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Interim trade Agreement between EU and Zimbabwe

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Monday, 11 November 2013

Interim trade Agreement between EU and Zimbabwe

Trade between Zimbabwe and the European Union (EU) doubled since the transition to multi-currencies in 2009, reaching a total of US$800 million as at end of 2012, with the terms of trade being US$200 million in Zimbabwe’s favour, The Zimbabwe Independent reports.
Harare ratified the interim Economic Partnership Agreement (EPA) between the EU and Eastern and Southern African countries, giving the country huge opportunities to export products  to Europe, duty free and quota free. It means that Zimbabwe can export as many products as it can, provided they meet the EU quality standards.
Although the trade agreement, which President Robert Mugabe signed on 13th March 2012, also offers the EU access to the Zimbabwean market, it prevents Europe from bringing in products which threaten the viability of local industries and the livelihoods of the majority of the people.
In addition, the agreement has safeguard clauses allowing Zimbabwe to protect infant industries, ensure food security and rural development or any other production in the event of market disturbances by imports.

Source: Zimbabwe Independent