The CARIFORUM-EU Economic Partnership agreement (EPA) is a permanent instrument of trade partnership between CARIFORUM and the EC. It replaces the trade component of Lomé IV and its successor Cotonou (2000).
It is more than a free trade agreement (FTA), as it contains a strong development component with clear links to development aid for adjustment and modernization of CARIFORUM economies.
Benefits of the EPA
The Economic Partnership Agreement (EPA) will benefit both the Caribbean and Europe as it:
- helps the two regions invest in and trade with each other
- removes trade barriers, which in turn produces healthy competition in the EU market and lower prices for consumers.
- promotes more choice and better quality through the importation of new authentic Caribbean products and new varieties of familiar goods.
- gives European consumers easier access to products from small-scale, family-run businesses in Caribbean countries.
- will help countries become more prosperous because of increased trade. This will generate more demand for European products and expertise, which will create employment.
- provides predictable EU market access for CARIFORUM countries
- will gradually open the EU market for services, including creative and entertainment industries
- ensures duty-free-quota-free market access into the EU for all products
- EU exports of sensitive products will be liberalised over a period of 25 years
- makes it possible for CARIFORUM companies to set up a commercial presence in the EU
Why you should attend…
- Meet leading suppliers from the Caribbean
- Reduce sourcing costs
- Buy directly from producers
- Explore new opportunities for trade with the Caribbean
- Take advantage of the EU-Economic Partnership Agreement (EPA) with the Caribbean and source authentic Caribbean products and services.
The CARIFORUM-EU Economic Partnership Agreement (EPA) benefits both the Caribbean and Europe as it facilitates investment and trade between the two regions.