Epa Free Trade Agreement

The USMCA has the strongest, most advanced and most comprehensive environmental commitments in a U.S. trade agreement. Unlike NAFTA, THE USMCA`s environmental commitments are incorporated into the trade agreement itself and not into an environmental cooperation agreement, as was the case with NAFTA. USMCA`s environmental commitments are fully applicable and are subject to dispute resolution: in Africa, EPAs support the implementation of the Africa-Europe Alliance for Sustainable Investment and Employment, launched in September 2018. These are key instruments of the EU`s overall strategy with Africa. The economic pillar of this strategy sees trade – in addition to regional and continental economic integration – as an important element in promoting the sustainable development of African countries. The creation of a reciprocal trade agreement puts the EU at the forefront of how to reconcile the ACP Group`s special status with the EU`s WTO commitments. The near-solution solution to this dilemma is an agreement that is reciprocal only in the way necessary to meet wto criteria. In reality, ACP countries will have some leeway and maintain limited protection of their key products. The extent to which trade should be liberalised under the new EPAs remains a highly controversial issue and it remains to be seen whether the WTO provisions governing regional trade agreements will be revised at the end of the Doha Round in favour of the EPA system. However, researchers at the Overseas Development Institute predict that the effects of EPAs are rather minimal. [9] Given that most of the countries in the AFRICA, Caribbean and Pacific (ACP) group already had duty- and duty-free access of approximately EUR 1.4 billion over the Cotonou agreement, which expired in 2007, there were few new offers.

[9] The expected effects of ODI:[9] THE EU`s trade relations with ACP countries are governed by the Cotonou Partnership Agreement signed in 2000 between the EU, its Member States and the ACP countries. As this political, economic and global development partnership expires in 2020, the parties are currently negotiating a successor agreement (the “post-Cotonou”).