The Cariforum-EU Economic Partnership Agreement (EPA): The Development component

The Economic Partnership Agreement (EPA) between the Caribbean Forum (Cariforum) and the European Community (EC) is the only comprehensive EPA negotiated so far, and was signed by all parties (except Haiti) in October 2008. Now that the details have been finalised a start can be made to identify the likely development impact, and this report provides an initial assessment.

Comprehensive changes to trade, investment and related policies produce profound and wide- ranging economic impacts, but do so gradually over time with multiple, cross-cutting effects. The impact of the EPA on the Cariforum states will be especially wide-ranging (because of its broad scope) and drawn out (because it will be implemented over 25 years). This report focuses on the likely early effects and their implications for European Union (EU) policy both because these are currently the highest development priority and because the scale and scope of later effects will take time (and a great deal of in-country research) to assess accurately.

Photo By OEA - OAS