ECOWAS Economic Partnership Agreement with the EU and Nigerian Trade and Development
This paper offers a simple way to assess the impact on the economy of Nigeria of an economic partnership agreement (EPA) between the ECOWAS countries and the European Union (EU) , based on the market access offer contained in the negotiation propos...
| Main Authors: | , , , , |
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| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/ http://hdl.handle.net/10986/21065 |
| Summary: | This paper offers a simple way to assess
the impact on the economy of Nigeria of an economic
partnership agreement (EPA) between the ECOWAS countries and
the European Union (EU) , based on the market access offer
contained in the negotiation proposals in early 2014 with
the following key elements: liberalization, to the benefit
of the EU, of West African market access for 75 percent of
tariff lines over a period of 20 years; three categories of
products subject to gradual liberalization, in four stages
of five years each, starting on December 31, 2019 for the
first category being liberalized and finishing in 2035 for
the third category. The fourth category of products,
representing one quarter of all tariff lines, is not subject
to liberalization; and possibility of recourse to trade
defense measures, including bilateral safeguard measures
(article 22) and an infant industry clause (article 23). The
analysis presented in this paper is based on a new
methodology that combines the advantages of a partial
equilibrium modeling framework with the wealth of firm level
information contained in a World Bank enterprise survey for
Nigeria. The intention is to add value to the policy debate
around the EPA by generating results that are intuitive and
transparent to a non-technical audience, and that rely on a
limited number of simple assumptions, while adding precision
and detail to the expected impact on the domestic economy. |
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