For signatories to the CARIFORUM-UK EPA, the agreement is expected to take effect if the UK leaves the EU without a deal, or at the end of an implementation period.
Summary of the agreement
The countries that will be covered by the CARIFORUM-UK EPA are:
Antigua and Barbuda
The Commonwealth of Dominica
The Dominican Republic
The Republic of Guyana
Saint Christopher and Nevis
Saint Vincent and the Grenadines
The Republic of Trinidad and Tobago
The following countries are approved in principle and expected to sign shortly:
The Commonwealth of the Bahamas
The Republic of Suriname
The CARIFORUM-UK EPA maintains the effects of the CARIFORUM-EU EPA.
In the CARIFORUM-UK EPA, the UK commits to providing immediate duty-free, quota-free access to goods from CARIFORUM-UK EPA signatory states. In exchange, these CARIFORUM states commit to more gradual tariff liberalisation. However, sensitive products are excluded from full liberalisation.
The EPA allows for both parties to take measures to protect their markets in particular circumstances. The EPA envisages development support from the UK to ensure that it is effectively implemented, and that the opportunities it offers can be fully realised by the CARIFORUM states.
The EPA contains provisions on intellectual property and geographical indications, government procurement, competition, services and trade remedies.
Economic partnership agreements are development-focused trade agreements that aim to promote increased trade and investment. They contribute to sustainable growth and poverty reduction in developing countries.