Zambia has refused to sign an interim Economic Partnership Agreement (EPA) with the European Union (EU), saying the country will sign at "a later date", local newspaper the Post of Zambia reported on Monday.
According to the report, Zambia's Commerce, Trade and Industry Minister Felix Mutati refused to sign the interim agreement while other countries from the Eastern and Southern Africa (ESA) grouping did so.
The countries that signed the interim EPA are Mauritius, Seychelles, Zimbabwe and Madagascar while Zambia and Comoros refused, saying they will do so at a later date, the newspaper quoted information posted on the EU's website as reporting.
The agreement was signed in Grand Baie, Mauritius, by EU Trade Commissioner Catherine Ashton and Swedish Deputy Trade Minister Gunnar Wieslander on behalf of the EU.
The deal offers ESA countries that signed the agreement an immediate and full access to EU markets (with transition periods for rice and sugar "together with improved rules of origin".
The report further said ESA countries will open their markets gradually over the next 15 years, with a number of important exceptions reflecting their development needs.
As a least developed country, Zambia would still access the European markets on a duty free arrangement under the EU Everything But Arms trade arrangement and "does not need to submit a market access offer to sign the agreement and benefit from its development cooperation and fisheries provisions while negotiations towards the more comprehensive deal continue," according to the report.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article