Uk-Southern African Economic Partnership Agreement
Agreement was also reached on an integrated agenda to address areas of interest in the future that could not be resolved during the negotiations. These include issues related to market access, regional accumulation, export taxes, technical barriers to trade, geographical indications and electronic certifications. THE SACUM countries expressed serious concerns about the final outcome of the EU-UK trade negotiations and the impact on trade relations between SACUM countries and the UNITED Kingdom. An agreement between the EU and the UK will help strengthen the security and continuity of the SACUM-UK agreement with the uk`s withdrawal from EU customs territory. If the EU and the UK fail to agree on an agreement, their trade relations will be governed by World Trade Organisation rules. This means that the UK is treated like any trading nation that does not benefit from preferential trade with the EU. After two years of negotiations, a new agreement, SACUM-UK EPA, was reached in September 2019. This is essentially a transfer of the terms of the CDAA-EU EPA to the new SACUM-UK EPA. These conditions apply: the EU manages seven economic partnership agreements with 32 partners, 14 of which are in Africa. The main objective of EPAs is the leverage of trade and investment for sustainable development.
The content of the agenda will be expanded, with agreements covering new themes such as services and investment. EPAs with sub-Saharan Africa and other EU free trade agreements with North African countries are building blocks of the Continental Free Trade Area (AfCFTA) and the long-term prospect of a free trade agreement between continental countries. The EPAs already contain useful trade instruments for the construction of the AfCFTA. They provide a strong framework for regional trade and investment between THE EPA partners themselves and with the EU. They also strengthen the commercial capacity of EU partners. You should check with the relevant customs authorities about your trade between the UK and SACUM. In particular, the rules of origin agreed under the agreement between the United Kingdom and SACUM will be reviewed no later than 30 months after the agreement enters into force. The EU`s trade relations with ACP countries are governed by the Cotonou Partnership Agreement signed in 2000 between the EU, its member states and the ACP countries. As this political, economic and global development partnership expires in 2020, the parties are currently negotiating a successor agreement (the “post-Cotonou”). The overall goal of EPAs is to contribute, through trade, to sustainable economic growth and poverty reduction in ACP countries. Removing trade barriers contributes to the creation of millions of jobs and economic growth and offers the world`s poorest the opportunity to move beyond aid dependency to become our trading partners of the future.
Economic Partnership Agreements (EPAs) are trade and development agreements negotiated between the EU and countries and regions in Africa, the Caribbean and the Pacific (ACP). The trade continuity agreements signed concern countries representing $89 billion of UK trade. If the SACU-M agreement is signed and enters into force, it will reach up to $99 billion. Under the EU-SADC agreement, only one safeguard is applied.