Need for Establishment of a Single Institution as a Paradigm Shift

The book sets out to examine some basic rules of World Trade Organisation (WTO) and their effect on African trade; the paradox that more than any other continent, Africa is blessed with natural resources and ought to be a role model of human and economic development to other countries such as China, India and South Korea, but she remains poor in terms of human, economic, and institutional development. The book finds that African trade growth experience is characterised by heavy debt burden, institutional decay and trade subservience under the rules of GATT as annexed to World Trade Organisation. The book thereafter concludes that Intra African Trade Agreement and African Continental Free Trade Areas recently signed is not the solution to Africa’s trade growth as only a case of an old wine in new wine bottle. The book concludes by suggesting that the solution to Africa’s trade development and growth lies in the establishment of a single umbrella trade organisation.