Economic Partnership Agreements

Economic Partnership Agreements (EPAs) are trade agreements between countries or regions that aim to enhance economic cooperation by reducing barriers to trade and investment. These agreements typically involve lowering tariffs (taxes on imports), promoting exports, and fostering better business relationships. EPAs can help developing countries gain access to larger markets, encouraging growth and development. They also often include provisions for sustainable development and support for local industries, ensuring that the benefits of trade are shared more equitably. Overall, EPAs seek to create stronger economic ties and promote mutual prosperity between the involved nations.