AGL 38.00 Increased By ▲ 0.01 (0.03%)
AIRLINK 210.38 Decreased By ▼ -5.15 (-2.39%)
BOP 9.48 Decreased By ▼ -0.32 (-3.27%)
CNERGY 6.48 Decreased By ▼ -0.31 (-4.57%)
DCL 8.96 Decreased By ▼ -0.21 (-2.29%)
DFML 38.37 Decreased By ▼ -0.59 (-1.51%)
DGKC 96.92 Decreased By ▼ -3.33 (-3.32%)
FCCL 36.40 Decreased By ▼ -0.30 (-0.82%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 14.95 Increased By ▲ 0.46 (3.17%)
HUBC 130.69 Decreased By ▼ -3.44 (-2.56%)
HUMNL 13.29 Decreased By ▼ -0.34 (-2.49%)
KEL 5.50 Decreased By ▼ -0.19 (-3.34%)
KOSM 6.93 Decreased By ▼ -0.39 (-5.33%)
MLCF 44.78 Decreased By ▼ -1.09 (-2.38%)
NBP 59.07 Decreased By ▼ -2.21 (-3.61%)
OGDC 230.13 Decreased By ▼ -2.46 (-1.06%)
PAEL 39.29 Decreased By ▼ -1.44 (-3.54%)
PIBTL 8.31 Decreased By ▼ -0.27 (-3.15%)
PPL 200.35 Decreased By ▼ -2.99 (-1.47%)
PRL 38.88 Decreased By ▼ -1.93 (-4.73%)
PTC 26.88 Decreased By ▼ -1.43 (-5.05%)
SEARL 103.63 Decreased By ▼ -4.88 (-4.5%)
TELE 8.45 Decreased By ▼ -0.29 (-3.32%)
TOMCL 35.25 Decreased By ▼ -0.58 (-1.62%)
TPLP 13.52 Decreased By ▼ -0.32 (-2.31%)
TREET 25.01 Increased By ▲ 0.63 (2.58%)
TRG 64.12 Increased By ▲ 2.97 (4.86%)
UNITY 34.52 Decreased By ▼ -0.32 (-0.92%)
WTL 1.78 Increased By ▲ 0.06 (3.49%)
BR100 12,096 Decreased By -150 (-1.22%)
BR30 37,715 Decreased By -670.4 (-1.75%)
KSE100 112,415 Decreased By -1509.6 (-1.33%)
KSE30 35,508 Decreased By -535.7 (-1.49%)

Europe's trade chief accused Nigeria and South Africa of trying to block negotiations for new trade and investment deals between the European Union and scores of former colonies.
The EU wants to sign new Economic Partnership Agreements with nearly 80 African, Caribbean and Pacific (ACP) countries before December 31, when existing preferential trade rules expire. The World Trade Organisation has deemed those rules illegal.
The 15-nation Economic Community of West African States (ECOWAS), which includes oil-exporting heavyweight Nigeria, has rejected the EU call for new interim commercial deals by year's end, and demanded an extension of the WTO waiver.
"It is quite clear to me that Nigeria, which is the dominant economy in (the western African) region, wants to sit like an elephant in the middle of the road and stop the others proceeding," Peter Mandelson told European Parliament lawmakers, last week.
He also said South Africa was holding back smaller countries in the southern African region from making progress in talks with the EU on issues such as services and investment rules. Mandelson has said Brussels may have to settle for interim deals covering trade in goods this year before pressing on with more sensitive issues such as services and investment in 2008.
On Monday, he said only a few issues had to be resolved with Caribbean countries and interim, "stepping stone" deals could yet be reached with the Pacific and southern African regions.
Talks with eastern Africa could result in a deal with just some countries in the region but a meeting last week with central African states was "very disappointing" and the EU would try for a deal with the region's banana exporter Cameroon.
Similarly, a "patchwork" agreement might be reached with Ivory Coast and Ghana even if the oil-rich west African heavyweight Nigeria is not included, Mandelson said. He also said the EU would be careful not to damage nascent industries in ACP countries, something critics such as development campaign group Oxfam have said will happen given the superior firepower of European business.
"Where there is direct competition, in particular in processed agricultural goods and for subsistence products, I have told my negotiating teams not to seek market opening."

Copyright Reuters, 2007

Comments

Comments are closed.