Economic Partnership Agreements (EPAs) are trade and development agreements negotiated between the EU and African, Caribbean and Pacific (ACP) countries and regions. Notify me of follow-up comments by email. You can also register without comment. The EU is an important trading partner of acp countries, accounting for more than 21% of its trade with the world. The EU is sub-Saharan Africa`s second largest trading partner (for the first time directly after China); the EU is the second largest trading partner in the Caribbean region after the United States; and the EU is the third largest trading partner in the Pacific region (China and Australia are the first and second largest trading partners respectively). In Africa, epAs support the implementation of the Africa-Europe Alliance for Sustainable Investment and Jobs, launched in September 2018. They are key instruments of the EU`s global strategy for Africa. The economic pillar of this strategy identifies trade – in addition to regional and continental economic integration – as an important element in promoting the sustainable development of African countries. The overall objective of the EPAs is to contribute, through trade, to sustainable economic growth and poverty reduction in ACP countries. The EU is implementing seven Economic Partnership Agreements with 32 partners, including 14 in Africa.
The main objective of epas is to use trade and investment for sustainable development. The content of the agenda will be broadened, with agreements covering new topics such as services and investment. The EU`s trade relations with ACP countries are governed by the Cotonou Partnership Agreement signed in 2000 between the EU, its Member States and acp countries. Given that this comprehensive political, economic and development partnership expires in 2020, the parties are currently negotiating a successor agreement (the so-called “post-Cotonou” agreement). The agreement is balanced and fully in line with the EAC`s Common External Tariff. It prohibits unjustified or discriminatory import and export restrictions, which contributes to the EAC`s efforts to eliminate non-tariff barriers to intra-EAC trade. It supports the EAC`s regional integration agenda and is able to promote development. The creation of a reciprocal trade agreement poses to the EU the problem of how the special status of the ACP group can be reconciled with the EU`s obligations to the WTO. .
. .
