EPA (Economic partnership agreement): sign or die.

Photo Flickr

Last August, Cameroon has officially launched a new economic partnership with the EU under the controversial agreement labelled as EPA (Economic partnership agreement.)

In few words, the document states that 80% of the European market will gradually get access to the country duty free over 15 years. This advantage is supposed to be reciprocal: Cameroon will sell 100% of his goods in Europe as from the signature of the deal.

Seams great. However, it’s useful to note that the EU is composed of more or less 26 powerful economies usually subsidized by their governments, while Cameroon is one poor African country, still struggling to pay the colonial debt. There is no possible competition, under whatever agreement.

Many African countries have received threats from the European Union in order to sign the document, example of Namibia or Kenya (see page 3 of the document where the county is listed). Why threats, if « partnership » is involved?

A panel of experts in Economy all over the world claim that such agreements would be a suicide for weak economies, yet the leading monetary and European institutions attest the contrary.

One may wonder who do they work for ? For the well being of all or for themselves? To fight against poverty or to increase it ?

Consequences may be dramatic for both sides; for long term economic instability means long term exodus of poor people.

R.P

Leave a Reply

Your email address will not be published. Required fields are marked *