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Wednesday, 23 November 2016

EU-Africa deal comes into effect

The Economic Partnership Agreement between the EU and Southern African states has come into effect, providing for state-to-state dispute resolution, but excluding any investor-state dispute settlement procedures. The European Union’s latest trade agreement promises free trade between Southern Africa and Europe and provides a dispute resolution safety net for nations that fall into disputes between the trading bloc and its members, but leaves unchanged the existing investor-state dispute settlement (ISDS) systems. The Economic Partnership Agreement between the EU and the six states of the Southern African Development Community EPA Group (SADC EPA) came into effect on 10 October, having been signed on 10 June, and is one of a series of such agreements between the EU and countries in Africa, the Caribbean and Pacific. The agreement grants extensive access to the EU trade market to Botswana, Lesotho, Mozambique, Namibia, South Africa and Swaziland, in most sectors, free from duties and quotas, but the EU retains the ability to protect domestic European markets if they are at risk from competition.

Source: africanlawbusiness.com