By Dorothy Nakaweesi
In Summary
- Uganda's Trade minister Amelia Kyambadde said the government has since made up its mind and was ready to sign the deal irrespective of whether all the other regional countries are on board or not.
- On Thursday, Kenya and Rwanda Trade ministers signed the EPA pact in Brussels, Belgium, with the European Union, a deal the East African Community Council of Ministers had recommended earlier this year.
- If the EPA is not signed and ratified by all EAC partner states by September 30, 2016, Kenya – being the bloc’s only developing state - stands to lose its market to the EU, having significant impact on her economy.
Uganda has reversed its decision to delay the signing of the Economic Partnership Agreement (EPA) with the European Union.
Trade minister Amelia Kyambadde said the government has
since made up its mind and was ready to sign the deal irrespective of
whether all the other regional countries are on board or not.
On Thursday, Kenya and Rwanda Trade ministers
signed the EPA pact in Brussels, Belgium, with the European Union, a
deal the East African Community Council of Ministers had recommended
earlier this year.
Kenya was desperate to have the agreement signed to
safeguard unlimited duty free access of its exports to Europe after
Tanzania and Uganda said the deal initialled in October 2014 needed to
be renegotiated following Britain’s exit from the bloc.
Speaking at the sidelines of the 7th Ministry of
Trade, Industry and Cooperatives sector review annual conference in
Kampala on Tuesday, Ms Kyambadde said “The EU is our major trading bloc
and we are going ahead to sign the EPAs.”
Burundi has also shown strong desire to sign the
agreement in its current form, leaving Tanzania in its effort to seek
further reassurance regarding the matter.
Tanzania’s refusal to sign the EPAs is due to fear
of repercussions the deal would have on the growth of the emerging
regional industries.
Without guarantees against the side effects, Tanzania says it is not prepared to commit itself into economic enslavement.
EPAs are trade and development agreements
negotiated between the EU, African, Caribbean and Pacific (ACP) partners
engaged in regional economic integration processes.
The EU is Uganda’s second leading exports markets destination.
Speaking at the conference, the assistant
commissioner, External Trade, Mr Emmanuel Mutahunga, said: “We can’t
afford to lose the EU market because it’s contributing a lot to our
economy.”
He said Uganda coffee exports to the EU are worth $252 million while flowers exports to the region bring in $45 million.
Mr Mutahunga said a conclusive decision on the deal
is expected to be discussed at the ongoing negotiations by the regional
council of ministers who will make final recommendations to the heads
of states next week in Arusha, Tanzania. The EAC states are expected to
sign the deal before this month ends.
If the EPA is not signed and
ratified by all EAC partner states by September 30, 2016, Kenya – being
the bloc’s only developing state - stands to lose its market to the EU,
having significant impact on her economy.
The rest of the members have alternative access to EU as they are all classified as least developed countries.
The Private Sector Foundation Uganda executive
director, Mr Gideon Badagawa, said Uganda’s decision to sign the EPAs
has been long overdue.
“EPAs will build our capacities as far as infrastructures are concerned which is an important gain,” Mr Badagawa said.
Additional reporting from The EastAfricanteam.
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