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Friday, 27 September 2013

Pacific urges EU to conclude EPAs this year

Pacific Islands Countries that are negotiating an economic partnership agreement (EPAs) with the European Union have asked the EU to conclude negotiations by the end of 2013 or they will withdraw from the entire negotiations all together. They conveyed this to  the European Union Commissioner for Trade, Karel de Gucht, in a letter dated 4th June 2013.
Ministers of Pacific Countries are also disturbed by the European Commission’s(EC) demands to include specific commitments on access to Pacific fisheries resources in a trade agreement: they believe it is not possible nor realistic.
Pacific Islands believe that if crafted properly, a comprehensive EPAs has the potential to create the right conditions for trade and development but they will not accept any proposal on the fisheries chapter without seeing the EC’s proposal on global sourcing, warned the ministers.
Global sourcing is the practice of sourcing from the global market for goods and services across geopolitical boundaries to exploit global efficiencies (e.g. low cost skilled labor, low cost raw material and low trade tariffs) in the production of a product or service.

Source:  Islands Business

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