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EPA signed
- Published 12/17/2007
- Articles on Trade with Caricom
16 December 2007 - www.cbc.bb.com
Regional countries have reached agreement with the European Union on a new Economic Partnership Agreement, just days before the December 31 deadline.
Representatives of Cariforum (Caricom and Dominican Republic) and the EU inked the deal in Bridgetown on Sunday. The new agreement replaces the Cotonou Agreement which expires at year-end.
After two full days of talks that ended in the early hours of Sunday morning, representatives from both sides concluded discussions after settling the issue of the Caribbean's access to Europe's entertainment services market.
"This is a very, very difficult concession for Europe. It allows musical performers and artistes to move into Europe to present their talent and to seize business opportunities. This is a novelty that was very difficult to achieve," said Deputy Director General for Trade of the EU Commission, Karl Falkenberg, who signed the document for the EU.
Caribbean trade officials also agreed that agreement on the issue was a major breakthrough.
"This was a major gain. Europe has given us better access than any other group," Head of the Caribbean Regional Negotiating Machinery (CRNM), Ambassador Richard Bernal told the Caribbean Media Corporation (CMC) after the talks were concluded. "We have made it as easy as possible to enter Europe's markets".
The matter had threatened to prevent the completion of the EPA, with CARICOM Chairman Owen Arthur making it clear the region would not sign any agreement unless Europe opened up its markets to the region's musicians, performers and other cultural workers.
Ambassador Bernal described the EPA as historic in terms of content and precedent.
"It will promote and deepen the economic ties between the two longest running integration processes in the world. It will enhance our trade in goods because the European Union is providing duty-free, quota-free access and we are liberalising access to our market," he told a media conference on Sunday.
"It consolidates a longstanding friendship and a longstanding cooperation and trade relationship moving through the Lomé Conventions and evolving through the Cotonou into this new type of economic agreement," he added.
Falkenberg said the agreement was the culmination of a tough piece of work over the last couple of years. He said the EPA will consolidate trade in goods between the European Union and CARIFORUM, with an expanded relationship into areas of services and investment.
"We are convinced that the result that we have achieved will strengthen the CARIFORUM region, the integration of the region, the potential for doing business here," he said. "We think that the conditions, once this agreement comes into effect, will be better and should, therefore, lead to more diversified economies, to more creation of employment, eventually to more revenue and thereby combating poverty and contributing to the overall economic development of this region".
The document is the first comprehensive Economic Partnership Agreement to be completed between the European Union and any of the ACP regions.
Source:
Regional countries have reached agreement with the European Union on a new Economic Partnership Agreement, just days before the December 31 deadline.
Representatives of Cariforum (Caricom and Dominican Republic) and the EU inked the deal in Bridgetown on Sunday. The new agreement replaces the Cotonou Agreement which expires at year-end.
After two full days of talks that ended in the early hours of Sunday morning, representatives from both sides concluded discussions after settling the issue of the Caribbean's access to Europe's entertainment services market.
"This is a very, very difficult concession for Europe. It allows musical performers and artistes to move into Europe to present their talent and to seize business opportunities. This is a novelty that was very difficult to achieve," said Deputy Director General for Trade of the EU Commission, Karl Falkenberg, who signed the document for the EU.
Caribbean trade officials also agreed that agreement on the issue was a major breakthrough.
"This was a major gain. Europe has given us better access than any other group," Head of the Caribbean Regional Negotiating Machinery (CRNM), Ambassador Richard Bernal told the Caribbean Media Corporation (CMC) after the talks were concluded. "We have made it as easy as possible to enter Europe's markets".
The matter had threatened to prevent the completion of the EPA, with CARICOM Chairman Owen Arthur making it clear the region would not sign any agreement unless Europe opened up its markets to the region's musicians, performers and other cultural workers.
Ambassador Bernal described the EPA as historic in terms of content and precedent.
"It will promote and deepen the economic ties between the two longest running integration processes in the world. It will enhance our trade in goods because the European Union is providing duty-free, quota-free access and we are liberalising access to our market," he told a media conference on Sunday.
"It consolidates a longstanding friendship and a longstanding cooperation and trade relationship moving through the Lomé Conventions and evolving through the Cotonou into this new type of economic agreement," he added.
Falkenberg said the agreement was the culmination of a tough piece of work over the last couple of years. He said the EPA will consolidate trade in goods between the European Union and CARIFORUM, with an expanded relationship into areas of services and investment.
"We are convinced that the result that we have achieved will strengthen the CARIFORUM region, the integration of the region, the potential for doing business here," he said. "We think that the conditions, once this agreement comes into effect, will be better and should, therefore, lead to more diversified economies, to more creation of employment, eventually to more revenue and thereby combating poverty and contributing to the overall economic development of this region".
The document is the first comprehensive Economic Partnership Agreement to be completed between the European Union and any of the ACP regions.
Source: