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Wednesday, 25 September 2013

Namibia's fate on EPA To be decided soon

Trade agreement negotiations between the European Union (EU) and Nambia and other African, Caribbean, and Pacific (ACP) countries are to resume at the end of September 2013, AllAfrica informs. The Namibian Minister of Trade and Industry, Calle Schlettwein, is hopeful that whatever the outcome of the Economic Partnership Agreements (EPAs) is, the deal will benefit all players.
ACP states have been given generous access to European markets for roughly 30 years and Namibia itself is not subject to any tariffs or quotas on goods entering the EU common market.  "Hopefully during the negotiations, we will be in a position to resolve those issues that remain sticky points in the process. Our goal, of course, is to remain with Europe in a trade partnership agreement," said Minister of Trade Schlettwein.
One sticky point for Namibia in the trade negotiations is the Most Favoured Nations (MFN) clause stipulating that all trade agreements concluded with parties holding above 1.5 per cent of the global trade would automatically entitle the EU the same preferences.

Source: AllAfrica

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