The European Union’s top diplomat in the Caribbean is urging regional businesses to make the most of tariff-free access to the European market, made possible under the CARIFORUM-EU Economic Partnership Agreement.
Speaking at the Caribbean Export Development Agency’s 2024 Annual Results Report Launch on Wednesday, Head of Delegation Ambassador Malgorzata Wasilewska said the Economic Partnership Agreement (EPA) is a “unique and timely” tool that remains widely underutilised by Caribbean exporters.
Though the EPA gives regional exporters a significant edge, Wasilewska said, “I’ve been in the region nine years, and when I go home, I still cannot find Caribbean spices or sauces anywhere I can think of.”
The ambassador said the EU was for its part upholding its commitment to open market access, whereas the Caribbean maintained regional tariffs and trade barriers that acted as deterrents to investment and trade flows.
“I was hoping Minister [Kerrie] Symmonds was going to be here so I could make that point in front of him but I’ll find another opportunity, no doubt,” she said.
Ambassador Malgorzata Wasilewska, Head of Delegation of the European Union to Barbados. (HG)
Wasilewska reaffirmed the EU’s commitment to building trade and economic partnerships in the region as it approaches 50 years of diplomatic ties with the Caribbean.
She cited ongoing collaboration with Caribbean Export through key programmes such as the EU-LAC Digital Accelerator and Social Accelerator, which aim to support MSMEs and strengthen digital and green transformation across the region.
Under the Global Gateway Strategy, she said, the EU was focused not only on hard infrastructure but also on building regulatory frameworks and human capital to improve the business environment.
“This is about more than trade,” she said. “It’s about creating a balanced economic and political relationship based on shared values and belief in the multilateral system.”
Her comments come as Caribbean Export and regional leaders brace for the fallout from proposed global tariff hikes, which experts warn could shrink world trade by up to three per cent.
Executive Director of Caribbean Export, Dr Dami Sinanan, underscored that even minor tariff shifts can be damaging for small, open economies like those in the Caribbean.
“Ten per cent might seem low to some, but to our exporters, that can be the difference between success and failure,” he said. (SM)
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