CARIFORUM ministers deliberate on trade negotiations
Tuesday, March 26, 2019
by Anicia Antoine, GIS
MINISTERS WILL MEET WITH THE EUROPEAN COMMISSIONER FOR DEVELOPMENT IN APRIL.

The benefits and hurdles of the Economic Partnership Agreement (EPA), between Europe and the African, Caribbean, and Pacific States (CARIFORUM), were discussed last week, during the 25th Meeting of the Council of Ministers.

The meeting’s agenda included the signing of an Economic Partnership Agreement with the United Kingdom, and an update on the status of the Economic Partnership Agreement with the European Union.

The Economic Partnership Agreements between the EU and African, Caribbean and Pacific countries is aimed at promoting trade within the ACP and EU. The current African Caribbean Pacific-EU Partnership Agreement was signed in Cotonou in June 2000 and will culminate in 2020.

Percival Marie, Director General of CARIFORUM said the ministers were able to assess the post-Cotonou agreement, among other matters.

“In our deliberations, ministers were brought up to date with the current status of part of the negotiations, the identifying matters of continuing concern, and we were able to look at the regional component of the ACP post Cotonou.”

The Economic Partnership Agreement extends beyond previous trade arrangements between the Caribbean and the EU to include areas such as services, investment, e-commerce, government procurement and intellectual property.

“The EU is probably the largest single donor of grant financing to the region,” he continued. “Under the tenth EU fund, we have a program 324 million euros. Ministers were brought up to date on how these monies were being allocated, what were the successes and failures, what challenges were being experienced, what projects had already been approved, and what the implementation phase was, for these projects. The ministers were able to give strategic guidance to the work that has to continue.”

The CARIFORUM Council of Ministers is scheduled to meet with the European Commissioner for Development in Jamaica on April 15, to negotiate the terms of the post-Cotonou Agreement.