EU, Cariforum nations complete trade pact
The European Union and Caribbean nations affiliated with the African, Caribbean and Pacific Group of States (ACP) have completed a trade agreement that includes reciprocal duty reductions and economic development agreements expected to boost future trade.
The Economic Partnership Agreement covers trade relations between the EU and Caribbean bloc within the ACP known as Cariforum. An EU statement said the agreement covers 'trade in goods, trade in services, rules on trade-related issues, as well as development cooperation.'
The agreement is part of a flurry of trade pacts involving EU and ACP nations, which includes nearly 80 countries, most former European colonies. The EU has a waiver from the World Trade Organization on longstanding trade agreements involving ACP nations, even if the agreements do not conform to standard WTO rules. That waiver expires Dec. 31, but any agreements concluded before that time will remain in effect.
Cariforum nations include Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Dominica, Grenada, Guyana, Haiti, Jamaica, St. Kitts and Nevis, Saint Lucia, St. Vincent and the Grenadines, Trinidad and Tobago, and Suriname.
EU, Cariforum nations complete trade pact
