Germany backs EU economic partnership agreement with SADC

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Germany backs EU economic partnership agreement with SADC

7:09 CAT | 03 May 2016

Germany has approved the signing of the Economic Partnership Agreement (EPA) of the European Union (EU) with the Southern African Development Community (SADC) member states. EPA will guarantee permanent tax and quota free access to the European market for products from EPA-SADC countries that includes Botswana, Lesotho, Mozambique, Namibia and Swaziland.

South Africa, as the most developed country in the region, will receive extended market access to the European market.

In return, the above mentioned countries are supposed to open their markets for about 80 percent of European products over the course of 12 years.

As already practiced in other EPAs, products that are locally produced or have added value for the local economy, will remain permanently protected.

As an additional protection mechanism, the SADC-EPA countries may defer the liberalization of specific products or increase customs duties, if noticeable damage of the local industry is looming, reads a statement issued by the Germany embassy in Windhoek.

EU will sign the EPA agreement during the session of the Foreign Affairs Council on May 23 in Brussels and by SADC on the June 10, 2016 in Gaborone, Botswana. When the signing process is completed, the EPA will be presented to the German Federal Parliament for approval. Thus, the German Federal Government has done all that is necessary for the agreement to come into force in all SADC member states, the embassy spokesperson Ullrich Kinne said in the statement.

Source: APA