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Regional body to examine post-EU market access

Jun 03, 2009 News

The Caribbean Regional Negotiating Machinery (CRNM), in collaboration with the ACP Business Climate facility (BizClim), will host a workshop on Regulatory Regimes for Professional Services in Europe over two days from June 8 at the Accra Beach Resort in Barbados.

The workshop will provide about 40 industry participants from across CARIFORUM with an opportunity to assess the findings of the CRNM study on the regulatory regimes and market environment in selected European Union (EU) states.

The study highlights opportunities for trade in professional services with the European Community and details on the regulatory requirements in national markets.

A key output of the meeting will be the identification of priority actions required by CARIFORUM to take advantage of market access opportunities in the EU.

The workshop will increase the awareness of CARIFORUM professionals of the opportunities that the CARIFORUM-EC Economic Partnership Agreement (EPA) affords through a thorough review of data on existing trade; market scoping; analysis of the existing regulatory frameworks and identification of the next steps that are required to achieve a primary objective of the EPA – to increase the overall trade in professional services and exports of these from the CARIFORUM countries to Europe.

The EPA grants market access to Caribbean services firms and professionals in a range of sectors in the European Union. Article 85 of the EPA also provides for negotiations on mutual recognition of qualification and licensing issues within three years.

To take advantage of market access in Europe, professionals will have to meet domestic standards regarding licensing and qualification in EU states.

The World Bank has observed that there is significant opportunity for market growth in the CARIFORUM countries in the export of services. A key element of the Agreement is the reduction of barriers to trade in the services sector to promote growth and investment.

The EPA provides for immediate reciprocal access to EU and CARIFORUM markets, with flexibilities for the liberalization of the sensitive sectors in the developing states that make up the CARIFORUM group.

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