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The EPA: Towards a New Era for Caribbean Trade

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Thursday, 23 September 2010

The EPA: Towards a New Era for Caribbean Trade

This latest paper in the CIGI’s series on Caribbean Economic Governance examines the likely effects of the EPA between Caribbean countries and the European Union (EU), after decades of agreements that guaranteed markets and preferential prices for Caribbean exports. This paper finds the economic effects on the countries studied – Jamaica, Guyana, Trinidad and Tobago, and St. Lucia – will likely be minimal, despite the fierce opposition to and criticism of the EPA when it was adopted in October 2008, predicting that it will be disastrous for Caribbean economies,. This paper emphasizes that to benefit fully from the EPA, Caribbean countries will need to proceed with plans for the Caribbean Single Market Economy (CSME). The EPA can, therefore, provide the framework that will allow the Caribbean to compete in a liberalized global economy.

Source: Cigionline.org