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The European Partnership Agreement and its Opening Opportunities

The EPA is a scheme which is implemented to create a free trade area (FTA) between the European Union and the African, Caribbean and Pacific Group of states (ACP). This agreement is aimed at promoting trade between the two groupings through trade development, sustainable growth and poverty reduction. They are set out to help the ACP countries merge into the world economy and have a piece of the opportunities offered by Globalization.

Industries in Fiji are also involved in the EPA. Properly managed trade can help Fiji’s development by creating employment, reducing average prices, generating income and giving access to a wider range of good- quality products. Fiji and Papua New Guinea signed the interim EPAs with the European Union in 2009. Any company that signs this deal will receive duty free entrance (Bilateral) by EPA participatory countries.

The benefits that the EPA brings to Farmers and Manufacturers are as follows:

1. Access to larger free market including EFTA countries

2. No Quotas, No Duties on exports to the European Union

3. No undue competition

4. No shocks- EPAs will implement in a way that avoids unnecessary shocks.

5. Coverage of services and foreign investment

6. Building regional markets to boost trade between ACP neighbors and regions

7. Wider reforms to strengthen the law and attract local foreign investment.

The EPA is a great opportunity for Fiji manufacturers to access new markets competitively. We encourage all TCF members to look into how you can individually and collectively open up new doors.


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Posted on: December 15 at 11:33 pm
 

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