NewsWhore
10-12-2006, 04:23 PM
The European Union has announced that it will remove subsidies on products entering the Dominican Republic and Caricom markets in accordance with the Economic Partnership Agreement (EPA), but is warning that it will not concede more development aid than has already been agreed upon under the Cotonou Agreements. US$22 million has already been allocated to signatories of the agreement. This could lead to the possible exporting of sugar to Europe from the DR, according to Ben Nupnau, Economic Advisor to the European Commission. It could also lead to an increase in exports of bananas to Europe, and a strengthening of the milk sector, considering that 70% of powdered milk comes from European nations. Nupnau commented that removing of subsidies makes trade fairer. The EPA goes into affect in January 2008.
As reported in Hoy, Nupnau said that the European Union would not demand a trade agreement with the Dominican Republic that grants it the same benefits offered the United States with DR-CAFTA, although, it could resort to the Cotonou Agreement to do so. The economic advisor explained that it would be impossible and illogical to transfer the conditions established in an agreement such as DR-CAFTA to an agreement like the one to be derived from negotiations of the Economic Association Agreement between the EU and the Caribbean.
More... (http://www.dr1.com/index.html#7)
As reported in Hoy, Nupnau said that the European Union would not demand a trade agreement with the Dominican Republic that grants it the same benefits offered the United States with DR-CAFTA, although, it could resort to the Cotonou Agreement to do so. The economic advisor explained that it would be impossible and illogical to transfer the conditions established in an agreement such as DR-CAFTA to an agreement like the one to be derived from negotiations of the Economic Association Agreement between the EU and the Caribbean.
More... (http://www.dr1.com/index.html#7)