Eu, African Pact Aims To Boost Trade

Six African countries say they will open up their markets to goods and services from the European Union.

Fourof the countries - Mauritius, Seychelles, Zambia and Zimbabwe - signedthe agreement with the EU Saturday, while two other countries -Madagascar and Comoros - say they will formally sign the deal in thenear future.

The African countries have been able to sell manygoods to the EU since 2008, and the deal ensures full access to the EUmarket will continue. In return, the African countries have agreed toremove tariffs on EU goods over the next 15 years.

EU Trade Commissioner Catherine Ashton (file photo)EU TradeCommissioner Catherine Ashton says the deal will help the eastern andsouthern African nations diversify their economies and create a morestable economic environment.

She says several other countriesfrom the region - Djibouti, Ethiopia, Eritrea, Malawi and Sudan - havealso been involved in trade talks and could also join the pact.

Goodsfrom the six countries that have already agreed to the trade deal makeup only a fraction of a percent of all EU imports, worth almost $4.6billion in 2008.

The African countries imported about $6.2billion worth of goods, mostly mechanical and electrical components andvehicles, over the same time span..


Some information for this report was provided by AP.