Economic Partnership Agreements – Why Should You Care?
Trading with the European Union has been enhanced following the ratification of the European Union-Eastern and Southern Africa Interim Economic Partnerships Agreement (EU-ESA iEPA). Zimbabwe is among the five countries including Comoros, Madagascar, Mauritius and the Seychelles to benefit from the EPAs. In 2020, the European Union has been at the forefront of international trade in terms of both exports and imports as it accounted for about 25.6% of trade in goods and services. The regional block is Africa’s number one trading partner accounting for 28% of Africa’s total trade with the rest of the world and was also the largest source of foreign direct investment, amounting to Euro 242 billion in 2019.