Identifying Trade and Investment Opportunities in the CARIFORUM-EU EPA

The Project at A Glance

One of the most advanced Economic Partnership Agreements (EPAs) signed by the EU with its ACP partners is the CARIFORUM-EU EPA. Signed in 2008, the Agreement provides for an asymmetric and progressive opening of trade in goods, services, and investment.

International Economics (IEC) contributed to a more strategic trade and investment relations between the European Union (EU) and Caribbean Forum (CARIFORUM) states. The project was implemented within the PSF Framework Service Contract led by GOPA Worldwide Consultants GmbH and funded by the European Commission.

What We Found

The EPA, which was signed in 2008 by the EU and 14 Caribbean nations, aims to improve trade and investment links as well as regional integration between the parties and CARIFORUM nations. Trade between the two regions stagnated even after the Agreement had been in effect for more than ten years. In order to highlight the potential for EU businesses to invest in the CARIFORUM region and promote commerce between the countries, the EU commissioned a number of sectoral studies.

Given that many stakeholders had relatively little understanding of how the EPA operated, the intervention also aimed to demystify the EPA, inform about the gaps in its implementation that still exist, and provide information about all the tools and benefits that come with it. To this end, our Team held intense advocacy campaigns with key stakeholders from the EU and CARIFORUM regarding the Agreement’s priority sectors.

Our Strategy and Impact

The EPA provided and advocated a framework for cooperation in areas such as public education, eco-innovation, and trade between CARIFORUM and EU States. CARIFORUM States had introduced significant legislative and regulatory reforms as well as progressive policy and strategy changes since signing the EPA, resulting in increased competition and greater market access.

Overall, the project was implemented through a mix of in-depth research, data collection and analysis and stakeholder consultations. Our Team analyzed and enhanced awareness of business opportunities for EU private sector entities within the 6 sectors of focus in the context of the functioning of the CARIFORUM-EU EPA. This included quantitative and qualitative information on sectors of priority for EU trade and investment, identification of market access conditions and requirements, and identification of obstacles to the ease of doing business in the priority sectors.

Ultimately, the Team produced six sectoral reports which were followed by intensive advocacy campaigns about the priority sectors and the Agreement with the key stakeholders of both the CARIFORUM and EU.

Our team completed six sectoral reports that covered:

Renewable Energies,
Sustainable Tourism,
Agriculture, Fisheries and Food Processing,
Infrastructure and Utilities,
Maritime services, Ports and Logistics; and
Information and Communication Technologies.

Our Core Solutions

As businesses seek to expand operations into new markets, the need to explore global supply chains and understand the international regulatory framework becomes crucial. At International Economics Consulting, we build tailor-made strategies for both import and export-oriented business solutions.