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Wednesday, 19 September 2012

EPA may prevent ‘real industrialisation’ in EAC

Benjamin Mkapa, Chair at The South Centre, has once more warned the East African Community (EAC) that signing an Economic Partnership Agreement (EPA) could lead to countries therein being denied the chance to develop into industrialized nations in their own right. "If we sign the EPA and other sub-regions do so too, we would be giving up the better option we had before us, which allows for real industrialization", he said in a keynote address.
In seeming agreement  with  Professor Chukwuma Soludo, former governor of the Central Bank of Nigeria,  who has stated that EPAs would have detrimental outcomes for Africa, Mr. Mkapa recalls that Least Developed and Developing Countries must always ask whether trade agreements are to help increase domestic production, encourage diversification and industrialization, increase food security, provide quality employment and support the region's move from largely raw natural resource exporters, towards producers of more sophisticated products.

 

Source: Observer/CTA