International Trade and Foreign Investment; a tool for Sustainable Development in Africa
RESEARCH PROPOSAL
Adeleke Fiyinfoluwa Fadesola
Title: International Trade and Foreign Investment; a tool for Sustainable Development in Africa
Historically, International Trade-Sustainable Development nexus dates back to the 1992 Earth
Summit in Rio de Janeiro when negotiators faced the task of defining how Sustainable
Development would be operationalized.1 Trade policy, it was agreed, should not operate at cross-purposes with international efforts to curtail environmental degradation or promote development.2 Building on an international consensus that recognized the importance of a supportive international economic cooperation, Agenda 21 proposes how sustainable development can be achieved and calls for a global partnership to ensure a growing world economy based on an open, equitable, secure, non-discriminatory, and predictable multilateral trading system where commodity exports of developing countries can find markets at fair prices free of tariff and nontariff barriers.
After a decade, the progress on the links between International Trade and Sustainable
Development was evaluated at the 2002 Earth Summit. Support for the Doha Round of negotiations and the implementation of the Monterrey Consensus on financing for development to promote “open, equitable, rules-based, predictable and nondiscriminatory multilateral trading and financial systems that benefit all countries in pursuit of sustainable development”3 was emphasized.
Economic recession which has taken a toll on the quantity and quality of jobs and economic action and social policies geared towards creating gainful employment for social cohesion and stability was one of the critical issues considered at the recent 2012 Earth Summit. Based on the foregoing, the importance of International Trade in achieving Sustainable Development cannot be overemphasized.
Objectives:
This work will examine the emerging trends in International Trade and the role of economic policies in achieving
Adeleke Fiyinfoluwa Fadesola
Title: International Trade and Foreign Investment; a tool for Sustainable Development in Africa
Historically, International Trade-Sustainable Development nexus dates back to the 1992 Earth
Summit in Rio de Janeiro when negotiators faced the task of defining how Sustainable
Development would be operationalized.1 Trade policy, it was agreed, should not operate at cross-purposes with international efforts to curtail environmental degradation or promote development.2 Building on an international consensus that recognized the importance of a supportive international economic cooperation, Agenda 21 proposes how sustainable development can be achieved and calls for a global partnership to ensure a growing world economy based on an open, equitable, secure, non-discriminatory, and predictable multilateral trading system where commodity exports of developing countries can find markets at fair prices free of tariff and nontariff barriers.
After a decade, the progress on the links between International Trade and Sustainable
Development was evaluated at the 2002 Earth Summit. Support for the Doha Round of negotiations and the implementation of the Monterrey Consensus on financing for development to promote “open, equitable, rules-based, predictable and nondiscriminatory multilateral trading and financial systems that benefit all countries in pursuit of sustainable development”3 was emphasized.
Economic recession which has taken a toll on the quantity and quality of jobs and economic action and social policies geared towards creating gainful employment for social cohesion and stability was one of the critical issues considered at the recent 2012 Earth Summit. Based on the foregoing, the importance of International Trade in achieving Sustainable Development cannot be overemphasized.
Objectives:
This work will examine the emerging trends in International Trade and the role of economic policies in achieving