Overview of the Economic Partnership Agreement (EPA) By Adam Wisniewski Regional Trade Manager EU Delegation
Overview What is an EPA? Why an EPA? The CARIFORUM – EU EPA Core elements of the EPA Ownership of the EPA EPA Implementation
What is an EPA? A new Trade agreement b/w the EU and Caribbean countries Replacement of Cotonou trade arrangements Asymmetrical trade liberalization Promotes RI & gradual integration of Caribbean countries in global economy A sustainable development partnership
Why an EPA? No positive results with Lomé preferences ACP trade preferences incompatible with WTO (non-reciprocity) rules
The CARIFORUM – EU EPA Asymmetric opening of trade The Most Favoured Nation (MFN) clause Regional Preference Development Cooperation
Core elements of the EPA Trade in Goods Investment, Trade in Services, E-commerce Trade-related Issues
Core elements of the EPA: I. Trade in Goods Customs duties Trade Defence Instruments Rules of origin Customs and Trade Facilitation Agriculture and Fisheries Technical barriers to trade (TBT) measures Sanitary and phyto-sanitary (SPS) measures
Core elements of the EPA: II. Trade in Services Access to EU mkts. for tourist guides, chefs, fashion models, entertainers/ performers, artists, other service providers Up to 1 yr. experience in the EU for mgt. trainees from affiliated companies Skilled CARIFORUM self-employed provide services in the EU for 6 mths. at a time Protocol on cultural cooperation Regulatory framework for mutual recognition of qualifications, licenses etc. MA provision for investment
Core elements of the EPA: III. Trade Related Issues Competition Innovation and Intellectual Property Public Procurement Protection of personal data
Ownership of the EPA The Government negotiated the EPA as part of CARIFORUM They are also responsible for certain parts of implementation However the responsibility is on the private sector to USE the EPA!
EPA Implementation T&T has not yet ratified the Agreement T&T has implemented the tariff cuts due in 2011, 2013 and 2015
Regional Trade Affairs Manager Thank you! Adam Wisniewski Regional Trade Affairs Manager Adam.wisniewski@eeas.europa.eu