Caribbean Countries Encouraged to Take Greater Advantage of EU Partnership Agreement
MIIC Author
Head of the Delegation of the European Union (EU) to Jamaica, Belize, and The Bahamas, Her Excellency Dr. Erja Askola, is encouraging Caribbean countries to take greater advantage of trade opportunities under the EU-Caribbean Economic Partnership Agreement.
Speaking at the opening of the Caribbean Investment Forum (CIF) 2025 on Tuesday (July 29), at the Montego Bay Convention Centre in St. James, Dr. Askola outlined that the agreement is firmly rooted in a rules-based trade deal, which covers trading goods, trading services, investments, intellectual property rights, sustainable development and many other areas.
“For goods, the EU remains the most open market for Caribbean goods and exports. There are no tariffs, no quotas on any goods made in this region to the extent that they come from the Caribbean Eco-partner countries,” she pointed out.
In this vein, Dr. Askola explained that the agreement allows for significant trade advantages.
“The duty-free, quota-free export opportunity also means that if you invest in production facilities, for instance here in Jamaica, you can export the products manufactured or processed here to anywhere in the European Union,” she noted.
“We are not talking about a small market. We are talking about 27 countries. We are talking about 450 million consumers. I would like to mention that in 2024, in Jamaica, the EU was the second [most popular] destination for Jamaican products and Jamaican exports, second only to the United States. In the wider Caribbean region, the EU is also ranked as the number-two trading partner,” Dr. Askola said.
She also encouraged businesses to look to Europe for quality imports.
“You can also buy from Europe many high-quality inputs and goods that will help you and that can help you improve your productivity and competitiveness. Most of these goods can be exported into Jamaica at reduced tariff rates or no tariffs at all,” she indicated.
The forum is being hosted by the Ministry of Industry, Investment and Commerce through Jamaica Promotions Corporation (JAMPRO), in partnership with the Caribbean Export Development Agency.
The forum, which ends on July 31, has attracted hundreds of stakeholders from across the region.
Source: JIS
Recent News
See all news
Posted on 27/08/2025
Minister Hill Champions Jamaica as Top Business Destination
Minister of Industry, Investment and Commerce, Hon. Aubyn Hill, has reaffirmed that Jamaica remains a top destination for doing business, citing the Government’s expanded support for investors, entrepreneurs, and Micro, Small and Medium-sized Ente...
Posted on 19/08/2025
NCRA Records Seven Per Cent Year-on-Year Increase in Site Inspections
In 2024, the National Compliance and Regulatory Authority (NCRA) conducted 4,870 site inspections, up from 4,550 in 2023. This represents a seven per cent increase and is attributed to intensified monitoring of products at each site inspected. The...
Posted on 31/07/2025
Minister Hill Underscores Need for Increased Energy Investments to Support Growth
Minister of Industry, Investment and Commerce, Senator the Hon. Aubyn Hill, is calling for increased regional and international investment in energy infrastructure to support growth and development across the Caribbean. “We need energy that is ava...
