Namibia: Billions in balance if trade pact fails

Namibia will have to pay more than half a billion dollars in duties if the country has not signed the economic partnership agreement (EPA) with the European Union (EU) by January 2014. The EU recently adopted a proposal to stop Namibia from enjoying duty- and quota-free access to its markets if the country refuses to commit to the controversial trade pact by then. The European Council still has to approve the proposal. Without preferential access, Namibia would have to pay an average of 19,5 per cent duties on all future exports to the EU.