The CARIFORUM is the only region among the African Caribbean Pacific Countries (ACP) to have so far signed comprehensive Economic Partnership Agreement with the European Commission. 

The 15 CARIFORUM EPA countries include: Antigua and Barbuda, the Bahamas, Barbados, Belize, Dominica, the Dominican Republic, Grenada, Guyana, Haiti, Jamaica, Saint Lucia, Saint Vincent and the Grenadines, Saint Kitts and Nevis, Suriname, and Trinidad and Tobago.

Haiti did not sign the EPA but the EU and the regional partners will continue to engage with Haiti to create the conditions for them to join the Agreement as soon as possible. Cuba is also a member of CARIFORUM but did not participate in negotiations since it is not a member of ACP.

The CARIFORUM countries and the EU launched Economic Partnership Agreement
(EPA) negotiations back in April 2004 culminating into the signing of a comprehensive EPA on October 15, 2008.

The Agreement will officially enter into force pending the completion of the process of ratification by the member states. However, until then CARIFORUM and Europe started applying EPA provisionally from December 29, 2008. Through provisional application, the European Community and the signatory CARIFORUM States will be able to benefit from the terms of the Agreement.

The final EPA forms a comprehensive and far reaching agreement and covers trade in goods and services, investment, trade related issues like innovation and intellectual property as well as links to development cooperation.

Importance of EPA to CARIFORUM
The EPA is an important arrangement for CARIFORUM, given its role in advancing regional integration.  The EPA is unique in that it is the first and only bi-regional agreement encompassing the CARIFORUM configuration.  It provides the framework to support and provide impetus for regional integration amongst CARIFORUM. 

Underpinned by a development dimension, the Agreement takes into account the differences in levels of size and development, thereby creating a bi-regional agreement with wider scope than just a traditional Free Trade Agreement. 

The ‘development package’ is critical to the provision of the development financing necessary to build the export capacity and infrastructure of the Caribbean’s private sector,  so as to take advantage of market access opportunities presented.  Allied to this, the package constitutes technical and financial assistance which will be used be used to put in place an enabling environment in Caribbean countries for foreign investors.

Importantly, the EPA arrangement provides for the establishment of a stable and secure trading environment for goods from the Caribbean.  It also facilitated the negotiation of a Services and Investment framework between CARIFORUM and the EU, for the first time. 

The EPA is expected to open the door to an improved trade and investment relationship with Europe.  In recent years, trade and investment flows from Europe to the Caribbean (with the exception of the Dominican Republic) have been growing at a slower pace. 

The EPA is intended to be an enabling mechanism for the revitalization of these flows.  It is intended to stimulate greater investment between Europe and the Caribbean, through mutual removal of barriers to investment, as well as the enhancement of the attractiveness of the Caribbean economic space in respect of foreign investment opportunities.  The Agreement is also intended to stimulate Caribbean exports of non-traditional products and services, encouraging and supporting diversification in these economies.

Therefore, from the Caribbean perspective, the partnership with Europe is expected to position the Region to take advantage of a more dynamic trade and investment relationship.

Contents of the CARIFORUM-EC EPA:
Part I: Trade Partnership for Sustainable development (art. 1 – 8)
Objectives, principles, sustainable development, regional integration, monitoring,
cooperation in international fora, development cooperation, cooperation priorities

Part II: Trade and Trade related Matters
I. Trade in goods (art. 9 – 59)
Customs duties, trade defence instruments, non-tariff measures, customs and
trade facilitation, agriculture and fisheries, technical barriers to trade sanitary
and phyto-sanitary measures

II. Investment, trade in services, e-commerce (art. 60 - 121)
III. Current payments and capital movement (art. 122 - 124)
IV. Trade related issues (art. 125-201)
1. Competition
2. Innovation and Intellectual Property
3. Public Procurement
4. Environment
5. Social Aspects
6. Protection of personal data

Part III: Dispute Avoidance and Settlement (art. 202 – 223)
Consultation and mediation, dispute settlement procedures
Part IV: General Exceptions (art. 224-226)
Part V: Institutional Provisions (art. 227-232)
Joint CARIFORUM-EC Council, CARIFORUM-EC Trade and Development
Committee, CARIFORUM-EC Parliamentary Committee, CARIFORUM-EC
Consultative Committee
Part VI: General and Final Provisions art. (233-250)
Protocol on Rules of Origin
Protocol on Mutual Administrative Assistance in Customs Matters
Protocol on Cultural Cooperation

Source: Website for Office of Trade Negoatiations Carribean Community Secretariat