Brussels, 23/07/2014 (Agence Europe) - The interim economic partnership agreement (EPA) between the European Union and Fiji is now officially ready for implementation by Fiji following its ratification by that country. The EPA has already been ratified by Papua New Guinea. On 18 July, the government of Fiji notified the EU of its decision to apply this agreement for the progressive and asymmetric liberalisation of trade with the EU.
Initialled by Papua New Guinea and Fiji (two of the ACP - Africa Caribbean and Pacific - states) at the end of 2007, this interim EPA has been provisionally implemented since January 2008. Limited to trade in goods, the EPA ensures products from Fiji (and Papua New Guinea) duty- and quota-free access to the European market. As a counterpart, it requires Fiji to abolish its customs duties on 87% of its imports from the EU over 15 years. For Papua New Guinea, this figure is 88% (see EUROPE 10681). The EU mainly exports electrical machinery and equipment to Fiji. Fiji's exports to the EU mainly comprise sugar cane, other agricultural products and fish.
The trade negotiations, which were started in 2004 to replace the system of unilateral preferences enjoyed by the ACP countries with a system compatible with the WTO, will continue in order to conclude a regional EPA with the whole Pacific region - which includes 15 ACP countries. (AN)