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Tuesday, 19 June 2012

EU and ESA countries to boost trade

According to the Zimbabwe Broadcasting Corporation, the implementation of a trade and development agreement between the EU and Eastern and Southern African countries  is expected to increase trade between the two blocs. The EU and four Eastern and Southern African States comprising of Mauritius, Madagascar, Seychelles and Zimbabwe signed an interim partnership agreement in 2009 that provides duty and quota-free access to each other’s markets.
An international trade expert, Mr James Jowa said the agreement is a review of a previous one that was based on preferential trade for goods from African, Caribbean and Pacific (ACP) producers, as both parties now have to reciprocate the duty-free quota.
“Whatever tariffs ACP countries levy on EU countries, EU states should do the same. Whatever limitation or removals that are given to ACP members by the EU, the ACP countries should do the same. So the situation that we are facing is whereby Zimbabwe as part of the ACP group is relaxing tariffs on products coming from the EU. The challenge now is that we need to be competitive,” said Mr Jowa

Source: Zimbabwe Broadcasting Corporation