This process is expected to cover further harmonization of intellectual property laws and regulations, progress towards regional management and enforcement of national intellectual property rights, as well as the creation and management of regional intellectual property rights, as appropriate.

As outlined in the pact, the EU and CARIFORUM will exchange views and information on their practices and policies affecting transfer of technology, both within their respective regions and with third countries.

This will include measures to facilitate information flows, business partnerships, licensing and subcontracting.

Particular attention is to be paid to the conditions necessary to create an adequate enabling environment for technology transfer in the host countries, including issues such as development of human capital and legal framework.

Further, the signatories have agreed to take appropriate measures to prevent or control licensing practices or conditions pertaining to intellectual property rights, which may adversely affect the international transfer of technology, and that constitute an abuse of intellectual property rights by right holders or an abuse of obvious information asymmetries in the negotiation of licences.

The EU is expected to facilitate and promote the use of incentives granted to institutions and enterprises in their territories for the transfer of technology to institutions and enterprises of the CARIFORUM states, in order to enable the CARIFORUM countries to establish a viable technological base.

It will also endeavour to bring any known measures to the attention of the CARIFORUM/EC Trade and Development Committee for discussion and review.

The parties are also bound to comply with the World Intellectual Property Organization (WIPO) Copyright Treaty; and the WIPO Performances and Phonograms Treaty, and should seek to accede to the Rome Convention for the Protection of Performers, Producers of Phonograms, and Broadcasting Organizations.

Furthermore, the parties will facilitate the establishment of arrangements between their respective collecting societies with the purpose of mutually ensuring easier access and delivery of licences for the use of content at the regional level, throughout Europe and CARIFORUM states, so that right-holders are adequately rewarded for the use of such content.

The Fourth Lomé Convention was replaced by the Cotonou Agreement in 2000, which extended these unilateral trade preferences to African Caribbean and Pacific (ACP) countries up to the end of 2007.

Extensive negotiations for World Trade Organization (WTO) compatible reciprocal trade agreements, called Economic Partnership Agreements (EPAs) began in September 2002, leading up to a December 2007 deadline, when the new agreement was signed with ACP countries.

This effectively replaces the current non-reciprocal preferential trade regime.

The fundamental principles and objectives of the EPA are defined by the Cotonou Agreement, and seek to create sustainable development of the ACP States, their smooth and gradual integration in the world market, and eradication of poverty.

Specifically, sustainable growth will be enhanced; production and supply capacity increased; and structural processing and economic diversification of ACP states promoted, while supporting regional integration.

The EPA has resulted in, among other things, predictability in market access into the European Union, the world's largest import spending market for goods and services, with USD6.4tn spent on imports of goods and services in 2006.