Brussels, 16/02/2011 (Agence Europe) - The economic partnership agreement (EPA) between the EU and two Pacific states - Papua-New Guinea and Fiji - which are members of the ACP group, has been formally concluded. On Tuesday 15 February, the Council of the EU gave its assent to the text of this agreement which will progressively liberalise trade with the intention of putting trade at the service of development. Council approval came without debate on the sidelines of the Ecofin Council. The European Parliament gave its assent on 19 January.
Negotiations on this EPA, which complies with WTO rules, were finalised in November 2007. Having been initialled by Papua-New Guinea and Fiji at the end of that year, the agreement has been provisionally implemented since January 2008. Restricted to trade in goods, it states that, over a period of 15 years, Papua-New Guinea will abolish its customs duties on 88% of imports from the EU. For Fiji, the figure is 87%. (A.N./transl.rt)