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Monday, 14 December 2009

Haiti signs the CARIFORUM–EU Economic Partnership Agreement

On December 11, Haiti signed the Economic Partnership Agreement and joins the fourteen Caribbean States that signed the EPA in October 2008. This will strengthen Haiti's ties both with the EU, and with other Caribbean countries. The Cariforum-EU EPA is North-South trade and development agreement of new generation. It aims to promote sustainable development, boost trade, investment and innovation, help build a regional market among Caribbean countries, and tackle poverty in the region. Previous preferential trade arrangements with the EU had failed to boost Caribbean countries' development. Other developing countries had also criticised those arrangements as discriminating against them, and had challenged them at the World Trade Organisation. So the EU and the Cariforum group of Caribbean countries negotiated a new trade and development agreement, the EPA, between 2004 and 2007. The EPA was signed in October 2008, by 14 out of fifteen Cariforum member states. The only Least Developed Country in the Western hemisphere, Haiti has recently been grappling with a range of pressing problems.

Source: European Commission