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Wednesday, 18 October 2017

EU – Madagascar: update on the EPA

At the Carlton, Madagascar is currently hosting the sixth meeting of the Economic Partnership Agreement (EPA) committee, bringing together all five signatory countries from the Eastern Africa, Southern Africa, and Indian Ocean (EASAIO) region. During the two days of the sixth meeting of the EPA committee, the positive impacts of the Economic Partnership Agreement with the European Union will be discussed, as will barriers to trade development. The entry into force of the EPA since 2012 has allowed a significant increase in trade between Madagascar and the countries of the European Union. According to Nourdine Chabani, Minister of Trade and Consumer Affairs, ‘We have seen a 70% increase in the value of exports from Madagascar to the European Union between 2012 and 2016. In 2012, the value of Malagasy exports to the countries of the European Union stood at 499 million euros, while last year it had risen to 870 million euros.’ He added: ‘Textiles and clothing, which represent a third of Madagascar’s exports to the European Union, have increased by 31% since 2012.’