Business
Namibia reluctant to sign trade deal with EU
Namibia says it will not sign a preferential trade deal with the European Union (EU) unless its interests are “adequately considered” and conditions met.
The EU has been pushing for Namibia to sign an interim economic partnership agreement (EPA) on a number of goods or face losing quote and tariff-free access to its markets.
Briefing parliament on the status of the EPA on Thursday, Trade and Industry minister Hage Geingob, who has been leading negotiations on the deal for Namibia, described the EU’s refusal to accept conditions to the deal as shocking.
The impasse will further delay the signing of the full EPAs, which may not go down well with the European bloc.
At a watershed meeting of Southern African Development Community (SADC) Trade Ministers in 2010 Mr Geingob had proposed that countries willing to sign the agreement do so with the support of the more hesitant ones, while those that chose not to sign the initial agreement also be given the necessary support and understanding.
