The Economic Partnership Agreements are a system for creating a free trade area between the European Union and the Group of African, Caribbean and Pacific States (ACP). This is a response to persistent criticism that the EU`s proposed non-reciprocal and discriminatory preferential trade agreements are incompatible with WTO rules. The EPAs date back to the signing of the Cotonou Agreement. EPAs with different regions are in different playing conditions. In 2016, the EPAs were to be signed with three regional economic communities in Africa (East African Community, Economic Community of West African States and Southern African Development Community), but these faced challenges.  [must be updated] Negotiations on economic partnership agreements can take years to conclude. The agreements address a detailed set of issues that all need to be balanced in order to bring benefits to all parties. An agreement may be less difficult to reach between nations with a strong history of trade and cooperation, as was the case with the economic partnership agreements signed in 2007 by the European Union and the Asia-Caribbean and Pacific group. The agreements provide a framework for cooperation, not competition between geographically distant economies. An agreement between a stronger economy and a weaker economy should stimulate the economic development of the weaker nation, while bringing real benefits to the strongest.
They aim to maintain peace between nations in different parts of the world and to improve the standard of living of families in less developed countries. As part of this series, the publication of Investment Policy Letter No. 1 entitled By Mr. Abdulkadir Jailani briefly describes Indonesia`s experience in at least six investor-state dispute settlement (ISDR) cases. It also explains Indonesia`s decision to break its international investment (AI) agreements; To date, 17 out of 64 ias have been recruited by Indonesia. The document explains the reasons for this important policy action. (more…) In order to ensure compliance with the development dimension of EPAs, it is of the utmost importance to closely monitor the negotiation and implementation of the new partnership agreements. Opponents of economic partnership agreements argue that agreements can benefit more developed countries than their less developed partners.
Stronger economies may be more likely to exploit their weaker partners, leading to unequal benefits. In the view odi.org, economic partnership agreements must provide for reciprocity in order to be taken into account under World Trade Organization rules. This means that any action taken in favour of a given economy must be replicated by that economy, which in theory brings equal benefits for each country. Proponents of economic partnership agreements argue that the agreement will benefit all parties in the same way in the long run. By removing barriers to trade and people, each economy in the agreement can take advantage of the other benefits of the market. In addition to economic ties, economic partnerships can strengthen political relations and provide strong allies in times of political upheaval or military action. In Africa, EPAs support the implementation of the Africa-Europe Alliance for Sustainable Investment and Jobs, 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 European Union`s (EU) Economic Partnership Agreements (EPAs) with regional blocs of African countries (and some African countries) aim to promote more than simply boosting trade between the EU and African countries. They aim to promote sustainable development and poverty reduction, including supporting regional integration processes in Africa, encouraging the gradual integration of African economies into global markets and improving capacity