Though not highly publicised, the EPA has faced continued opposition from across the ACP countries, not least because of its devastating effect on small scale farmers. A new report from GRAIN goes into the details in Africa.
The Ugandan Cabinet has approved the ratification of the EAC-COMESA-SADC Tripartite Free Area Agreement (FTA), paving way for the implementation of the Agreement.
The Tripartite Free Trade Area will comprise 28 countries, cover approximately 18.3 million square kilometers and hold about 61 percent of the continent’s population.
The agreement brings together three regional economic communities – COMESA, EAC and SADC – into a single free trade area covering 57% of Africa’s population with a combined GDP of US$1.3 trillion as of 2015
Nineteen countries have now signed the agreement. For benefits to actually be realized, it must be ratified by at least 14 of the 26 member countries. Only Egypt has ratified it.
Ministers from 26 African countries are meeting in Kampala in another attempt to see through overdue negotiations on the Tripartite Free Trade Area (TFTA).
A paltry eight African have so far ratified the Tripartite Free Trade Area (TFTA) more than two years after it was launched in Egypt, raising fears of a failed continental effort to create an expanded trade barrier free market.
Leaders of the East African Community (EAC) agreed not to force member states to sign the EAC-European Union Economic Partnership Agreement (EPA).
Plans to establish a single market for the 26 African countries in the Eastern and Southern African region – known as the tripartite free trade area (TFTA) – could be overly ambitious.
The European Union has invited the government of Tanzania for dialogue over the Economic Partnership Agreement impasse that has threatened to derail the trade pact between the bloc and the East African Community member countries.
The EU has been pressuring the ACP countries (Africa, Caribbean and Pacific) to sign and implement EPAs that would be destructive for these countries.
The report says that if the EPA is signed, local industries will struggle to withstand competitive pressures from EU firms, while the region will be stuck in its position as a low value-added commodity exporter.
Africans are insisting on actual economic development which is leaving European trade negotiators exasperated. Rick Rowden explains why their stand is historic and right.
Tanzania is reluctant to sign and ratify the EPA raising a number of issues including the implications of the EPA on EAC’s development in general and industrialisation in particular.
The East African Community is once again facing a delicate diplomatic situation as it seems now more than ever that, after protracted negotiations, member states may have to just agree to disagree on the Economic Partnership Agreement.
Tanzanian President John Magufuli described the Economic Partnership Agreement as a "form of colonialism", dampening the country’s possibility of signing the deal with the European Union.
Tanzania wants a study conducted on the impact of the Economic Partnership Agreement with the European Union on the East African Community.
As it stands now, the Economic Partnership Agreement with the East African Community seems to have hit a dead end.
In the Brexit context it is useful to actualize the losses of duties that the EAC will face on its imports from the EU28 minus UK (EU28-UK) if the EAC-EU Economic Partnership Agreement were signed and implemented.
The European Union could cut development aid to East African countries that have refused to enter its trade agreement.