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Wednesday, 03 August 2016

Brexit Implications for 79 ACP Countries Yet Unknown

The outcome of the Brexit referendum on June 23, 2016 has set the UK on a path to leave the European Union (EU) that will also result in an end to its membership of the bloc’s Economic Partnership Agreements (EPAs) the free trade deals between the European Union (EU) and the 79 countries of the African, Caribbean and Pacific (ACP) group. According to experts, while Brexit will have consequences for the UK, its impact on the ACP countries could be far reaching. Precisely how and in what ways was the subject of a brainstorming session of leading experts organized by the Ramphal Institute on July 15. Named after Shridath "Sonny" Ramphal, second Commonwealth Secretary-General (1975-1990), the Ramphal Institute’s mandate is to tackle development issues and the wider world. So the focus was on Brexit and the Economic Partnership Agreements (EPAs). The EPA deal had been Europe’s first step, under World Trade Organisation (WTO) guidelines, to wean ACP countries off their special trade relationships with the EU towards freed-up trade deals.

Source: indepthnews.net