Cobalt, Platinum group metals, Gold  Oil & Gas  Human resources  Political interest & influence  Global challenges (Turkey, Russia)  Agricultural produce  Improving political environment (Governments adopting democracy)  Growing Purchasing Power:  Combined spending power of $1.3 trillion

WHO IS NEXT ?  Russia  GDP (PPP) - $3.6 trillion; $25,185 per capita; 12 th largest economy by GDP  Brazil  GDP (PPP) - $3.2 trillion; $15,690 per capita; 7 th largest economy by GDP

RUSSIA - ECONOMIC & POLITICAL RELATIONS DIPLOMATIC MISSIONS IN AFRICA: %

BRAZIL - ECONOMIC & POLITICAL RELATIONS 4.3 DIPLOMATIC MISSIONS IN AFRICA: %

RULES OF ENGAGEMENT? WHO’S SETTING THE AGENDA?  TURKEY has signed Trade & Economic Cooperation Agreement with 38 African countries.  Areas of cooperation – Economic, Development assistance, Health sector, Security, Transport, Cultural  Tenth National plan = 2014 – 2018  INDIA – The Africa-India Strategic Plan  Areas of cooperation:  Economic – Trade and Industry  Renewable energy  Infrastructure

RULES OF ENGAGEMENT? WHO’S SETTING THE AGENDA?  CHINA announced in 2015, ten (10) strategic plans to boost cooperation in Africa = Industrialisation, Infrastructure, Financial services, Green development, Public health, Trade and Investment facilitation,  Chinese President Xi announced US$ 60 billion of funding support

AFRICA’S COUNTER PLANS - PAST EXPERIENCES  ECONOMIC PARTNERSHIP AGREEMENT (EPA)  NATIONAL EXPORT STRATEGY (NES)  AFRICAN GROWTH AND OPPORTUNITY ACT (2000 – 2025)

MOVING FORWARD  Need for long – term strategic plans  Diversification of exports  Value addition of exports  Building up local industries and manufacturing sector  Provision of foundational infrastructure (roads, power, etc)  Maintaining macroeconomic stability  Improve inter-continental / regional trade relations

APPRECIATION THANKS FOR YOUR ATTENTION