By JUDITH NAMUTOWE in Addis Ababa

TRADE experts have urged African Governments to embrace meaningful Bilateral Investment Treaties (BITs) to foster sustainable economic growth on the continent.
This follows findings contained in a report by the United Nations Economic Commission for Africa (UNECA) on investment policies and BITs which indicated a gap between signed treaties and the actual economic benefits.
The report which was launched at the weekend on the sidelines of the African Development week celebrations in Addis Ababa Ethiopia revealed that most signed treaties often favoured the investor, leaving African states battling with investment disputes.
To attract investments, African countries including Zambia have signed numerous BITs and Double Taxation Treaties (DTTs) in the hope of improving their economies.
The report cited a case where last year more than 3,000 signed trade BITs and DTTs were from Africa an indication that such arrangements had become a standard practice by many economies seeking to attract investors.
While there was a sense of realisation that investment plays a key role in promoting economic growth, sustainable development and financing development projects, experts have pointed out a degree of ambiguity between investments and   the signed agreements.
According to the experts, such agreements should be well approached and crafted with provisions that seek to balance the rights and obligations of host countries and investors but also minimise costly arbitrations.
African Union Commissioner for Trade and Industry, Fatima Haram
Acyl, said there was little conclusive evidence on the effect on Foreign Direct Investment (FDIs) and the signed agreements in most emerging economies on the continent.
“Many respondents for example indicated that investment treaties do not necessarily bring in much investment and instead pointed out that those agreements are often politically motivated,” Dr Acyl said.