What do free trade zones claim to offer?
The hope is that free trade zones will boost both trade and Africa’s economic independence. Babatunde Raji Fashola, governor of Lagos State The Lagos State governor wants to boost Nigeria’s economic clout Babatunde Raji Fashola, governor of Lagos state, told Africa Business Report: “At airports, Nigerians are the people you see with excess luggage and it comprises mainly of household goods, clothing. “Every time we import goods, we invariably, without knowing it, export jobs because we keep those industries offshore.” World trade experts also believe in the future, more of the world’s big multi national deals will be “South-to-South”, ie between Southern Hemisphere nations. A recent example is a plan by India’s mobile phone giant, Bharti Airtel, to take a controlling stake in South Africa’s MTN. Free trade zones can greatly boost the attraction of such deals. Is there any evidence they work? Some critics claim that free trade zones give an unfair advantage to multinational corporations
