EU Trade Commissioner Peter Mandelson travelled to St Lucia last week to launch the third phase of Economic Partnership Agreement negotiations between the European Union and the Caribbean region.
The crucial third phase will launch negotiations on the text of a final agreement, encompassing the continued integration of the Caribbean regional economy and access to the European goods and services market.
On Thursday, Commissioner Mandelson held bilateral talks with Barbados' Foreign Minister and EPA Spokeswoman Dame Billie Miller, Prime Minister of St Lucia Dr Kenny Anthony and Guyanan Trade Minister and CARICOM’s spokesperson on the DDA, Clement Rohee.
Speaking during his visit, Mr Mandelson observed that:
“Sustained growth and real development in the Caribbean requires that our EPAs do more than guarantee preferential access to the EU market. The focus on regional integration is there to build regional economies, attract inward investment and encourage economic diversification."
"Together with our Caribbean partners we are now moving into the vital third phase of this process. The EU is highly sensitive to the unique challenges of development in the Caribbean and it is deeply committed to helping the region manage economic change.”
The European Union is currently negotiating trade and development agreements with 6 African, Caribbean and Pacific (ACP) regions. They will replace the trade chapters of the 2000 Cotonou Agreement between the EU and the ACP countries.
The exemption of these chapters from WTO law will expire in 2008, requiring both parties to have put in place a WTO-compatible alternative. The European Union has committed to ensuring that the EPAs will guarantee both the development focus and the preferential trading terms currently enjoyed by ACP countries, while complying with WTO obligations.
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