Benefits Of Economic Partnership Agreement

Just as all the benefits of an economic partnership are shared among each partner, so are its losses. No partner will bear most of the financial risk. If you know this fact, you can help the first partners you want to recruit to show up on board and join the partnership. The Economic Partnership Agreements (EPAs) concluded by the European Union (EU) with regional blocs of African countries (and some African countries) aim to boost more than just trade between the EU and African countries. They aim to promote sustainable development and poverty alleviation, including by supporting regional integration processes in Africa, encouraging the gradual integration of African economies into global markets, and improving the capacity of African countries to take advantage of trade opportunities for economic growth. If the input of each partner is given before making important decisions, many financial and business mistakes can be avoided. In addition, the stability of the Economic Partnership Agreement can be jeopardised if each partner does not give its opinion on the cases. The partnership weakens a little each time management fails to agree on important issues that concern it. To illustrate how the business works, add instructions to the partnership agreement on how business decisions are made.

Regular meetings will also help to ensure that all partners stop on an equal footing and are aware of recent developments related to the economic partnership. The Economic Partnership Agreements are liberalised trade between the EU and ACP countries, which allows ACP countries to export more goods to European consumer markets and opens up ACP countries to more goods imported from the EU. Supporters of the agreements, such as the European Commission`s Directorate-General for Trade, argue that increased imports will provide cheaper raw materials from Europe and promote economic diversification in ACP countries. . . .