Southern Africa: Botswana Signs EPAs
Botswana, together with Lesotho, Mozambique and Swaziland, has signed an Interim Economic Partnership Agreement (EPA) with the European Union (EU), the Ministry of Trade and Industry has announced.
A statement from the ministry says the agreement was signed last Friday in Brussels, Belgium after extensive negotiations which began in 2004 between the EU and the SADC EPA configuration.
Under the new trade agreement, Botswana's exports, including beef, will now enjoy permanent duty free, quota free (DFQF) access to the European market. Additionally some textile products will benefit from single transformation for export.
"This improved market access should enable higher returns and better profits to producers and hence higher employment and growth to the Botswana economy," the statement says.
"The Interim Agreement also provides for support from the European Union through development assistance through capacity building in various areas impacting trade."
Botswana's Minister of Trade and Industry, Neo Moroka, was the Chief Coordinator of the SADC EPA Group while his Permanent Secretary, Banny Molosiwa, served as Chief Negotiator.
The Botswana delegation was led by M.K.J. Masisi, who acted as the country's Chief Negotiator. He was supported by senior officials and technical experts from various ministries.
The media statement says the Interim EPA, which will come into effect on January 1,2008, is meant to ensure continuity of trade between both the EU and signatory SADC EPA states.
The current trade regime of the Cotonou Partnership Agreement between the EU and ACP countries expires on December 31, 2007, and the waiver, which extended preferences to ACP countries was WTO incompatible.
"The agreement provides for continuation of the negotiations beyond December 2007, after which a comprehensive EPA will be concluded," the statement says.
Critical areas of future negotiations include Trade in Services and Investment. The agreement now provides an opportunity for local and foreign investors and producers to access the markets of the 27 countries of the European Union.
"The Ministry of Trade and Industry therefore encourages entrepreneurs to take full advantage of the benefits of this agreement," the statement says.
