South Africa meeting to examine impact of new trading regime on ACP countries

Top trade policy experts from African, Caribbean and Pacific countries are to meet in Cape Town, South Africa, to assess the implications of the new European Union trading regime – Economic Partnership Agreements (EPAs) – on their member countries.

The meeting, to be held on 7-8 April 2008, is organised jointly by the Commonwealth Secretariat and the African, Caribbean and Pacific Group of States (ACP) Secretariat.

The meeting is premised on the fact that as of 1 January 2008, exports from ACP member countries – which include the majority of Commonwealth countries – to the EU are governed by EPAs. This new trade regime requires ACP countries to reciprocate by allowing EU imports into their markets on an equal basis. The new agreement replaced the one-way preferential trade arrangements of the Cotonou Agreement which expired in December last year.

“These changes to the trading system have profound implications for growth, development and prosperity of ACP countries – creating new opportunities as well as challenges,” said Commonwealth Deputy Secretary-General Ransford Smith.

“A clear and full understanding of these arrangements is very important, and that is why this meeting to undertake a comprehensive technical evaluation is being organised.”

Participants from various ACP regions will evaluate implications of the new arrangements and identify policy options, as well as implementation issues that may arise in the future.

Edwin Laurent, Adviser and Head of International Trade Section in the Commonwealth Secretariat’s Economic Affairs Division, points out that the new trading regime needs to have a strong development focus, with components of trade, investment and aid built into the process.

“ACP countries need to make sure that they are able to negotiate well to achieve these outcomes,” Mr Laurent said.

A key part of the work of the Commonwealth Secretariat is assisting developing countries improve their understanding of international trade rules and regulations, and helping them strengthen their effectiveness and participation in trade negotiations. This is achieved by providing policy advice on international trade developments, the WTO, ACP/EU relations and regional economic integration.

Secretariat Links:

• Country Profile: South Africa
• Economics and Trade