The EU Enhanced Partnership and Cooperation Agreement (EPCA) is a landmark international accord signed between the European Union and its member states with the countries of Central Asia, namely Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. This agreement is aimed at promoting closer political and economic cooperation between the EU and Central Asian countries.
The EPCA was signed in 2015 and came into effect in 2016. It covers a wide range of policy areas, such as trade and investment, transport, energy, environment, education, research, and innovation. The agreement seeks to deepen the existing ties between the EU and Central Asia, which were originally established in the early 1990s after the collapse of the Soviet Union.
One of the key objectives of the EPCA is to enhance the economic relations between the EU and Central Asia. The agreement aims to boost trade and investment flows between the two regions, while also promoting a more favorable business environment. Under the EPCA, the EU has agreed to remove tariff barriers on a range of goods and services from Central Asia, opening up new markets for businesses in the region.
The EPCA also promotes cooperation in the field of energy, which is of great importance for both the EU and Central Asian countries. Central Asia is rich in natural resources, including oil, gas, and minerals, which are essential to the EU`s energy security. The agreement seeks to develop a more coordinated approach to energy policy, ensuring that energy resources are used sustainably and efficiently.
Another important area of cooperation under the EPCA is transport. The agreement seeks to improve transport links between the EU and Central Asia, with a focus on rail and road infrastructure. This will not only facilitate trade and investment but will also provide new opportunities for people-to-people exchanges.
Overall, the EPCA represents a significant step forward in the EU`s relationship with Central Asia. The agreement promises to strengthen economic ties and promote cooperation in a range of policy areas, providing new opportunities for growth and development in both regions. As such, it is an important instrument for promoting stability and prosperity in Central Asia, which is of vital importance to the EU`s long-term strategic interests.