Brussels, 17/10/2014 (Agence Europe) - Negotiations for an economic partnership agreement (EPA) between the EU and the East African Community (Burundi, Kenya, Rwanda, Tanzania and Uganda) have been concluded, European Commission announced on the evening of Thursday 16 October. The text of this asymmetric trade liberalisation agreement between the EU and a sub-region of the ACP (Africa, Caribbean, Pacific) group must now be put forward for the approval of both sides.
Under this future EPA, which is compatible with WTO rules and was negotiated within the framework of the Cotonou Agreement, the countries of the region have agreed to liberalise 80% of their market over 15 years, whilst their own products have benefited from duty-free and quota-free access to the European market since 2008, under the regulation on market access (regulation 1528/2007).
In addition to the abolition of customs tariffs, the text of the agreement also covers the free movement of products, customs and taxation cooperation and defence instruments.
Karel De Gucht, European Commissioner for Trade, expressed his hopes that “these EPAs will be signed and implemented soon”.
Readers may recall that the EU set the ACP countries which are not LDCs (least-developed countries) the deadline of October 2015 to sign or ratify an EPA, or their duty-free and quota-free access to the European market for their products could be withdrawn. This threat concerned only Kenya, the only country of the East African Community which is not an LDC (which benefit from the “Everything but Arms” initiative) and which could come under the GSP regime.
The East African Community has a common external tariff, finalised a framework agreement in 2007 on removing customs duties between the countries of the region and is moving towards monetary union. In 2013, trade between the EU and the East African Community represented €5.8 billion. The EU imports mainly coffee, cut flowers, tea, tobacco and vegetables with a value of €2.2 billion and exports mainly machinery, equipment and spare parts, vehicles and pharmaceutical products, with a value of €3.5 billion.
Initially, the deadline set by the WTO for the conclusion of EPA agreement compatible with multilateral trade rules was the end of 2007. (AN)