Trade Minister calls for services trade to be included in revamped EU Deal

Trade Minister EP Chet Greene said the current EU-CARIFORUM Partnership Agreement (EPA) is like asking “business to compete in a Formula One race on a bicycle” and calls for services to be included in any new deal.

Speaking at the plenary session of the Caribbean-EU Parliamentary Assembly yesterday, Minister Greene said the EPA has “largely unfulfilled” its promise for small economies like Antigua and Barbuda, which exported just $60,000 to the EU in 2023 and $124,000 in 2024, despite having 100% duty-free access to one of the world’s largest markets.

The Minister focused his recommendations to officials on four key areas: pivoting from goods to services trade, creating EU-Caribbean joint ventures in creative and digital industries, delivering on EPA development cooperation provisions, and establishing financial instruments connecting Caribbean micro, small and medium-sized enterprises with European investors.

Greene emphasized that 70 percent of Antigua and Barbuda’s economy is in services, including sustainable tourism, digital animation and design, health and wellness, and maritime services.

However, the EPA has facilitated EU exports to the Caribbean far more effectively than it has helped diversify Caribbean trade portfolios.

“The agreement has focused on liberalization while neglecting the very foundation on which it is signed,” Minister Greene told the assembly. “Articles 7 and 8 of the agreement covering development assistance and cooperation priorities are not optional extras.

They are the engines that are supposed to make this trade work.”

The minister said Caribbean firms face prohibitive costs in energy and logistics, operate in fragmented markets, and lack the capacity to meet EU technical standards or navigate non-tariff barriers.

Without targeted tangible assistance, he said the region’s businesses cannot compete effectively.

The Minister called for the 2026 EPA review to modernize the agreement to reflect 21st-century economic realities, including specific focus on digital transformation, e-commerce, and the green transition.

He proposed creating a single e-portal for real-time export opportunities and programs that help Caribbean businesses sell online to European consumers.

“The EU is undeniably our most important partner,” the trade minister said. “Equally true is the fact that our partnership requires balance. I therefore encourage us to use the 2026 review, not just to tick the boxes, but to build the bridges, provide the resources and create the opportunities that will finally make the EPA work for all of our people.”

The first Caribbean-EU Parliamentary Assembly brought together lawmakers from the European Parliament and Caribbean countries to discuss trade and investment, climate resilience, territorial integrity, and the situation in Haiti.

The three-day assembly is expected to culminate Wednesday with concrete recommendations to guide future joint action between the regions.