CARIFORUM completes OECS legislation pertinent to EPA
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CARIFORUM completes OECS legislation pertinent to EPA |
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Contact: rokeiffe@oecs.org
Thursday, June 8, 2011– A review of the legislation of the OECS regarding the implementation of Trade in Services and Investment obligations under the CARIFORUM-EU Economic Partnership Agreement (EPA) has just been completed.
The review was launched in November 2010. It involved the OECS governments of Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, Saint Lucia and Saint Vincent and the Grenadines. It was designed to identify for each OECS Member State, pieces of legislation related to Trade in Services and Investment that need to be brought into conformity with the Agreement, including suggested legislative changes and drafting instructions, and to identify and design possible projects for ensuring conformity of the OECS countries’ legislation with the CARIFORUM-EU EPA.
The head of the OECS Secretariat’s Trade Policy Unit Virginia Paul anticipates enhanced trade activity between participating OECS Member States and the EU once the EPA obligations are met.
“We anticipate that existing trade will continue and even increase. Right now tourism is one of our major exports to Europe and we anticipate that this and many activities related to tourism will continue—for example tours with travel agents, and health and wellness services. “The EPA is a reciprocal trade agreement which means that service providers from Europe can seek opportunities in the OECS countries and OECS service providers can seek opportunities in Europe.”
A draft final report identifying for each OECS Member State, legislation related to Trade in Services and Investment that needs to be brought into conformity with the CARIFORUM-EU EPA, as well as the design of possible projects to fill the gaps identified in the above mentioned report, is currently being prepared.
The Trade in Services and Investment Specialist at the CARICOM Secretariat, has revealed that the consultant’s findings indicate a need for legislative changes, to allow EU nationals to enter these states to provide services. The official has also underscored the additional need for policy and legislative development in areas where legislation is not in place, such as professional services and e-commerce.” |
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