If each partner`s input is given before making important decisions, many financial and business mistakes can be avoided. In addition, the stability of the Economic Partnership Agreement may be compromised if each partner does not rule on trade issues. The partnership will weaken a little each time management fails to agree on important issues that affect it. To clarify how the business works, you add instructions on how business decisions are made to the partnership agreement. Regular meetings will also help each partner stay on the same side and draw attention to recent events related to the economic partnership. Just as the benefits of an economic partnership are distributed among the various partners, they are also their losses. No partner will bear the primary burden of financial risk. Knowing this fact can help the first partners you want to recruit on board and join the partnership. Shane Hall is a writer and research analyst with more than 20 years of experience.
His work has been published in The Brookings Papers on Education Policy, Population and Development, and various Texas newspapers. Hall has a Ph.D. in Philosophy in Political Economy and is a former professor of economics and political science. The Cariforum-EU Economic Partnership Agreement (EPA) is a permanent instrument of the CARIFORUM-CE trade partnership. It replaces the commercial component of Lomé IV and its successor Cotonou (2000). It is more of a free trade agreement (FTA), as it contains a strong development component, with clear links with development assistance for the adaptation and modernization of Cariforum economies. While sufficient time is required to develop the partnership agreement, it is also easy to establish an economic partnership. The partnership agreement lists the role of each partner, how the operation is managed, meetings and decision-making.
The European Union (EU) implemented economic partnership agreements in January 2008. The agreements aim to gradually reduce tariffs and other barriers to trade between the EU and african, Caribbean and Pacific (ACP) countries.