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Problem 1:
"African Caribbean and Pacific (ACP) countries no longer have preferential access to the European market for their exports, except under provisions of „Special and Differential Treatment? and under the „Everything But Arms? (EBA) initiative. Consequently, ACP countries have engaged in discussions on the Economic Partnership Agreement (EPA) with the European Union".
a) Explain what is meant by Economic Partnership Agreement (EPA).
b) Discuss how the EPA agreement would be beneficial to ACP countries.
Problem 2:
(a) Distinguish between a common market and a customs union.
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