Caribbean Countries Encouraged to Take Greater Advantage of EU Partnership Agreement

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