Relief as Tanzania agrees to approve EU trade deal

Economy

Relief as Tanzania agrees to approve EU trade deal


President Samia Suluhu Hassan receives President Uhuru Kenyatta at Tanzania’s 60th Independence anniversary celebrations in Dar es Salaam on December 9, 2021. PHOTO | COURTESY

geraldandae

Summary

  • The East African Community could finally sign the new Economic Partnership Agreement (EPA) with the European Union this month as a bloc after Tanzania changed its initial stance.
  • Mr Borrel in an interview with The East African said President Uhuru Kenyatta has indicated that Tanzania is ready to sign the deal following the change of leadership.

The East African Community could finally sign the new Economic Partnership Agreement (EPA) with the European Union this month as a bloc after Tanzania changed its initial stance.

Josep Borrel, the EU Foreign Representative for Foreign Affairs and Security, says Tanzania has agreed to join the rest of the EAC countries in ratifying the deal that will see the region enjoy quota-free and duty-free access to the lucrative European market.

Mr Borrel in an interview with The East African said President Uhuru Kenyatta has indicated that Tanzania is ready to sign the deal following the change of leadership.

“President Uhuru Kenyatta told me that, finally, it seems that we could have an agreement for the whole region because the new government in Tanzania is accepting to sign the agreement,” said Mr Borrel.

Tanzania had refused to sign the EPAs deal in 2015 under the reign of former President the late John Magufuli.

Previously, it has been a prerequisite that the EPA agreement is endorsed by all EAC member states for it to become effective.

Nairobi and Kigali were the only two countries in the region to sign an EPA deal with Europe in 2016 under a special arrangement under a temporary pact with the EU to allow its goods to access the expansive market duty-free.

Normally, horticultural produce from Kenya,…

Read more at www.businessdailyafrica.com

Leave a Reply

Your email address will not be published.


*