Brussels, 16/10/2008 (Agence Europe) - The EU and fourteen Cariforum states formally signed an economic partnership agreement (EPA) in Bridgetown, Barbados on 15 October, in preparation of free trade and in compliance with WTO rules. This provides some relief for the EU because, at the end of six years of negotiations, this is the first complete EPA, at least from the point of view of its contents and was signed with a region of the ACP (Africa/Caribbean/Pacific). Haiti, however, did not sign. This country, is counted as an LDC and will benefit from zero duty European market access for almost all its products. Guyana created doubts until the very last minute. Its new government was still saying just before signing, that such an agreement was contrary to its development interests (EUROPE 9761) but finally signed. The EPA is comprehensive because it gradually liberalises trade in goods over a 25 year period, as well as for trade in the services sector.
The Commission welcomed this agreement that would make the Caribbean “an attractive market for trade and investment, with a knock-on effect in terms of opportunities for growth and investment security”.
Oxfam expressed a degree of consternation to this news. Luis Morago, the Head of Oxfam International in Brussels, accused the European Union of betraying its development rhetoric and had not kept its promise to provide a trade arrangement put the development interests of developing countries at the top of its list. He also accused the EUY of having exerted undue pressure on countries with misgivings, to sign an agreement of such import. (A.N./trans/rh)