State Affairs

PM Skerrit in Discussions to Signing EPA Agreement in Barbados

By Online News From Dominica ⋅ September 12, 2008 ⋅  Print This Post ⋅ Post a comment

Prime Minister Roosevelt Skerrit joined his Caricom counterparts in a special meeting in Barbados on Wednesday to find a common ground on how they will Move forward with regard to the signing of the Cariforum Economic Partnership Agreement (EPA).

Several signing dates for the Cariforum EU Economic Partnership Agreement have since July been set and pushed back as some Caribbean Governments request more time to consult with advisors and voters. The Dominican Republic, Jamaica, Trinidad, Belize, and the Bahamas have reportedly hopped on board.

The agreement must be signed by October 31 if joining is favored. The other option is to be treated as a GSP Partner which means competing on price and quality with other international traders.
The EPA also covers investment, services competition and development assistance. But one concern is the most favored nation or MFN Clause which Caribbean countries fear will be exploited later by other free trade partners demanding similar concessions to those afforded by Europe on Market Access.

Tags: Barbados, Caribbean, Caribbean Community, Caricom, Dominican Republic, Economic Partnership Agreement, European Union, World Trade Organization