Context
When the Lomé Convention expired, the African, Caribbean and Pacific (ACP) states held negotiations with the European Union (EU) on new partnerships that would secure the continuation of preferential market access. The resulting economic partnership agreements (EPAs) usher in a new era of trade agreements that go beyond purely economic goals: their purpose is to support sustainable development and poverty alleviation, promote regional integration in the partner regions, and link trade policy with tools for development.
In 2008, the EU signed an economic partnership agreement with CARIFORUM (Caribbean Community countries and the Dominican Republic). Six South African Development Community (SADC) states – South Africa, Botswana, Lesotho, Mozambique, Namibia and Eswatini – also concluded an agreement with the EU in 2016.
Governments, businesses, and civil society must have the skills, resources and capabilities needed to appropriately interpret and implement the provisions of an EPA – and thus boost trade flows. Implementation must be supported by appropriate development policy in order to exploit the opportunities that free trade holds for sustainable development and poverty alleviation, and to reduce risks.
Objective
Regional organisations, member states, businesses and civil society implement economic partnership agreements with the European Union in the interest of sustainable development.