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Monday, 24 October 2011

Zimbabwe: government to ratify EPA

The Zimbabwean government has taken steps to ratify at least five bilateral and multilateral economic and trade partnership agreements before the end of the year to aid faster economic growth and development after a long stagnation.

The move comes as the economy enters its fourth year of consecutive growth, following a decade of instability that resulted in the gross domestic product shrinking by half, the advent of hyperinflation and the collapse of critical sectors.

According to a copy of the votes and proceedings of the House of Assembly of the Parliament of Zimbabwe, the trade agreements include bilateral investment promotion and protection agreements with India and the State of Kuwait.

The trade pacts encompass economic partnership agreements between the European Union and African, Caribbean and the Pacific Group of States, as well as the international coffee agreement and the Cotonou agreement. It is expected that the five trade agreements would be ratified during the current session of the fourth session of the seventh Parliament of Zimbabwe.

Source: AllAfrica/The Herald

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