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Regional EPA
due in June 2009
Masahudu Ankiilu Kunateh, Ghanadot
Accra, March 11, Ghanadot - A Regional Economic Partnership
Agreement (EPA) encompassing the West African region is
expected to be signed later this year as negotiations are
far advanced for a draft agreement in June 2009, and
subsequently a full pact by the end of the year. The
out going Head of the European Union (EU) Delegation to
Ghana, H.E Ambassador Filiberto Ceriani Sebregondi has
hinted.
Ghana, in 2007, signed an interim Economic Partnership
Agreement (EPA) - light with the European Commission (EU)
making her second after Cote d'lvoire to sign the deal.
The move was to insulate the two countries from a disruption
of their exports after preferential trade terms expired at
the end of that year.
The decision by the Ghana government to sign the EPA,
however, was met with a lot of backlash from civil society
groups who argued that the trade agreements would only allow
the European Commission to lock Ghana and other African
countries into aspects of the EPAs, over which there were
still fundamental disagreements, including issues which had
never been part of the negotiations.
The groups stipulated that the deal would also bounce our
countries into opening the African markets to European goods
even before they had concluded proper assessment of what
revenue needs and fledgling domestic industries could
endure.
The Ministerial Monitoring Committee on the negotiations of
the Economic Partnership Agreement between West Africa and
the EU at a meeting in October 2008, in Banjul, Republic of
the Gambia, however, called on the negotiators to expedite
action on reaching an agreement which would preserve the
region’s interest whiles respecting the June 2009 deadline.
The Ambassador, who is expected to end his duty tour to
Ghana in June, this year, also reflected on some activities
of the European Union in the country, during his tenure of
office.
The Ambassador stated that although Ghana’s economy would
face the most difficult times until the oil revenues start
trickling in, the EU will continue to deliver on its
promises to back Ghana’s economy through the hard times
ahead.
As a commitment to its promises, The EU Last week provided
an additional 6.2 million euro facility for the government
to help address the effects of the escalating international
food prices.
The support formed part of the addendum to the 10th European
Development Fund (EDF) Country Strategy Paper and National
Indicative Paper (CSP/NIP) for 2008-2013, bringing to 373
million euros the total budgetary assistance to Ghana under
the EDF.
Under the programme, 76 million Euros will be budgeted for
in the area of transport connectivity and regional
integration, 95 million euros for governance and
decentralisation, while 175 million euros will be allocated
for general budget support.
HE Ambassador Filiberto Ceriani Sebregondi intimated that
the EU was committed to raising its level of assistance to
developing countries to at least 0.7% of their GDP and also
making those aids more effective through the well known list
of best practices, lastly committed in the Accra Agenda for
Action, adopted at the last Aid Effectiveness Forum in
Accra, last year.
He however, called for greater transparency, public
accountability and a consultative approach with all stake
holders in the oil industry to maximise the oil gains.
He recommended that government cuts its expenditure and
increase its revenue generation to cushion it against the
economic challenges ahead.
Ghanadot
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