PUBLISHED ON October 21st, 2014

Brussels strikes trade deal with East Africa

A new comprehensive economic partnership agreement between the EU and the East African Community (EAC) should provide legal certainty for businesses, and open a long-term perspective for free access to the EU market for Burundi, Kenya, Rwanda, Tanzania and Uganda, said the European trade commission.

“The East African Community region stands out for its dynamism, and ambition to develop as an integrated region. The comprehensive partnership agreement we have just reached is the best way in which we can support EAC’s aspirations”, said EU commissioner for trade Karel De Gucht in a statement.

“We have concluded two other development-oriented partnerships with African regions this year. It’s a source of my personal satisfaction also to see East Africa benefiting from the opportunities that Europe wants to offer. I hope that these EPAs will be signed and implemented soon.”

The agreement lays “new and stable” grounds for EU-EAC trade relations, said the commission. “East African Community countries will now be able to focus on improving their economic performance without worrying about the potential loss of full duty-free quota-free access to the European market due to their improving status,” it said.

All EAC members will benefit from the same “predictable and uniform” trade scheme, it added.

Source:: Under current news

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