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In: Economics

Consider the essential elements of CARIFORUM-EU EPA trading significance for CARICOM countries, especially those concluded in...

Consider the essential elements of CARIFORUM-EU EPA trading significance for CARICOM countries, especially those concluded in partnership with other developed countries.
Explain what were the contentious issues before the agreement was established? Give your opinion on whether or not CARICOM benefited from these agreements

Solutions

Expert Solution

The essential elements of CARIFORUM- EU are:
1 It is the second largest trading partner in the world after the USA.
2 It consider the main imports of mining products and petroleum, sugar and rum, fertilisers.
3 The main exports are ships, cars, engine and machinery parts, phone equipment, milk cream etc.
Some of the contentious issues before the agreement are as follows:
1 The issue related to the trade of sensitive products.
2 The agreement policies are not supportive in some aspects.
3 Issue related to the funds and finance.
4 Some positional values of trade are also not included in the agreement and that’s lead to a great trade agreement between the nations.
5 The Bahamas services commitments is not incorporated.
6No discussion included in the cross border trade and agreements.
7 Investment commitments which are in the CF-EU EPA are incorporated specifically to commercial presence.
Yes, it can benefitted with the agreements.

Rahul Sunny answered 6 months ago
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