EU President commend ECOWAS Economic Partnership Agreement Approval 

President of the European Commission José Manuel Barroso has commended the 16 ECOWAS heads of state for approving the Economic Partnership Agreement (EPA) with the European Union.

"I am a firm believer in expanding our cooperation with Africa, a thriving continent full of opportunities. A partnership of equals with Africa has been one of my key priorities", said José Manuel Barroso, President of the European Commission. "I am therefore more than pleased to see the Economic Partnership Agreement with West Africa now set to become a reality. This agreement, with a strong development component at its heart, will pave the way for sustainable economic growth in West Africa, generating jobs and well-being for our citizens." José Manuel Barroso said.

EU Trade Commissioner De Gucht added: "We are building a privileged economic partnership with West Africa that will be a foundation of long-term growth and future prosperity in a region that is so close to Europe. To help the EPA deliver its promise for development, the EU and West Africa need to implement this deal as soon as possible."

The agreement fully takes into account the differences in the level of development between the two regions. The EU will provide West African firms with conditions that are more advantageous than those that apply to European exports to Africa. 

In the negotiations, the EU committed itself to open its market to all West African products as soon as the agreement enters into force. 

In exchange, the EU accepted a partial and gradual opening of the West African market. Only if and when West Africa will be ready to grant more far-reaching concessions to the Europe's main competitors, will the EU be able to claim those same improvements.

Under the terms of the agreement, West Africa will continue to be able to shield its sensitive agricultural products from European competition either by keeping tariffs in place or, when necessary, by imposing safeguard measures. To support local agricultural production, the EU has also agreed not to subsidise any of its agricultural exports to West Africa.

West African companies will also have more flexibility to use foreign components while still benefitting from free access to the EU market.

The EU will complement the market opening effort of the West African partners with a generous development assistance package. 

The Economic Partnership Agreement Development Programme (PAPED) will play a crucial role in ensuring the EPA promotes trade and attracts investment to West African countries. This will contribute to development, sustainable growth and reducing poverty.

The Agreement will now be presented to the political decision makers, both in the ECOWAS and the EU, for signature and ratification.

GBC/europa.eu