In February 2023 the African Union Assembly of Heads of State and Government adopted the Protocol on Investment to the Agreement Establishing the African Continental Free Trade Area (AfCFTA), a flagship project of Agenda 2063 of the African Union. The Protocol on Investment seeks to enhance the contribution of investment to growth and sustainable development in the African Continent by advancing investment policy reform and co-operation.
The Protocol builds on the existing investment treaty reform objectives and best practices pursued within the African Union, the regional economic communities as well as UNCTAD, and, in particular, the principles espoused in UNCTAD's Investment Policy Framework for Sustainable Development. It furthers African States’ modernization of their domestic investment regimes to promote and protect investment, balancing the countries’ developmental interests with those of investors and affirming the sovereign right of States to regulate investments in the public interest.
In line with the Road Map on the 2023 African Union Theme of the Year, “Acceleration of the AfCFTA Implementation”, this side event unites key actors in investment promotion, facilitation and protection: governments, development partners, regional/international organizations to discuss the key innovative features of the Protocol and next steps in its implementation, aimed to stimulate public and private action on investment for sustainable development in Africa.
Session themes:
- How does the AfCFTA Protocol on Investment support public and private action for investment in sustainable development in Africa?
- How do the key innovative features of the Protocol on Investment further African countries’ efforts to reform their international investment agreements networks?
- How can countries and the AfCFTA Secretariat cooperate to accelerate the implementation of the Protocol on Investment?
Speaker(s)
