The agreement enjoins member states to open up 70 percent of their markets to European goods over a period, prompting fears nascent companies may collapse since most European goods are of high quality and a lot cheaper than local goods.
The European Union has asked Nigeria to sign the Economic Partnership Agreement with attractive offers including a €6.5bn (about N1.4tn) Development Programme.
This is a way of thinking as absurd as that consisting for a poultry producer to open the henhouse gate to allow the fox to test the poultry resistance capacity.
This document is limited to assessing the importance of the liberalization of agricultural imports in the EU-West Africa (WA) Economic Partnership Agreement (EPA) given the crucial nature of these products for WA.
There is a rumour that, if Nigeria's stance not to sign the regional EPA is definitive so that the EPA would be buried, DG trade is contemplating to perpetuate the interim EPAs of Ivory Coast and Ghana provided they would formally sign them.
The EU’s Economic Partnership Agreements with sub-Saharan countries inked a few years ago are not getting off the ground as African governments don’t like their EU-inspired rules on raw materials policies.
The Manufacturers Association of Nigeria (MAN) has admonished the federal government to withhold its endorsement of the ECOWAS-EU economic partnership agreement.
West Africa and the European Union continue to prepare for the implementation of the Economic Partnership Agreement -- pending its signature by all member states -- by putting together the necessary texts for the institutional bodies and instruments envisaged under the EPA, in order that it becomes operational immediately upon entering into force.