Zim-EU Agreement to Suffocate Trade
The Interim Economic Partnership Agreement (IEPA) Zimbabwe signed with the European Union (EU) is set to suffocate the country’s trade and industrial development policies due to the removal of taxes, a regional non-governmental organisation has warned. Zimbabwe alongside Mauritius, Seychelles and Madagascar concluded the IEPA with the EU that would result in the removal of taxes between the African countries and the EU.
But in an analysis of the trade pact, the Southern and Eastern Africa Trade, Information and Negotiations Institute (Seatini) said the elimination of the export taxes is a blow to both the National Trade Policy (NTP) and Industrial Development Policy (IDP) meant to promote the trade and industrial revival respectively.
Last year, the Zimbabwean government launched the Industrial Development Policy 2012-2016 that advocates value-addition or beneficiation and the NTP to guide the country’s trade with the rest of the world.
“There is no doubt that for Zimbabwe…
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