Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

All eyes on EU trade talks

Apr 28 2010 16:21 Jana Marais

Related Articles

Sarb warns on carry trade

Strong improvement in trade

SA aims to double UK trade

Rand: Govt looks at carry trade

Trade account back in deficit

Trade surplus to boost SA

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print
Johannesburg - Negotiations on an economic partnership agreement (EPA) between the European Union (EU) and various southern African countries resume in Brussels this week - but compromises are unlikely, players say.

The discussions will be observed with particular interest to see what approach Karel de Gucht, the EU's new trade commissioner, will adopt.

He recently took over the position from Catherine Ashton who, thanks to a more conciliatory strategy, was able to make greater progress with the EPAs than her predecessor, Peter Mandelson.

Mandelson had been labelled as "prescriptive", "arrogant" and "inflexible", having caused considerable damage to relations between the EU and its former colonies.

No easy task awaits De Gucht. The EPA agreements between the EU and its former colonies in Africa, the Caribbean and Pacific Group of States (the ACP countries) should have been in place by December 2007, when the Cotonou Agreement lapsed. Cotonou offered the country very favourable market access to the EU, without which those countries economies would have been put under tremendous pressure.

In terms of Cotonou any replacement agreement should ensure that the ACP countries are not worse off than before - a stipulation simply ignored by Mandelson, says a trade policy expert. The ACP countries are "highly dependent" on preferential access to the EU, which means that the EPAs are regarded as the price of continued exporting to the EU. But at what cost?

The EU is accused of leaving the ACP countries with precious little room for negotiation and of hampering regional integration in Africa because different rules obtain for different countries. The scope of ACP countries' policies is also reduced by EU restrictions on, for instance, export duties and the protection of new industries.

In addition the EU insists that signatories also offer it any favourable trading conditions extended to other large trading countries, such as China, India and Brazil.

South Africa, which does not receive the same market access to the EU as other southern Africa Customs union member countries, seriously opposes this because it restricts its ability to negotiate with other players.

A senior EU official says negotiations with African countries are complex because of the variety of regional bodies, such as the Southern African Development Community, the East African Community and the Common Market of Eastern and Southern Africa - and countries that are members of more than one of these bodies.

Moreover, various strategies obtain for developing these regions to economic communities and eventually to a uniform African community similar to the EU.

Much of the criticism levelled at the EU is therefore that it negotiates different EPAs with different regions, impeding the planned process of integration.

It is very, very difficult to understand the future plans of the various regions, said the official.

- Sake24.com

For business news in Afrikaans, go to Sake24.com.

 
 
Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

Money Clinic Do you have a question about your finances? We'll get an expert opinion.
Click here...

Loading...