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Today’s Top Headlines

EU Funding To Boost Caribbean EPA Implementation

by Ulrika Lomas,, Brussels

25 May 2012

The Caribbean Development Bank and the European Union have agreed to fund a multi-million facility to aid members of the Caribbean Community in implementing the necessary reforms to allow them to fully benefit from the preferential trade conditions provided for in the CARIFORUM-EU Economic Partnership Agreement (EPA).

The EPA, in place since 2008, significantly liberalizes the trade regime between the European Union and a total of 16 Caribbean nations. The EPA is a single negotiated agreement which governs how the two regions will cooperate on a wide range of trade-related issues.

Under the proposals, over a thirty-six month period, funds will be used by Caribbean nations to fund EPA implementation initiatives. In particular, the facility will fund nations in overcoming the administrative and technical aspects of implementing the EPA, with the stated aim of ensuring that the opportunities within the EPA can be fully exploited. Resources will also be allocated to ensure local knowledge of the potential opportunities arising from the agreement.

TAGS: Haiti | Suriname | environment | tax | economics | business | Bahamas | Montserrat | Saint Lucia | Saint Vincent and the Grenadines | export duty | law | tariffs | Belize | Grenada | Jamaica | Trinidad and Tobago | agreements | Antigua and Barbuda | Dominica | Dominican Republic | Guyana | Saint Kitts and Nevis | import duty | trade | European Union (EU) | Barbados | free trade zone | Europe

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