- CARIFORUM -
last update : 15 December 2008
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EPA Negotiations: Where do we stand? - CARIFORUM - last update : 15 December 2008 |
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State of play
The Caribbean is the only region to have signed a comprehensive regional EPA with the EU so far.
After the EPA was signed and notified to the WTO in October 2008, the agreement will be applied provisionally during the process of ratification by the European Parliament and Caribbean and EU national parliaments. All CARIFORUM states are expected to complete domestic procedures for its provisional application by mid-December 2008.
Caribbean Heads of State and Government are still expected to agree which organisation will be in charge of coordinating and assessing the implementation of the EPA on the Caribbean side. According to a statement by the Dominican Republic, options being considered include the CARICOM Secretariat, a new CARIFORUM EPA implementation authority, the Caribbean Regional Negotiating Machinery (CRNM) and the Caribbean Export Development Agency.
-> For details on current developments, please consult our monthly EPA negotiations update.
CARIFORUM-EU Economic Partnership Agreement
Text of the agreement:
Economic Partnership Agreement between the CARIFORUM states, on the one part, and the European Community and its Member States, on the other part, published in the Official Journal of the European Union on 30 October 2008 FR
Summary of the agreement:
"On December 16 the European Commission initialled an Economic Partnership Agreement with Antigua and Barbuda, Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Saint Lucia, Saint Vincent and the Grenadines, Saint Christopher and Nevis, Surinam, and Trinidad and Tobago (the CARIFORUM countries) covering all areas under negotiations.
Goods liberalization
The coverage of goods liberalised by CARIFORUM countries under this Agreement amounts to 61.1% of EC imports in value over 10 years, 82.7% over 15 years (85.1 % of tariff lines) and 86.9 % over 25 years (90.7 % of tariff lines).
The main exclusions are agricultural and processed agricultural products; some chemicals, furniture and other industrial products.
The Agreement covers all provisions necessary for a FTA agreement, such as provisions on import and export duties and charges, non-tariff measures, trade defence instruments (anti-dumping and countervailing measures, multilateral and bilateral safeguards), special provisions on administrative cooperation in custom matters, a protocol on rules of origin.
Services liberalization
The Agreement includes a Title on Services, Investment and E-commerce and the related schedules of commitments, which give rise to an agreement compatible with GATS article V. The sectoral coverage is significant with more than 80 percent for Dominican Republic , and between 50 to 62 percent of services sectors for all others except Haiti and Bahamas who will join the services and investment part of the agreement within 6 months. On the EC side, there are important new commitments in the areas of movement of service providers (sellers of goods, investors, short term business visitors, graduate trainees), as well as for entertainers, artists, chefs de cuisine and fashion models.
Beyond market access the Agreement contains significant regulatory principles in a number of sectors, in particular tourism at the request of Cariforum, to help them develop competitive services sectors and ensure benefits for the region and its citizens. In addition the EPA includes provisions to cooperate against corrupt practices of investors, as well as binding provisions on non-lowering of standards in the environmental and social fields and for cultural diversity laws and regulations.
Finally the EPA also incorporates the first Protocol on culture implementing the UNESCO Convention on cultural diversity and providing Cariforum artists with easier movement of persons and co-production market access.
Other features
The Agreement contains provisions on Customs and Trade Facilitation, Technical Barriers to Trade, Sanitary and Phytosanitary Measures, Agriculture and Fisheries, Current Payment and Capital Movements, Competition, Innovation and Intellectual Property, Public Procurement, Environment and Social Aspects. Part I of the Agreement contains Development Cooperation provisions setting out priority areas of action for the implementation of the Agreement. In turn each individual substantive chapters of the Agreement includes specific areas of cooperation. A Development cooperation declaration establishes the link with the Aid for Trade strategy and recalls the Commission and Member States ' intention to contribute to the funding of a regional development fund. Finally, the agreement contains a detailed dispute settlement mechanism, as well as general, final and institutional provisions."
(Summary provided by the European Commission, EPA Flash News, 20 December 2007, keywords highlighted by acp-eu-trade.org editors )
Relevant documents and websites