In cooperation with the African Economic Research Consortium (AERC), Boston University, the Economic Research Forum (ERF), the Nelson Mandela School of Public Governance at University of Cape Town, and the Research Network Sustainable Global Supply Chains, IDOS organised the second edition of the “Africa in the Global Economy” conference in Bonn on 5 and 6 December 2024.
©IDOS
The conference featured keynote speeches by Ben Shepherd (Developing Trade Consultants) and Deborah Winkler (The World Bank), and participants and policy experts discussed the latest insights on topics such as the deepening trade and value chain relations within Africa and with external partners as well as the effects and determinants of foreign direct investment and digitalization in Africa.
The conference combined political timeliness and academic relevance, as Africa stands at a critical juncture in its role in the global economy: Rising geopolitical tensions, growing protectionism, particularly in the Global North, and climate change are playing their parts in many places on the continent. The regional repercussions and chances of these challenges, however, vary significantly, depending on each country’s adaptability.
In parallel, African countries have committed to ambitious economic reforms under the African Continental Free Trade Area (AfCFTA) to promote trade in goods and services and improve participation in value chains. Meanwhile, changing external conditions, from the EU’s Carbon Border Adjustment Mechanism and due diligence laws to the US Inflation Reduction Act, raise concerns of further marginalization of Africa but could also offer new opportunities for closer integration with Northern markets.
Given these dynamics, effective policymaking that advances the continent’s interests requires a profound understanding of their (medium to longrun) implications. The conference served as a platform for discussing and integrating new research on Africa’s (formal) economic relationships into the policymaking process.
