Africa's civil society calls for ban on new investment treaties
Civil society organizations across Africa, including those from Tanzania, Zimbabwe, South Africa, and Uganda, are calling for a ban on signing new international investment agreements. They are also demanding a full audit to assess the damage caused by existing agreements. This comes in response to growing concerns about Bilateral Investment Treaties (BITs), which prioritize foreign investors' interests over public goods such as environmental protection, labor rights, and local industries. Dr. Rob Davies, a former South African trade minister and economist, advises governments to carefully review these agreements before signing them. He suggests that countries should allow harmful treaties to expire instead of renewing them.
