Brussels, 26/11/2008 (Agence Europe) - The European Union and Côte d'Ivoire signed, on Wednesday 26 November in Abidjan, the bilateral “stepping stone” economic partnership agreement (EPA) that the two parties had concluded in December 2007, at the buffer date set by the WTO for entry into force of a new trade regime between the EU and ACP countries (African/Caribbean/Pacific), compatible with multilateral trade rules. The initialling of the agreement at the end of 2007 had allowed Côte d'Ivoire to avoid customs duties being raised for exports to the EU, and to make the WTO wait until the negotiation underway comes to an end on an economic partnership agreement (EPA) between the EU and the 16 countries of the Economic Community of West African States (ECOWAS).
The formal signing, required so that the stepping stone EPA can be notified to the WTO, was carried out by Amadou Koné, Ivorian Minister for African Integration, and Karl Falkenberg, Deputy Director General of DG Trade at the European Commission.
Since the full EPA was signed on 15 October this year (covering goods, services, investment, competition, intellectual property) between the EU and Cariforum, on behalf of the Caribbean region, the stepping stone EPA, limited to products alone, is the first to be officially signed. Côte d'Ivoire, like Ghana - two countries that are not among the least advanced - were the only ECOWAS countries to have initialled an interim EPA (Nigeria, an oil exporting country, had refused).
In a press release, Catherine Ashton, the new European trade commissioner, welcomes the official signing of the bilateral agreement, saying: “I hope that we can now make progress in negotiations for a regional economic partnership agreement with West Africa, addressing concerns and building confidence”.
Under this agreement for the gradual liberalisation of trade, Côte d'Ivoire enjoys duty-free/quota-free access to the EU market for nearly all its export goods, in exchange for 81% opening of its own market to European imports over a 15-year period. As of 1 January 2008, Ivorian market opening has been effective for some products that are not produced locally but used by Ivorian consumers and local companies, such as pumps, electricity generators, certain vehicles and chemicals. The agreement also provides assistance to improving the competitiveness of Ivorian industry, measures to help Ivorian exporters bring their goods into lines with EU sanitary and phytosanitary standards, and cooperation on more efficient customs procedures and fiscal adjustment. (A.N./transl.jl)