Africa
–
The Economic Community of West African States and European Union have resumed negotiations on the economic partnership agreement, EPA, which was previously suspended
WEST Africa and the European Union will resume their suspended Economic Partnership Agreement, EPA, negotiations for the creation of a free trade area with a four-day senior officials’ meeting in Dakar, Senegal, beginning January 20. The negotiations were suspended in 2012 following divergences mainly over market access offer and the EPA Development Programme, EPADP, a dedicated funding programme to enable West Africa cope with the cost of adjustment to the impending trade regime.
The resumption of the negotiations followed the directive by the ECOWAS extraordinary summit in Dakar, last October calling for flexibility in the process. The summit also directed West Africa’s chief negotiators to “expeditiously resume the negotiations with their European Partners with a view to concluding a regional agreement as soon as possible.”
The regional leaders also directed the West African negotiators to ensure that adequate financing is provided for EPADP and fiscal adjustment costs to ensure a balance with the market access offer with free movement of persons and services also treated as priorities.
Initially, West Africa had offered to open 60 per cent of its market over 25 years. It later revised this position to 70 per cent over the same period citing the protection of the region’s fragile industrial base from cheaper goods from the EU. On the other hand, the EU has maintained its original position of an 80 per cent market opening over 15 years.
West Africa, comprising the 15 ECOWAS Member States and Mauritania, is also asking for 15 billion Euros in new funds for the EPADP, while the EU insists that the programme should be funded from existing bilateral and multilateral contributions.
On the market access offer, West African leaders noted that this should take into account the required coherence with the regional Common External Tariff, CET, which will become operational by January 2015 and the development objectives of the impending agreement.
The Dakar meeting will be led by directors of trade of ECOWAS and the West African Economic and Monetary Union, UEMOA, Commissions, EU officials and representatives of ECOWAS ambassadors in Brussels.
— Feb. 3, 2014 @ 01:00 GMT
Tags: Economic Community of West African States ECOWAS European Union Kadré Desire Ouédraogo
