Ugandan goods just got a whole new playground on the European market after the East African Community and the European Union ended negotiations on the Economic Partnership Agreement (EPA) after more than a decade of talks. Kristian Schmidt, the head of delegation of the Europe Union in Uganda, says EPA is about to enter into force and that, when it does, the conditions to trade and invest will be easier for the countries in the EAC region and those in the EU. “The trade negotiators have done their duty. The European markets are open to East Africa business community,” he said recently. “Exports originating from Uganda and the entire EAC will enter the market of all EU member states without paying customs duties and without limitation in quantities, for an indefinite time.” Schmidt was addressing a press conference organized by the European Business Forum (EBF), which was intended to announce the forthcoming European Business Expo and Food festival to be held in Kampala starting today, May 6. Schmidt added: “So, this leaves the door open for any company operating in Uganda to export freely; no customs duty to an integrated, single market of 28 European countries, with 508 million consumers with considerable purchasing power.” According to Schmidt, Uganda and EAC partner states have committed to partially and gradually reduce, and eliminate, customs duties on selected imports originating from the EU. “That means EAC operators can import from Europe more strategically. They will be allowed to buy duty-free, thereby at a...
EAC and EU Finalise Trade Negotiations
Posted on: May 10, 2016
Posted on: May 10, 2016