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EPA Between EU And Caribbean To Be Signed In July,
by Amanda Banks, Tax-News.com, London
Thursday, May 15, 2008
The Economic Partnership Agreement (EPA) between the European Commission (EC)
and the Caribbean Forum of African, Caribbean and Pacific States (CARIFORUM) is
to be signed in July 2008, according to an announcement by the Caribbean Community (CARICOM) Secretariat.
At the Twenty-Sixth Special Meeting of the Council for Trade and Economic Development
(COTED), which wrapped up in Antigua and Barbuda on 10th May 2008, ministers
considered possible dates for signing and the provisional application of the
Agreement, and reported that they were in consultations with the EC on the subject.
The EPA negotiations were concluded last December when, after years of difficult
negotiations, Peter Mandelson, EU Trade Commissioner, finally secured the adoption
of a ruling which will bring into effect a set of Economic Partnership Agreements
with ACP member countries, giving them free access to the member states of the
the EU for their goods exports, in return for opening their own markets to the
EU after transition periods of up to 25 years.
CARIFORUM member states are
now in the process of reviewing the text prior to signature.
The COTED held discussions on what needed to be in place for implementation
of the EPA. The CARICOM Secretariat has prepared a road map outlining in broad
terms what needed to be done, and the focus is now placed on the commitments
at the level of member states. The ministers agreed on the need to identify
national coordinators to move the process forward.
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