This proposal for a Decision is the legal basis for the conclusion of the Economic Partnership Agreement between the CARIFORUM States, on the one hand, and the European Community and its Member States, on the other.
Recall that the CARIFORUM States are as follows:
- Antigua and Barbuda;
- the Commonwealth of the Bahamas;
- Barbados;
- Belize;
- the Commonwealth of Dominica;
- the Dominican Republic;
- Grenada;
- the Republic of Guyana;
- Haiti;
- Jamaica;
- Federation of Saint Kitts and Nevis;
- Saint Lucia;
- Saint Vincent and the Grenadines;
- the Republic of Suriname;
- the Republic of Trinidad and Tobago.
The content of the agreement is, in essence, consistent with the Commission’s initial proposal (for details, please refer to the summary of the Commission’s initial proposal dated 18 March 2008).
The agreement was initialled on 16 December 2007 and has been provisionally applied since 29 December 2008 pending its entry into force.
Pursuant to Article 243(4) of the Agreement, certain elements of the Agreement have been applied on the basis of Council Regulation (EC) No 1528/2007 applying the arrangements for products originating in certain states which are part of the African, Caribbean and Pacific (ACP) Group of States provided for in agreements establishing, or leading to the establishment of, Economic Partnership Agreements. The Agreement shall not seek to affect the rights of investors of the Member States of the European Union to benefit from any more favourable treatment provided for in any agreement related to investment to which a Member State and a CARIFORUM State are Parties. Member States may maintain and conclude such agreements in so far as they comply with Community law.
The text of the Agreement is attached to the proposal for a Decision and appears in Council doc. 7507/08. To enter into force, the Agreement requires the assent of the European Parliament.