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Wednesday, 17 June 2015

Cariforum-EU EPA: useful trade & development tool

In a recent statement, the Ambassador Paola Amadei, Head of the European Union (EU) delegation in Jamaica, said that the Cariforum Economic Partnership Agreements (EPAs) is a very useful tool for trade and development in the Caribbean. She stated, “The EPA is just a tool, but then it's up to the economic actors to use those tools (…) currently, almost the entire offer of Jamaican products and Caribbean products and services enter the EU duty and quota free. This means that this arrangement is stable over time; while, when you have a concessional arrangement it can be interrupted any time, so this is one advantage." Amadei also underscored the importance of penetrating the EU market with competitive and high quality goods, and noted that last year exports to the EU doubled compared to 2008/2009. She also urged the countries of the region to use the tools and improved capacities provided by their EPAs to foster increased inter-regional trade.