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Dec
07

Epa Agreement Namibia

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On 10 June 2016, the EU signed an Economic Partnership Agreement (EPA) with the CDAA-EPA Group of Botswana, Lesotho, Mozambique, Namibia, South Africa and Eswatini (formerly Swaziland). Angola has the opportunity to join the agreement in the future. “The agreement will also improve market access and help reduce poverty through trade, maintain employment and strengthen trade and investment relations between Namibia and the UK,” Iipumbu said in a statement. It added that Namibia would continue to export its four main products, beef, dates, grapes and charcoal, to the UK market. Namibia`s total exports to the UK were about $6.1 billion in 2019, and Ilpumbu stressed that Namibian exporters, as the main beneficiaries, will be confident that the market will remain safe in the UK. The Ministry of Industrialisation and Trade confirmed that Namibia ratified the Sacu-Mozambique and United Kingdom Economic Partnership Agreement (SACUM – UK EPA) at the National Assembly on 20 October 2020. Ratification was necessary for the agreement to enter into force and bind the parties to the legislation. According to Namibia`s Minister of Trade and Industry, in an interview with Bloomberg News in February 2014, the Namibian government does not feel able to “extend a trade agreement with the European Union until an existing agreement expires in October, due to the inflexibility of the 28-nation bloc on food and agricultural imports.” Schlettwein said the provisions of the draft agreement undermined the Namibian government`s “political leeway in industrializing and pursuing free trade agreements.” In 2017, the UK has announced its intention to leave the EU. The UK`s withdrawal from the EU means it will no longer be part of the EU, but will have to develop its own trade agenda, including the conclusion of trade agreements with its trading partners. According to Industrialization and Trade Minister Lucia Iipumbu, the recently ratified agreement aims to ensure the continuity of preferential trade between Namibia, Botswana, Eswatini, Lesotho, Mozambique and South Africa with the United Kingdom.

The agreement will enter into force at the end of the transitional period on 31 December 2020, and EU trade agreements will no longer apply to the UK.

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