The Economic Partnership Agreements Essay

1012 Words Nov 15th, 2016 5 Pages
The Myth of The Economic Partnership Agreements
As the contracts between the European Unions (EU) and African nations (AU), the Economic Partnership Agreements (EPAs) creates a significant shift in the trading aspects within two parties, aiming at boosting the economic development in Africa and promoting the regional integration (“Economic Partnership Agreement with West Africa”). Regional integration covers the increase in economic, the institutional, and political linkages between the different countries sharing the same geographic proximity (“REGIONAL INTEGRATION AND THE EPAS”). It, therefore, creates a move towards the greater interdependence between countries thereby eliminating barriers to ease cooperation and reducing the trade barriers. However, the benefits of regional integration largely depend on internal coherence and consolation; opening regional markets to the EU before AU are consolidated internally will splinter the North African and sub-Saharan African countries and disrupt the regional integration process. Additionally, on the surface, EPAs allow the AU countries to export more freely to the EU; in fact, it will cement a nonreciprocal preferential trading relationship in which sub-Saharan Africa exports raw unprocessed goods and imports EU manufactured goods. Therefore, EPAs will threaten regional integration, the stability of the region, and the economic growth of Africa because EPAs are created based on an unequal basis and has potentials to deprive some…

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