Caribbean Export OUTLOOK 3rd Edition

Trade & Export Hot Spots 38

3. Production and export of high value products due to flexible rules of origin Trade agreements use rules of origin to determine whether exports can qualify for preferential treatment, and often, suppliers are limited in where they are able to source inputs and still have their final products meet the criteria of being made in the Caribbean. What’s great about the EPA is that it makes it possible for CARIFORUM producers to source high quality and potentially cheaper inputs from other CARIFORUM member states, EU member states or countries considered as neighbouring states (Central America, Colombia, Cuba, Mexico, Venezuela) and still meet the rules of origin requirements under the agreement. This means that the products exported can still qualify for the duty and quota free access mentioned above. The EPA ensures that service providers in various sectors such as tourism, e-commerce, and the professional services, to name a few, are able to capitalize on the demand for their skills in Europe. The agreement makes it easier for CARIFORUM nationals to facilitate trade by undertaking short term visits to the EU for business purposes, such as to conduct research and design, engage in marketing activities, attend trainings and trade fairs and more. The categories of persons who have been granted this temporary access include key personnel, graduate trainees, business services sellers, short term visitors for business purposes, contract services suppliers, and independent professionals. 4. Improved market access for service providers

CARIFORUM service providers in the entertainment sector also have the opportunity to access EU markets with greater transparency and certainty under the Protocol on Cultural Cooperation in the EPA. It is now easier for musicians, authors, composers and dancers, for example, to do business in the EU. 5. Improved facilitation of investments The EPA seeks to facilitate easier flow of investments, particularly in non-traditional sectors, into both Europe and CARIFORUM states. It is envisaged that greater investment in the region will increase our access to technology, create jobs for more Caribbean nationals, and overall provide a more stable and conducive environment for doing business. 6. Development cooperation Not only has the agreement made market access easier, but firms will also be able to benefit from private sector development programmes aimed at strengthening their capacity to export. This is realized through technical assistance and training, grants, and other capacity building initiatives such as those provided by Caribbean Export and other similar agencies. To further assist SMEs in understanding the agreement and its key concepts, the Agency has developed easy to follow animated videos on the EPA. These videos cover topics such as Rules of Origin requirements, Technical Regulations and Standards, and how to export a variety of

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