Mozambique's exports to African countries top $7.1 billion in 5 years - government
Mozambican parliament ratifies new cooperation regime with EU
3:08 CAT | 02 May 2017
The Mozambican parliament, the Assembly of the Republic, on Friday approved, in general terms and by consensus, a draft resolution ratifying the new cooperation regime between the SADC/Economic Partnership Agreement group and the European Union.
The implementation of the agreement will result in a tax loss for Mozambique as a result of reducing import taxes, but the EU will provide even greater financial support, according to the Ministry of Economy and Finance quoted by the Mozambican Information Agency (AIM).
The tax loss is estimated at 530 million meticais (about EUR 7.5 million) in the years 2018 to 2020.
The government says that the EU has already provided EUR 2.6 million in technical assistance to SADC and the six-country Economic Partnership Agreement (EPA), with Mozambique expected to receive, by 2020, a total of EUR 20 million under the 11th European Development Fund (EDF).
Of the total of 15 member countries of the Southern African Development Community (SADC) only six (South Africa, Botswana, Lesotho, Mozambique, Namibia and Swaziland) are parties to the Economic Partnership Agreement (SADC/EPA).
Southern African EPA Development Community
In June 2016, the EU signed an Economic Partnership Agreement (EPA) with SADC members Botswana, Lesotho, Mozambique, Namibia, South Africa and Swaziland. Angola has an option to join the agreement in future.
The other six SADC members – the Democratic Republic of the Congo, Madagascar, Malawi, Mauritius, Zambia and Zimbabwe – are negotiating Economic Partnership Agreements with the EU as part of other regional groups, namely Central Africa or Eastern and Southern Africa.
Source: Lusa / ec.europa.eu
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