| |
The European Union and countries
of the Caribbean region
have signed an Economic Partnership
Agreement (EPA) which
will strengthen ties between the
two regions and promote regional
integration in the Caribbean.
The EPA is the fi rst genuinely
comprehensive North-South
trade and development agreement
in the global economy. It
includes a package of measures
to stimulate trade, investment
and innovation, and to promote
sustainable development, build a
regional market among Caribbean
countries and help eliminate
poverty.
Some key benefi ts of the EPA:
• Offers up front access to EU
markets for Caribbean exports;
• Allows Caribbean markets to
open gradually with extensive
safeguards to protect local jobs
and sensitive sectors;
• Frees up trade in the servicessector to promote growth and
investment;
• Promotes cooperation in innovation
programmes;
• Protects labour and environment
standards in the Caribbean;
• Helps Caribbean exporters meet
EU and international standards.
The EPA will mean much closer
cooperation and dialogue between
the two regions on all these issues
and is backed with substantial
EU development aid.
Source: European Commission
http://ec.europa.eu
|
