CARIFORUM and UK EPA Study

Jamaica

58.3 58.3

80 th 79 th

91 st

86 th 95 th

93 rd 61 st

110 th

74 th 78 th

70 th 75 th

93 rd

27 th 75 th

50 th 45 th

126 th 106 th

33 rd 87 th

83 rd 87 th

Trinidad and Tobago

102 nd

58 th

122 nd

Source: World Economic Forum 2019

11. CONCLUSIONS & RECOMMENDATIONS

11.1 Trade in Goods

The data confirms that market access is not a sufficient criterion to guarantee market entry and, as a result, increased exports. As previously indicated, the CF-UK EPA is a continuity agreement and so does not vary in any significant way from the original CF-EU EPA in relation to market access. However, where this study finds that differences may arise is in relation to the regulatory measures that will and have come into play as a result of Brexit. The extent to which these vary from existing EU regulations will create additional costs for CF exporters, based on how readily they are able to meet these requirements. However, the region could benefit by being a “first mover” by building capacity to meet the relevant standards as well as address environmental and sustainability concerns in respect of trade in goods. Additionally, to the extent that goods are transhipped to the UK but destined for both the UK and EU markets, CF exporters may face having to ensure that their consignments are prepared in such a way so as to comply with the dual requirements for entry into the two markets (UK, EU) or for as many as three markets (UK, EU, and non-EU). This imposes additional costs that will impact on the competitiveness of exports. Alternatively, if the exports are shipped directly to the different destination markets the additional transport costs will also become a significant issue, affecting the competitiveness of exports and also the time associated with getting the goods to market.

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