EAC, EU in talks for economic partnership
The East African Community (EAC) is engaging the European Union to sign and implement the Economic Partnership Agreements (EPA).
A statement shared by the community on its website defined the EPAs as “trade and development agreements negotiated between the EU and African, the Caribbean, and the Pacific Partner States” for them to engage in regional economic integration processes.
The Secretary-General of the East African Community said during the EU-AU summit in Brussels, Belgium, that the EAC Heads of States meeting at the 21st extraordinary summit in February 2021 resolved that the agreement could only be signed and implemented by selected partner states.
“The summit recognised the importance of some partner states to moving forward and concluded that the partner states who wish to do so should be able to commence engagements with the EU to start the EU-EAC-EPA implementation under the principle of variable geometry,” Dr Peter Mathuki noted.
Dr Mathuki stated that the EU-EAC EPA entails trade in goods, fisheries, agriculture, institutional provisions, dispute settlement, as well as economic and development cooperation.
There is a clause said to be in the agreement that encourages future negotiations on trade in services and trade-related competition policy, investment and private sector development, intellectual property rights, trade, sustainable development, and transparency in public procurement.
EPA is expected to address the production, supply, and trading capacity of the EAC partner states when negotiated and implemented, which would aid the EAC regional integration and development.
Regional trade
In his New Year message last month, the Secretary-General of the East African Community, Peter Mathuki, stated that one of the strategic plans of the regional bloc in 2022 was to bolster regional integration.
Dr Mathuki said they intended to focus on Intra-EAC trade, enabling regional mobility of people, goods, and services, market expansion, and promotion of peace and security.
“A new year offers us a new chapter to hit the reset button, craft a new course for our prosperity, and build back better. Despite a challenging and tumultuous 2021, we remained resilient and committed in our quest to widen and deepen economic, political, social, and cultural integration t improve the quality of life of the people of East Africa, “he said.
“Our core focus in 2022 will be to continue deepening regional integration to ensure enhanced intra-EAC trade, ease regional movement of persons, services, and goods, widen markets and promote peace and security for a strengthened bloc.”
Dr Mathuki appealed to the partner states to observe safety measures to lessen the effects of the Omicron variant in order for the economic recovery to take shape.
“With the recent surge in COVID-19 cases occasioned by the new Omicron variant, I urge you all to remain vigilant and protect yourselves and those around you. Together, we shall defeat the virus, “he said.
“The EAC deeply appreciates all our partners and stakeholders for their dedication to the regional integration agenda and looks forward to your continued cooperation and synergy as we welcome the New Year. It is my hope and prayer that 2022 will be a more bountiful year, especially with the anticipated entry of the Democratic Republic of Congo into the EAC family.”
