West
Africa is a major player in global fish production and trade.
Fish and fisheries products have become the most important foreign
exchange earner for many of the countries in the region. This
makes fisheries a critical part of the economic development
prospects. At the same time, fisheries represent a significant
contributor to employment and food and protein intake in the
respective countries.
West Africa'
trade in fisheries is governed both by the WTO and GATT rules
and agreements, but also the regional agreements between the
European Union (EU) and the group of African, Caribbean and
Pacific countries (ACP). The ACP countries account for nearly
35 percent of total EU fish imports (in value). Countries in
West Africa account for 38 percent of total EU fish imports
(in value) from ACP countries. As a result, fisheries have always
been an essential aspect of the economic relations between the
EU and ACP countries. At the bilateral level, these relations
have for many years been structured under fishery agreements
between the EU and individual countries of the region, whereby
EU fishing vessels are allowed to operate in the countries in
West Africa in return for compensation paid by the EU.
At the
regional level, the terms and conditions of trade in fish and
fish products between the EU and ACP countries are determined
by the Cotonou Agreement (CA). The CA provides ACP countries
for market-access into the EU on the basis of non-reciprocal
trade preferences. These allow ACP countries to export their
fish products to the EU without paying the import taxes applied
to fisheries exports from other countries.
The current
non-reciprocal preferential trade relations under the Cotonou
Partnership Agreement between the EU and ACP countries are due
to be replaced by comprehensive Economic Partnership Agreements
(EPAs) between the EU and ACP regional groupings, which are
set to be concluded by the end of the year 2007. Given the importance
of fisheries in the relations between the EU and West Africa
future changes to the trade regime that may result from the
conclusion or non-conclusion of EPA, and their likely impact
on trade preferences, are of key strategic importance for West
African economies.
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