Investment Facilitation in Regional Economic Integration in Africa: The Cases of COMESA, EAC and SADC

Abstract

A rethink of the purpose of investment treaties is progressively leading to a paradigm shift. Whereas the traditional model of investment treaties has emphasised the protection of investments, we are witnessing a change in focus to the facilitation of investments. Simultaneously, there is a deliberate and conscious effort to restrict the scope of coverage of the standards of protection typically offered under such treaties. These developments in the international investment regime are discernible in the regional investment instruments concluded by the Common Market for Eastern and Southern Africa (COMESA), the East African Community (EAC) and the Southern African Development Community (SADC). A corresponding move is also beginning to emerge at the national and bilateral levels. Cumulatively, these changes in investment instruments signal a developing trend in future investment agreements negotiated and concluded by COMESA, EAC and SADC Member States.