Countries must deal with competition

Biesebroek was yesterday speaking at the final event of the Capacity Building Project within CARIFORUM in Competition, Public Procurement and Customs and Trade Facilitation to advance the implementation of the CARIFORUM- EU Economic Partnership Agreement (EPA), held at Hyatt Regency, Port-of-Spain.

He said under the agreement, both regions have rights and obligations but the different stages of development of the two regions’ are taken into account.

“The Caribbean countries enjoy preferential access to the EU. That means that they have 100 per cent duty and quota free access for all goods and services.” He continued, “On the other hand, CARIFORUM States have up to 25 years to adjust their import tariffs while 17 per cent of goods and services that are considered sensitive or of strategic importance are not subject to liberalisation.

The Caribbean States also have the right to respond should EU imports suddenly threaten local production.” Biesebroek said the EPA supports the region’s economic integration process and CARIFORUM States offer each other the same preferences they give the EU.

“This should be an engine for growth and employment creation in the region and could be the basis for further development of trade between CARIFORUM and the EU.