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04.10.2008 Business & Finance

ACP Group decides to take a second look at EPAs

By gna

The Sixth African-Caribbean-Pacific (ACP) States Summit has resolved to take a second look at Economic Partnership Agreements (EPAs) with the European Union (EU) with a view to making them more inclusive and to foster integration within the Group.
To this end, the Heads of State and Government would engage in high-level consultations on the EPAs with a number of European Union (EU) member states.
This formed part of a three-point decision taken at the end of their two-day meeting in Accra on Friday.

They directed the President of the Council and Secretary-General of the Group to explore by the end of October 08, modalities for conducting the high-level engagement with key stakeholders in the EU.

The Leaders also instructed the Council of Ministers to work on the creation of an ACP Free Trade Area (FTA).

President John Agyekum Kufuor, Current President of ACP, said they wanted the Agreements to reflect a strategic partnership that would be a win-win for all and not one of continued dependence on Europe.

He said the Summit, held under the theme; "Promoting Human Security and Development" took short and long term views of the current global challenges - climate change, soaring crude oil and food prices.

The deliberations, he noted, were going to significantly contribute to the shaping of the destiny of the globe.

President Kufuor underscored the need for member countries to continue to interact and maintain their close relations and contacts.

About 2,000 delegates including Heads of State and Government of the 79-member-nation Group attended the Accra Summit. It came off at a critical time of turbulence on the global financial market.