… Offering duty free, quota free market access into the EU
BY PHUMELELE MKHONTA
MBABANE– The economic activities of the country will be made easier through the Southern African Community (SADC) – European Union (EU) economic partnership agreement (EPA).
This is because Eswatini is among the six countries, including Namibia, who are part of the above mentioned initiative, whose implementation plan was launched in Namibia.
According to All Africa, the Namibian Minister of Industrialisation and Trade, Lucia Lipumbu, launched an economic partnership agreement (EPA) implementation plan at the Southern African Development Community (SADC)-European Union EPA Trade Forum at the Windhoek Country Club Resort on Monday.
The event was co-hosted by the European Union (EU) delegation in Namibia under the theme ‘Towards Increased and Diversified Trade under the EPA by Ensuring Inclusivity, Sustainability and Economic Growth’.
The EPA provides duty-free, quota free market access into the European Union for exports from partner states like Namibia, subject to rules of origin and adherence to international and regional quality standards.
Namibia and five other SADC member States, namely Botswana, Eswatini, Lesotho, Mozambique and South Africa signed the EPA and is it was fully implemented after Mozambique submitted its instrument of ratification.
The initiative has just laid out it implementation plan.
“The EPA Implementation Plan for Namibia which we are also launching is geared towards attaining the objectives of the SADC – EU EPA and ensuring that the potential benefits that can accrue from it are fully utilised by the intended beneficiaries, which include exporters, importers, consumers, and the entire business fraternity,” said the minister.
According to Lipumbu, the Namibian EPA Implementation Plan was developed with the support of financial assistance from the EU.
“We are further happy to note that the plan is being implemented with the support of the EU through a Financing Agreement between National Planning Commission and the EU Delegation. The launch of the implementation plan and its implementation was postponed due to the COVID-19 pandemic interruptions,” she said.
According to the statement, the Forum will have several interactive engagements and presentations focusing on opportunities for Namibian and EU traders, agriculture and agro-processing, manufacturing, and trade facilitation and logistics.
Thembinkosi Dube, Economist and Senior Consultant, said he believed this initiative was for the benefit of all the SADC member states.
“The advantage to the member states is their commodities will not be affordable to the EU as a duty raises the price. This will give them a competitive advantage making their commodities affordable in the EU market. This is more likely to increase demand for export products which are more likely have a positive effect on the trade balance. The quota removal also allows further trades with these markets,” said Dube.
