At the end of the fourth EU-Africa summit held in Brussels, it was agreed that Africa and Europe will continue working on outstanding Economic Partnership Agreements (EPAs). This is being done with the aim of fostering intra-African trade, Africa’s regional integration efforts and the planned Continental Free Trade Area (CFTA).
A statement was released at the end of the summit outlining what was agreed upon between the African and European countries. The communique said, “ Both parties should continue negotiations on EPAs by exploiting all the possibilities to reach a satisfactory conclusion of development oriented and World Trade Organisation compatible EPAs that promote African integration, economic transformation and industrialisation, and ensure the prosperity of nations to the benefit of both continents.” “It is important that Africa and Europe develop globally competitive industries that can succeed in today’s global markets and contribute to sustainable development.” “EPAs should be structured to ensure that our trade expands and that it supports growth of intra-regional trade in Africa.”The EU and North African countries are also committed to continue bilateral negotiations for Deep and Comprehensive Free-Trade Areas that will expand market access in areas not yet fully open, the communique said.
“We will explore modalities to exchange information on the implementation of trade agreements and their implications for Africa’s regional integration and industrial development agenda. It is time for a fundamental shift from aid to trade and investment as agents of growth, jobs and poverty.” The EU and Africa also agreed to cooperate more closely in the field of maritime policy, especially blue growth, protection of the marine environment and biodiversity, maritime transport and maritime safety and security. The EU pledged its support to the African Union decision to fast track the establishment of a CFTA in Africa and offered to draw on its experience of building the single market to provide capacity support to this initiative.
