-
Dr Mohamed Ibn Chambas, the President of the Economic Community of West African States (ECOWAS) Commission has urged the European Union to be mindful of the development dimension and show “understanding and demonstrate greater flexibility” in its approach to the ongoing process for the negotiation of an Economic Partnership Agreement (EPA).
The agreement seeks to create a free trade between regional economic groupings in Africa and Europe.
Dr Chambas, who exchanges views with the United Kingdom Minister for Development, Baroness Shriti Verdana, said an intensive intra-regional consultation process was underway to culminate the adoption of a regional position on the feasibility of the 31st December 2007 deadline for the signing of the agreement.
Though the region has concluded the major tasks indicated in the first phase of the preparatory process, the ECOWAS chief said there were still outstanding challenges that needed to be resolved prior to the signing of the EPA
He cited the strengthening of regional integration process, creation of a region-wide Common External Tariff, harmonisation of tax and investment policies as key challenges confronting the region.
Besides, the economic grouping is worried about market access, treatment of sensitive products, liberalization of services and the absence of support measures through the establishment of an EPA regional funding mechanism.
The fund will serve as a compensatory mechanism for revenue losses for member states, most of which rely on import duty as a major source of government revenue. It will also help the region to address identified constraints, including the upgrading of its infrastructure to enhance the competitiveness of regional industries so that they can benefit from the agreement.
Baroness Verdana expressed United Kingdom’s appreciation of the challenges faced by the region and hoped that they would be resolved quickly for a mutually beneficial agreement.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.