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Guyana first among CARIFORUM countries to implement EPA tariffs

Jan 19, 2011 News

Finance Minister Dr Ashni Singh in his budget presentation on Monday last updated the House as it relates to the developments in the Economic Partnership Agreement (EPA) signed on to by CARIFORUM Countries and the European Union as regards the liberalisation of the tariffs.
CARIFORUM countries concluded negotiation of the EPA in December 2007, but the participating States did not formally sign the Agreement until October 2008. Guyana’s reservations regarding the EPA, Dr Singh said, are well known, “as a result of which our Government had insisted that the Agreement must provide for a Review by the Parties…This was agreed to in advance of the October 2008 signature by CARIFORUM.”
The Finance Minister said that CARIFORUM countries are scheduled to commence their liberalisation of tariffs from this month (January 2011), following a three-year grace period, or moratorium, from 2008 to 2010.
Dr Singh told the House that on January 14, he signed and caused to be published in the Official Gazette Order the first order of 2011 which amends the Customs Act to include the EPA Schedule of Tariff Rates.
“By taking this step, Guyana is the first among the Member States of CARICOM to implement the agreed EPA tariffs and fulfill the requisite obligations.”

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